SolidX Partners Inc., a New York-based financial services company providing swaps to hedge funds, family offices and other institutional investors, closed its $3m seed financing round.
The round was led by Liberty City Ventures with participation from Jim Pallotta, Red Sea Ventures, Stanley Shopkorn and Red Swan Ventures.
The company intends to use the seed-round funding to pursue growth opportunities.
Led by President David S. Lehmann and CEO Daniel H. Gallancy, SolidX provides swaps that enable investors to gain synthetic exposure to bitcoin. It offers non-deliverable total return swaps on bitcoin settled in USD which use standard International Swaps and Derivatives Association, Inc. documentation, including an ISDA Master Agreement, with applicable schedules, annexes, supplements and confirmations. The company’s counterparties consist primarily of hedge funds, family offices and other institutional investors.
FinSMEs
07/10/2014