LONDON, October 27, 2020 / PRNewswire / – Fineqia International Inc. (the “Company” or “Fineqia”) (CSE: FNQ) (OTC: FNQQF) (Frankfurt: FNQA) is pleased to announce its participation in the $ 21 million IDEO CoLab Ventures (“IDEO CoLab Ventures”) which invests in early stage blockchain and crypto start-ups. The investment in IDEO CoLab Ventures was made through its subsidiary, Fineqia Investments Ltd (https://www.fineqia.com/fnq).
Along with Fineqia, the fund is backed by global design firm IDEO known for its iconic designs such as Apple’s first computer mouse and for tackling complex challenges in business, social and government sectors, Avanta Ventures (the CSAA Insurance Group venture capitalist) Korea’s GS Group and other institutional investors, as well as executives from IDEO, Coinbase, Twitter and Fortress, among those of other tech companies and financial institutions.
“The combination of design and technology is the specialty of the privileged few, but the pleasure of very many,” said Bundeep Singh Rangar, CEO of Fineqia. “Our investment is to support this thesis and to propagate it through IDEO CoLab Ventures.”
IDEO CoLab Ventures invested and helped incubate 30 blockchain and crypto start-ups such as Braintrust (https://www.usebraintrust.com, FalconX (https://falconx.io), Messari (https://messari.io) and NEAR (https://near.org), bringing IDEO’s range of capabilities in areas such as product design, customer research and collaborative enterprise networks.
“Our in-depth design, product development and blockchain technology capabilities allow us to attract world-class entrepreneurs and start-ups from around the world,” said Ian lee, Managing Director of IDEO CoLab Ventures. “This has led to unparalleled investment opportunities and the ability to collaborate with some of the best founders and companies in the world on the development of this important technology and the businesses that are built with it.
Fineqia’s investment follows others, such as in blockchain insurance software company, Black Insurance; blockchain-based asset registration and clearing solution, Nivaura Ltd; the Wave Financial Ltd blockchain-based asset manager; premium finance software as a service (SaaS) provider, PremFina Limited; and Phunware Inc., an enterprise cloud platform for delivering mobile content for brands around the world.
Fineqia has identified the growth potential by investing in IDEO CoLab Ventures as complementary and strategically aligned with the company’s core business of placing debt and equity securities. Fineqia’s investment commitment as a limited partner in IDEO CoLab Ventures (https://www.ideocolab.com/ventures/) represents less than 5% of its market capitalization, of which the initial drawdown is less than 2%.
About Fineqia Investments Ltd
Fineqia Investments Ltd is a wholly owned subsidiary of Fineqia International established to own the growing portfolio of blockchain, fintech, and cryptocurrency technology companies worldwide.
About Fineqia International Inc.
Fineqia International is listed in Canada (CSE: FNQ) and listed on the stock exchange United States (OTC: FNQQF) and Europe (Frankfurt: FNQA). Fineqia International defines the corporate governance, corporate culture, processes and corporate relationships within which the Company and its subsidiaries are managed and managed. Fineqia International monitors and ensures the success, planning and growth of the Company and all of its subsidiaries. More information can be found at https://investors.fineqia.com/news.
About IDEO CoLab Ventures
IDEO CoLab Ventures, a subsidiary of the global design company IDEO, is a $ 21 million Seed investment fund focused on investing and accelerating leading blockchain entrepreneurs and start-ups. More information can be found at https://www.ideocolab.com/ventures/.
SOURCE Fineqia International Inc.