Fineqia International Inc. announces that the value of its investment in the IDEO CoLab Distributed Web Offshore Fund 1 LP (“Fund”) has increased by seven times.

The increase from the most recent reported value on March 31, 2022, represents the net asset value of the fund, in which Fineqia participated as a limited partner in August 2019.

The value of the original investment commitment represents less than 3% of Fineqia’s market capital. The terms of the investment are confidential.

The venture capital arm of the CSAA Insurance Group (Avanta Ventures) and Korea’s GS Group are backing the technology fund, along with the internationally renowned design firm IDEO (whose work includes Apple’s first computer mouse). A number of high-profile executives from prominent tech firms, including IDEO, Coinbase, Twitter, and Fortress, have put money into the fund as well.

Forty-one blockchain and cryptocurrency startups have been funded by IDEO CoLab. Among the new businesses in this area are the blockchain gaming platform Forte, the digital asset trading platform FalconX, and the decentralised naming and certification authority Handshake.

“IDEO CoLab has helped Fineqia back some of the most innovative entrepreneurs in the world, particularly in the blockchain industry,” said Fineqia’s CEO Bundeep Singh Rangar. We are able to gain entry to rare co-investment possibilities with the help of the fund as well.

Source: Prnewswire