Blockchain
WealthPark Raises JPY907 Million for Digitalizing Alternative Investment Platform
WealthPark Co., Ltd. (Headquarter: Shibuya, Tokyo; CEO: Ryuta Kawada; “WealthPark”) announced it has closed JPY907 million (USD 8.5 million(1)) in financing. SBI Investment Co., Ltd. (SBI AI&Blockchain LPS), Mizuho Capital Co., Ltd. (Mizuho Growth Fund No.3 Limited Partnership), Aozora Bank, Ltd., Japan Finance Corporation, and various domestic and foreign investors participated in this round.
A year and a half pursuant to securing Series A financing of JPY540 million (USD 5.0 million(1)), WealthPark continues its engineering-centric hiring strategy, strengthening corporate operation capabilities, and improving business foundations.
WealthPark closed JPY907 million (USD 8.5 million(1)) in Series B to accelerate the next stage of growth after achieving steady growth through concerted efforts within the company. The latest financing round will bring its total raised amount to JPY1,898 million (USD 17.7 million(1)).
Background
WealthPark provides an asset management platform targeting real estate management companies.
As of the end of July 2020, more than 70 companies and over 10,000 real estate investors are using WealthPark’s platform. The Platform is also used by overseas management companies to satisfy cross-border investors’ needs.
Service Enhancement & Future Expansion
As the premier communication tool between real estate management companies and investors, WealthPark is committed to strengthening its features and collaborating with different industry players to enhance its offerings.
Recent partnerships announced include SBI Sumishin Net Bank Ltd., PriceHubble, and DocuSign, which strengthened our offerings to real estate investors and real estate management companies. WealthPark is committed to delivering further value to our clients by partnering with financial institutions to digitize transaction processes and enhance features in real estate management.
The Platform is not limited to the “real estate” vertical but aims to use “technology” to drive “wealth management” for investors together with real estate management companies.
A Word from WealthPark’s CEO
During the Series B financing round, we received overwhelming support from our existing investors as well as new partners such as Aozora Bank, angel investors and family offices with alternative investment backgrounds from the United States, Hong Kong, and Europe. We will continue working with property managers, developers, brokers, and financial institutions to help real estate, an illiquid asset class, be accessible in a low cost, convenient, and enjoyable way.
Digitalizing illiquid assets such as real estate is an arduous and time-consuming task. However, WealthPark will follow our vision of “helping investors achieve maximum returns” and continuously work hard on expanding our products, services, and customer communication.
Comments from the Investors
SBI Investment Co., Ltd.
In Addition to our investment in Series A, we are very happy to be able to lead this additional financing for Series B. WealthPark has a unique worldview of digitizing alternative assets such as real estate, and many investors and real estate management companies are now using apps and systems.Compared with the Series A financing, WealthPark’s business has grown steadily and its business base has continued to accumulate. An excellent management team centered on the CEO Kawada is ready to expand the market rapidly along with the quick digital transformation. Additionally, WealthPark is not only aiming for Japan but also establish the foundation in developing global business. From all the above, we look forward to its future growth of WealthPark and decided to make additional investments.
The SBI Group mainly operates “Financial Services Business,” which provides comprehensive services related to finance, such as SBI SECURITIES Co., Ltd. and SBI Sumishin Net Bank, Ltd. and “Asset Management Business,” which provides services related to investment in domestic and foreign companies and asset management, such as SBI Investment Co., Ltd. We will support WealthPark’s further growth by utilizing and alliances with the SBI Group’s business and resources.
Mizuho Capital CO., Ltd.
Following the Series A round, we have decided to also participate in the current Series B round. WealthPark is providing a service platform fundamentally based on the simple and clear mission of “investing in real estate with technology”. Since the last round of financing, the user base of real estate management companies and real estate investors has been steadily increasing. Through the proceeds from this round, WealthPark’s strategy is to strengthen the foundations of the platform by realizing the solution business and features to platform users, which were still in the planning stage in the previous round. We decided to make an additional investment based on the performance results, evaluation of the business strategy and forecasts. Mizuho Capital will continue to support WealthPark in achieving its vision of becoming the “world’s number one alternative investment platform”.
Aozora Bank, Ltd.
As a professional financial institution, Aozora Bank ‘s mission is to “create new financial added value and contribute to economic and social growth”. By accelerating innovation in various business fields, Aozora strives to become the “New Japanese Partner Bank”, by leveraging a high degree of expertise, mobility, and flexibility. WealthPark is an IT start-up that leverages technology to service the real estate market. We decided to participate in the round from the expectation of partnership with Aozora Bank and the significant improvements in the real estate industry. Together with the entire Aozora Bank group, we will continue to support WealthPark’s growth towards the future.
List of Investors (no particular order)
- SBI Investment Co., Ltd. (SBI AI&Blockchain LPS)
- Mizuho Capital Co., Ltd. (Mizuho Growth Fund No.3 Limited Partnership)
- Aozora Bank, Ltd.
- Japan Finance Corporation
- Marcus Everard: Investment Advisor, Tinshed Asia
- Varun Bery: Board member, Hong Kong Venture Capital and Private Equity Association
- Water Cheung: Senior Principal & Asia-Pacific CEO, StormHarbour Securities LLP
- Other angel investors and family offices from both Japan and abroad
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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