Bicameral Ventures has made an investment in Balance, a fintech startup. No financial terms were disclosed.
Toronto – June 27th, 2019 – Bicameral Ventures, the fund powering value creation through their “Interconnected Investing” model, announced today a highly strategic investment in Balance aimed at accelerating its growth. The investment brings Bicameral’s portfolio to nine projects that are targeting challenges in various layers of the technology stack, with an aim of delivering superior end-user experiences by leveraging the blockchain and associated virtualized technologies.
“Most M&A destroys value, especially as the problems centrally-planned corporations are trying to solve grow increasingly complex. Instead, Bicameral has brought together a group of independent yet ‘interconnected’ projects working at all layers of this novel technology stack, to attack multiple facets of the largest challenges. Balance, with its unique take on institutional grade custody for digital assets and hyper focus on UX and connectivity, provides an important building block in the delivery of unparalleled end user experiences that leverage decentralized technology,” said Alex McDougall, Chief Investment Officer, Bicameral Ventures.
Balance adds another critical component to Bicameral’s unique portfolio of highly complementary projects focused on accelerating Web 3.0 adoption. As a key aspect of executing on our “Interconnected Investing” strategy, Balance is announcing their plans to become the first institutional grade crypto custodian with integration and support for the Aion blockchain, one of Bicameral’s key strategic investments.
“We’ve watched the trials and tribulations of what we consider two distinct waves of custody companies in the digital asset space so far, and packaged those learnings into a third generation custodian that is institutional grade. Having had Kesem and Alex mentor us through Techstars, we quickly realized their ‘Interconnected Investing’ strategy means a spot in Bicameral’s portfolio is a lot more than just a logo on a site. The Aion integration is a testament to this, and just one of the many ways in which they’ve been helping us already,” said George Bordianu, CEO and Founder, Balance.
“Insured, compliant, secure custody has long been seen as a foundational building block for getting traditional institutions and, especially critically, enterprises comfortable with digital assets,” said Kesem Frank, Chief Executive Officer, Bicameral Ventures. “Safely holding assets is table stakes for a custody solution. Balance’s focus on not just storing, but operationalizing digital asset holdings for enterprise, investors, and crypto projects via an exceptional front-end experience, makes them unique to this market, and a great strategic fit within our portfolio.”
As part of the transaction Bicameral Ventures will be entitled to nominate one member of Balance’s Board of Directors.
About Bicameral Ventures
Bicameral Ventures is a Venture Capital fund focused on “Interconnected Investing” and building a portfolio of highly complementary projects working towards bringing new technology paradigms into reality. Bicameral’s themes include blockchain, interoperability, data and identity self-sovereignty, personalized AI, and Web 3.0. Bicameral Ventures was co-founded by Kesem Frank, Co-founder of the Aion Protocol, and Alex McDougall, fintech and M&A investment banking veteran with Bank of Montreal Capital Markets. To learn more about Bicameral Ventures, please visit www.bicameralventures.com.