Circle
Circle

Circle Launches $100 Million Investment Round for Crowdfunding Platform SeedInvest

Circle Internet Financial, a global fintech firm focused on the crypto and blockchain sector, is looking for a general partner who will help the company raise $100 million.

Leveraging SeedInvest’s Network of 250,000 Investors

The multi-million dollar venture capital fund is reportedly set to take advantage of the deal flow from SeedInvest, an equity crowdfunding platform that offers investors opportunities to invest in pre-vetted startups. Notably, Circle acquired SeedInvest earlier this year. 

According to job listing for general partner posted on LinkedIn:

“The Partner will be expected to develop and drive an investment thesis designed to leverage SeedInvest’s sizable deal flow and its unique network of 250,000 investors to maximize returns.”

Based in New York and founded in 2011, SeedInvest’s management focuses on maintaining a registry of potential startup investment opportunities that have been carefully screened by the company before they’re offered to clients.

“Tokenization of Financial Assets Will Unlock Capital for Growing Companies”

As noted in the job posting, Circle is looking for professionals with principal or partner-level experience at top level VC firms and strong connections in the investment and fundraising community.

When acquiring SeedInvest in March 2019, Circle said that the startup provided a way to tokenize equity in new firms and initiatives. Following the acquisition, Circle’s co-founders mentioned in a blog post:

“We believe that the tokenization of financial assets will ultimately unlock capital for growing companies and investment opportunities for people everywhere.”

In March 2019, Circle revealed it was planning to raise $250 million in order to expand its line of products and services. The company said at that time that its fundraising effort will consist of debt and equity financing. 

Established in 2013, Circle has raised nearly $250 million (to date) from several established investment companies. The firm is backed by giant Wall Street investment bank Goldman Sachs, Pantera Capital, and the Digital Currency Group.

Circle’s management runs several subsidiaries including Circle Invest, Circle Trade, and crypto asset exchange Poloniex (acquired in 2018).

Circle Establishes Operations in Bermuda

Elaborating on the American fintech company’s business model and strategic approach to the blockchain industry, Circle’s blog post (published in January 2019) stated:

“This year, we anticipate further incremental growth in institutional adoption catalyzed by stablecoin usage, advancements in institutional custody solutions, increasing regulatory clarity particularly in the [US], and improvements and innovation in core crypto infrastructure.”

On July 22, 2019, Circle’s management announced that it’s establishing a self-governing subsidiary in the British Overseas Territory of Bermuda. The firm said that it intends to “serve non-US Poloniex customers” from its Bermuda-based operations. 

However, Circle is still continuing its operations in the US, in addition to the UK, Hong Kong, and Ireland.