London-based Funderbeam, a funding and trading platform that connects companies and investors to buy and sell equity stakes, announced on Thursday that it has secured $40M (nearly €36.16M) led by VentureWave, a Dublin-based venture private equity group.
This round also saw participation from Mistletoe, Draper Associates, and Kaidi Ruusalepp, the founder of Funderbeam.
Tim Draper, founder of Draper Associates, says, “Private companies from venture investments have a long history of difficult liquidity. Funderbeam together with VentureWave allow venture-backed startups to be liquid. This is a major breakthrough and the new liquidity will allow for GPs and LPs to more easily trade otherwise illiquid positions.”
How will VentureWave support Funderbeam?
VentureWave’s mission is to impact investing and support high-impact entrepreneurs. And by investing in Funderbeam, it hopes to establish a global leader which will serve institutional and angel investors in venture deal execution and secondaries.