Blockchain technology firm Fineqia International Inc. announced on Thursday it has invested in Wave Financial Group, LLC (Wave), a blockchain-focused company. According to Fineqia, Wave undertakes early-stage investment, asset management, treasury management and strategy consulting to enhance the adoption of blockchain technologies worldwide.
“Wave draws on the experience and discipline of early-stage investing of its CEO and founder David Siemer, who previously co-founded Wavemaker Partners that has nearly 15 years of investment and operating history. Wavemaker includes seven funds with Assets Under Management of $300 million and investments in more than 300 companies in the U.S. and Southeast Asia. David also founded Siemer & Associates LLC., a technology-focused investment bank, which he sold to CEC Capital in 2016.”
The investment notably gives Fineqia a stake in a team with significant knowledge, expertise, and a worldwide network. While sharing details about the investment, Bundeep Singh Rangar, CEO of Fineqia, stated:
“Wave’s network and knowledge of both start-ups and corporates pursuing blockchain and crypto strategies is a huge asset for Fineqia. It fits in with our core business of placing debt and equity securities including those backed by crypto assets, soon to be tested within the UK regulator’s sandbox program.”
David Siemer, CEO of Wave, also commented:
“We look forward to working with Fineqia to gain access to non-correlated, high-quality debt opportunities and continue growing our partnership as they continue to push the envelope around issuing Digital Asset backed bonds.”
Fineqia added the investment in Wave is in line with its strategy to invest in blockchain related companies that support its business model. The investment sum represents less than 5% of its market capitalization.
