Following the news that they are cutting employee headcount in Europe, Seedrs has promoted several executives while revealing the departure of its CEO.
According to a blog post authored by Seedrs founder and Executive Chairman Jeff Lynn – John Lake and Joel Ippoliti have leveled up within the Republic-owned operation.
Lake, who is currently Seedr’s Chief Commercial Officer, will take over leadership of Republic’s European operation as Managing Director. Ippoliti, who has been the Chief Product Officer at Seedrs since 2017, will now become Republic’s Chief Product Officer globally. Ippoliti will maintain his leadership position with Seedrs as well.
At the same time, Jeff Kelisky, who has been CEO of Seedrs since 2017 and helped to cement the sale of the company to Republic, will relinquish his position to Lake and become an Advisor to Ken Nguyen, Republic’s CEO and founder, for a “period of time.”
Kelisky issued the following statement:
“I am incredibly proud of the team and look forward to seeing the combined teams go from strength to strength as the innovation leaders in private asset infrastructure building and investing.”
It was not immediately clear how long Kelisky would remain with the firm.
Ippoliti commented on his new position, stating they are on the cusp of something special as they differentiate their services from competitors.
“As we enter the next phase of our growth, I am delighted to be confirmed in my new role and officially assume responsibility for further developing that cutting edge product suite at a global level for the entire Republic organisation.”
Lake said he had been asked to lead the next stage of Seedrs’ growth in Europe as part of Republic, and he is excited about revolutionizing how venture capital is distributed.
Seedrs was acquired by Republic in 2021 for $100 million in a move designed to provide online capital formation globally. While Republic had commenced a partnership with Seedrs to cross-list offerings, the acquisition sealed a deal that created the largest securities crowdfunding platform in the world.
Seedrs reports that it is the most active investor in the UK for early-stage private companies, having financed over 2,000 deals and participating in rounds totaling over £2.7 billion. In 2023, Seedrs participated in 266 funding rounds, totaling over £353 million. Seedrs has been approved to sell securities in the EU under the new ECSPR ecosystem, allowing it to help firms raise up to €5 million in the EU. The company has set up an office in Ireland as part of its expansion in Europe.