- Funderbeam has received $40 million in funding, boosting its total raised to just under $60 million since it was founded in 2013.
- Venture private equity group VentureWave led the round, taking a majority stake in Funderbeam.
- The investment also brings a strategic partnership between Funderbeam and VentureWave, as the two seek to facilitate venture deals and offer access to the secondary market.
Angel investing and trading platform Funderbeam received $40 million in funding this week. The investment brings the U.K.-based company’s total funding to just shy of $60 million. Leading the round is Ireland-based venture private equity group VentureWave, which now holds a strategic majority stake in Funderbeam.
With this week’s fresh funding and strategic partnership, the two organizations will combine efforts to facilitate venture deals and offer access to the secondary market for venture deals for both institutional and angel investors.
“VentureWave’s investment in Funderbeam is a game-changer for the industry, shaping the future of venture markets and enabling access to global venture deals and secondaries,” said VentureWave Chairman Alan Foy. “Together, we have the necessary assets, technology, and capital to take on the entire venture investment life cycle. This represents a transformative moment to put impact at the centre of the investment industry.”
Notably, the partnership will enable Funderbeam to serve institutional clients, including VC funds, family offices, brokers and investment banks. The company will continue to serve investor networks and provide its flagship private-market-as-a-service offering, Angel Market. Additionally, as Funderbeam Founder and CEO Kaidi Ruusalepp noted, the deal will enable his firm to accelerate its vision, which he described as “to serve venture investments across borders and create a unique secondary market for private assets.”
Additional investors in today’s round– which is subject to approval by regulators in the U.K., Singapore, and Estonia– include Mistletoe, Draper Associates, and Ruusalepp.
Founded in 2013, Funderbeam offers a platform to help solve liquidity for angel and venture investments. The company’s technology helps investor networks, accelerators, and other venture investors manage their syndicated investments, post-investment flows, and handle secondary transactions across borders.