Chainfund Announces Investment into Bakkt

Chainfund Capital announces its investment into Bakkt, InterContinental Exchange’s global platform and ecosystem for digital assets.

Having co-invested in a Series A round alongside Microsoft, Starbucks, Boston Consulting Group, and other industry leaders, Chainfund’s strategic investment is intended to support Bakkt in its mission to build a total ecosystem for digital assets using InterContinental Exchange’s proven market infrastructure.

This will include the industry’s first physically delivered Bitcoin futures contracted with physical warehousing — a highly anticipated institutional onramp due for launch in 2019 pending regulatory approval.

Bakkt, first unveiled by InterContinental Exchange in August 2018, intends to work closely with its founding investors to create a global ecosystem for institutional and retail consumers to buy, sell, store, and spend digital assets.

Kingsley Advani, Partner and Co-Founder of Chainfund Capital, commented on his fund’s role in the $182.5m raise:

Chainfund Capital is strongly behind Bakkt’s vision of a seamless, borderless ecosystem for digital assets.

As a leading early-stage technology venture capital fund, Chainfund Capital stands firmly behind Bakkt as it continues to develop and drive pioneering initiatives in the global adoption of digital assets.