IDAP is pleased to announce that Sparx Ventures, an early-stage venture capital firm focused on investing in and mentoring promising, high-growth technology businesses, is joining the project as our strategic partner and investor.
IDAP CEO, Awanish Rajan, stated
“We are excited to have Sparx Ventures join us in our endeavour. Sparx Ventures’ managing partners, Simon Gerovich and Colin Baker, are veterans of the traditional equity derivatives markets and have helped to build a variety of diverse businesses. IDAP’s goal is to enable all traders and investors to access the crypto space through its platform with the same freedom they enjoy in the fiat derivatives markets. Their vast experience and expertise in fintech and broad business relationships will be very valuable for IDAP to launch on the international stage. The entire team looks forward to working closely with them.”
Simon Gerovich said,
“When I first encountered IDAP, I immediately recognized that it had the potential of becoming one of the top crypto derivatives exchanges. IDAP’s advanced desktop platform brings to the crypto world the functionality, speed, reliability and risk management required by professional and institutional traders. Sparx’s aim is to help develop IDAP’s global footprint, and assist in the onboarding of institutional clients and professional traders. I have every confidence in this team’s ability to deliver, and they have already achieved an important milestone by recently launching a public testnet of their exchange. Colin and I are very excited to partner with IDAP.”
“Whilst there are already dozens of crypto exchanges, very few offer derivatives, and with IDAP’s planned roll-out of derivative instruments and spreads, our aim is to make it the preferred derivatives exchange for both sophisticated traders looking to execute complex trading strategies as well as retail investors wishing to control their risk by using products such as spreads and options. The IDAP team have a deep understanding of the derivatives ecosystem as well as extensive trading and technology experience. Their collaborative team approach positions them well to create something very valuable in this growing part of Fintech space.”
added Colin Baker.
Now backed by Sparx Ventures, IDAP aims to cultivate a global network of crypto traders with IDAP’s state-of-the-art crypto derivatives exchange. Simon and Colin are big believers in the opportunities that crypto provides to traders, and their insights will be most helpful in delivering IDAP’s vision of a complete crypto derivatives ecosystem.
About Sparx Ventures
Sparx Ventures provides early-stage venture capital and mentoring for promising, high-growth technology-related businesses. Sparx’s Managing Partners are Simon Gerovich and Colin Baker, two former derivatives traders who now actively invest in and manage a variety of businesses in real estate, hospitality, technology, and healthcare.
Simon is the Chairman of Red Planet Hotels and a former derivatives trader at Goldman Sachs. Colin had a 20-year career trading equity derivatives, initially on the London Traded Options Market (now part of LIFFE) and later in Japan trading Japanese equity derivatives. He is the Executive Chairman of 365 Aviation Ltd and is a board member of several other companies.