[ad_1]
Blockchain firm AVA Labs acquired private investment platform Investery to further expand its operations.
AVA Labs told Cointelegraph on Feb. 27 that the acquisition will enhance its financial offering by enabling access to private asset platforms and the issuance of private financial assets. Furthermore, Investery’s existing partnerships will also transition over to AVA.
An expansion to private financial asset management
Acquiring Investery will expand AVA Labs’ capabilities in managing private financial assets. The acquired firm provides a platform that assists investors in researching, managing and transacting in private markets while also helping issuers create new private financial assets. Furthermore, the solution includes multiple marketplaces, allowing investors to see their full inventory in one place.
Emin Gün Sirer, AVA Labs’ co-founder and CEO, said that he expects this acquisition to assist the firm in reaching new customers and broaden its partnerships. John Wu, CEO and Founder of Investery, also said that his firm agrees with AVA’s strategy of leveraging blockchain to drive liquidity.
The firms also announced that Wu will join AVA Labs as president and Lydia Chiu, Investery’s vice president of Business Development and Product, will join the firm with the same role she had before the acquisition.
Before founding Investery, Wu founded Sureview Capital with a strategic investment from Blackstone and was formerly a tech investor at Kingdon Capital and Tiger Management. Chiu, on the other hand, previously worked at Morgan Stanley and Credit Suisse. Furthermore, she was the director of digital assets at SharePost, senior analyst at Sureview Capital.
The last major acquisition in the financial technology space
This month, industry players carried out multiple acquisitions in the financial technology space. As Cointelegraph recently reported, major investment bank Morgan Stanley is buying online trading firm E*Trade Financial Group, which would extend the bank’s offerings to everyday investors.
At the beginning of February, also the Intercontinental Exchange — the owner of the New York Stock Exchange — announced plans to acquire software service Bridge2 in preparation for an app launch from ICE’s subsidiary, Bakkt.
[ad_2]
