The little seed fund we started back in November of 2016 has reached the end of its investment period.  We just closed our last investment.  The fund is closed to any new investments and we aren’t raising another fund. So far, we have had some nice markups on companies we invested in.  The total fund is doing well, but it will be a few years before we realize cash on cash exits.

This week, we invested in MLTech.  We met them through the Chicago Booth New Venture Challenge.  They placed in the Top 10.  This was a convertible debt seed round.  ML is hiring.  This is a tremendous opportunity for an engineer to hop on a great company in the most innovative space going right now, crypto.

We are excited to work with Leo, Markus, Ying, and the rest of the team.  We are really looking forward to being with them on this ride.  Prior to our investment, they had put together a strong cadre of angels in their round.  The team has extensive experience in the hedge fund or trading industry and will put it to use for ML.  Many of the angels are from the trading industry too.  When we chatted with our LPs about this investment, a lot of them were super enthused about it since they are actively trading crypto today.  This investment fits our thesis and was a fat pitch down the middle.

MLTech is a B2B FinTech platform for researchers to (Read more...)