Covey.io – Changing the Game for Active Fund Management
Social Leverage Portfolio Company Covey Raises $2.5M Seed Round
Covey (Fund IV) closed a $2.5M seed round, led by Social Leverage and Portage Ventures. Cue Ball and BoxOne also participated.
Covey was founded by Brooker Belcourt, an investor who spent seven years managing funds for Citadel, a Tiger Management seeded Fund, and Coatue. Initially built as a personal tool to simulate and track his own portfolio strategies, Brooker realized Covey could become the future of active management.
Covey’s analyst-owned community hosts hundreds of analysts–ranging from hobbyists to traditional finance industry vets, and everyone in between. It’s designed to find and reward the world’s next top money managers. Covey removes the traditional barriers to connect investors directly to proven top performing investment managers. The top 10% of analysts earn the option to become an investment manager on Covey’s Copy Trading app (launching 2023), offering unlimited earning potential as independent investors invest alongside them.
“I learned how hard it was to beat the market, but I also saw a small group of Analysts that consistently won. That talent can come from any background, we need an open platform to find the Analysts that can consistently beat the market and allocate money to them,” said Brooker Belcourt, Founder, and CEO of Covey.
Covey will use the funds to continue building its platform, with an emphasis on its token launching this fall and copy trading launching in 2023. Additionally, Covey is expanding the engineering team, with plans to almost double its size by (Read more...)