When Aquanow was named digital innovator of the year by CrossTech at the 2022 Innovation Awards, chief executive officer Phil Sham pointed out how digital asset markets are now 24/7, upending traditional finance.
And that is exactly where he wants his company positioned.
“We will continue to advance innovation in global capital flows through our proprietary infrastructure,” Sham stated in November.
This month, Aquanow launched a Digital Ventures Fund to support disruptive blockchain technologies.
“At Aquanow, we believe in creating scalable crypto systems that will be a vital part of modern financial services,” said Sham, who cofounded the firm in 2018. “AQN Digital Ventures Fund will accelerate this vision by investing in companies that address problems at various parts of the technology stack for financial service businesses building in crypto.”
Through its subsidiary AQN, the Vancouver-based financial technology startup says that its Digital Ventures Fund has already invested in seven portfolio companies, including BoomFi and lightning work startup Mash’s $6 million seed round.
“With the support of AQN Digital and Aquanow, we look forward to transforming how crypto and digital currency payments for web3 are processed,” stated Michael Si, co-founder and COO of BoomFi.
The venture fund supports disruptive technologies and “provides investors with early-stage access to the most promising founders and businesses of tomorrow, including companies and projects that can tie into its parent Aquanow’s core business, expertise, [and] digital asset infrastructure,” according to a statement from the fintech.
The BC fintech expects to make one to two investments per month going forward.
“AQN Digital’s ability to support digital asset technology companies is indicative of Aquanow’s strong brand equity that the company has cultivated over the past five years,” said Michael Kwok, AQN Digital’s Head of Venture Capital. “Aquanow has already demonstrated global leadership in powering financial service providers with crypto liquidity and infrastructure solutions, and we are excited about the future innovations and entrepreneurs that this fund will support.”
Aquanow serves more than 300 clients across 50 countries. Up from 70 last year, the company currently has 100 team members.