ASGARD Partners & Co. Acted as Strategic & Financial Advisor to bcause, LLC
NEW YORK, Oct. 18, 2017 /PRNewswire/ -- ASGARD Partners & Co., a financial services firm announced that it successfully advised bcause, LLC in structuring and raising an equity investment led by SBI Holdings (previously Softbank) with participation from existing shareholders.
Founded in 2012, bcause is building a crypto-currency ecosystem in the United States and has filed for regulatory oversight of the CFTC as a Designated Contracts Market (DCM). SBI Holdings will also be providing significant amounts of crypto-currency mining gear to be co-located at bcause's mining operations in Virginia Beach, VA.
Fred Grede, CEO of bcause said, "ASGARD's deep understanding of the bcause business model and strong process execution capabilities enabled us to convey our story in a highly compelling manner. The result was a great outcome for our company, employees, and stakeholders. ASGARD did an excellent job of handling this complex transaction from start to finish and we appreciated their level of senior attention and guidance. We want to thank Karan and the team at ASGARD for their thoughtful and trustworthy guidance culminating in this successful outcome. We look forward to continuing to work with the ASGARD team in the future."
bcause was recently named one of the top 20 Innovative Companies in the Futures Industry by the trade group, FIA, and will be present at the 33rd Annual FIA Expo in Chicago to showcase its services to more than 5,000 attendees at the largest gathering of derivatives professionals in the world. The Innovators Pavilion is sponsored by Amazon Web Services and Nasdaq.
"Our partnership and representation of bcause in this transaction signifies our belief in the growing adoption of crypto-currencies across major industries. bcause is a leading-edge technology company that is developing an innovative derivatives market – the first of its kind in the US," said Karan Rai, Founder and CEO of ASGARD. "We believe bcause has built the strongest team, and has the best approach, to play a critical role in helping retail and institutional clients to hedge risk using derivative products for bitcoin, ethereum, and other crypto-currencies. We look forward to a continued partnership with the company."
Media Contact:
For ASGARD:
Robert Beall, 646-867-7259
[email protected]
About ASGARD
ASGARD Partners & Co. is a next generation financial services firm combining growth advisory, capital markets advisory, and private equity investments into one platform to better and more efficiently serve clients and investors globally. ASGARD believes business is a powerful platform that can change the world for the better and is committed to serving entrepreneurs, companies, and investors that share this belief. For more information about the firm, please visit https://asgardpartners.com
About bcause
Founded in 2012, bcause is building a crypto-currency ecosystem in the United States and has filed for regulatory oversight of the CFTC as a Designated Contracts Market (DCM). With presence in Chicago and Virginia Beach, bcause is led by Frederick Grede, former Executive Vice President of the Chicago Board of Trade and CEO of the Hong Kong Futures Exchange. Members of the management team have extensive experience creating new exchanges, having successfully started four previous exchanges. Other members of the team have extensive experience building large, complex IT systems and IT security systems.
SOURCE ASGARD Partners & Co.
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article