Vincent, a sort of search engine for alternative investing, is fielding a massive demand for crypto as the platform launches out of beta with $2 million in funding.
“Between October and November alone, investors looking for digital assets have grown 80%,” said Slava Rubin, Vincent co-founder and executive chairman. “Considering digital assets today represent less than 10% of the total available deal volume on Vincent, there is significant room to grow and we are just scratching the surface of helping investors gain access to the space.”
Created by the team behind crowdfunding platform Indiegogo, Vincent currently includes regulated crypto deals from Grayscale, Republic and Cadence among its 50 or so investments. Other verticals include real estate, venture capital, private equity, debt, art and collectibles. More crypto, such as non-fungible tokens (NFTs), will be added soon, according to Rubin.
To date, more than 100,000 investment searches have been conducted by 15,000 unique investors, Rubin said.
“We’re in touch with a few larger crypto investment platforms to add their deals into our search engine,” he said. “For us, we do want to vet each platform we work with to ensure compliance and trust, so it takes a bit longer with an asset class as new as crypto.”
Investors in the $2 million round include Uncommon Denominator, Rubin’s own Humbition, ERA and The Fund, as well as several strategic angels including Jeff Fagnan (Accomplice, AngelList), Alap Shah (Sentieo) and Lazslo Bock (Google, Humu).
Vincent users are asked to self-qualify as accredited investors where necessary and explain how they are verified, said Rubin. Thereafter the actual transactions are happening on the partner platforms, which perform their own know-your-customer (KYC) and anti-money laundering (AML) checks.
Rubin said the average Vincent user is looking at about 25 deals and comparing multiple asset classes, rather than focusing on any one area.
“This gives you a broader understanding of the landscape,” Rubin said. “If you want to get totally committed to one thing then great. We think the way this market is going to become much bigger is to make it easier for people to discover and analyze alternatives.”
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.