Homegrown alternate asset manager 360 ONE Asset Management Ltd, formerly known as IIFL Asset Management, has invested Rs 200 crore (around $25 million) in real estate consultancy firm Anarock Property Consultants Pvt. Ltd.
Anarock, which is active in India and the Middle East, said the investment will help the company improve technology, accelerate expansion, and introduce innovations.
“The capital has been earmarked for faster business expansion and fine-tuning our proprietary proptech platforms, which have proved to be game changers for our real estate marketing capabilities,” Anarock Chairman Anuj Puri said. “We will continue to explore new high-growth business opportunities.”
Anarock was founded in 2017 by Rohin Shah and Puri. Shah is also the managing director of UK-based Marylebone Asset Management.
Over the last six years, the firm has expanded from being a residential-focused organisation to complementary sectors including retail, commercial, hospitality, logistics and data centres, industrial and land.
Anarock also offers strategic advisory, investment banking, research, and valuations. It also provides app-based flexible workspaces and society management services and has a team of over 2,200 professionals.
Sameer Nath, chief investment officer and head of venture capital and private equity at 360 ONE Asset, said that the investment was backed by Anarock’s management team, premier marketing and advisory capabilities and a clear leadership in India’s large and growing real estate services sector.
360 ONE Asset is a part of the 360 ONE group, a wealth and alternates-focused institution with more than $54 billion in assets under management.
SINGAPORE, Jan. 25, 2024 /PRNewswire/ — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced its seed round investment in B² Network, the first EVM-compatible rollup based on zero-knowledge (ZK) proof verification commitment on Bitcoin and the first data availability (DA) layer for Bitcoin rollups.
B² Network is a Bitcoin Layer 2 network that utilizes ZK rollup and an on-chain logical gate commitment verification mechanism. Its goal is to address the scalability challenges of Bitcoin while maintaining its core principles of decentralization, trustless operations and a transparent ledger. The network is EVM-compatible, developer-friendly, and supports users with both Bitcoin and Ethereum account addresses, intending to broaden the utility and influence of Bitcoin and its emerging derivative assets in the Web3 space. Additionally, it provides a DA layer for other Bitcoin rollups, accelerating the expansion of the BTC ecosystem.
OKX Ventures Founder Dora Yue said: “We are honored to invest in B² Network. The Bitcoin ecosystem has seen tremendous growth over the past year. However, its diversity of applications has been restricted by its Turing incompleteness, transaction costs and network congestion. On the other hand, B² Network being EVM-compatible, addresses Bitcoin‘s scalability issue while diversifying the Bitcoin ecosystem. It allows interoperability between Ethereum and Bitcoin for on-chain application development. This addresses the challenges and needs of the Bitcoin network, fostering the future development of its ecosystem.”
To learn more about B² Network, click here.
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About OKX Ventures
OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
SOURCE OKX Ventures
Image Credits: Thomvest Ventures / Thomvest Ventures’ managing directors, from left, Don Butler, Umesh Padval and Nima Wedlake
Thomvest Ventures is popping into 2024 with a new $250 million fund and the promotion of Umesh Padval and Nima Wedlake to the role of managing directors.
The Bay Area venture capital firm was started about 25 years ago by Peter Thomson, whose family is the majority owners of Thomson Reuters.
“Peter has always had a very strong interest in technology and what technology would do in terms of shaping society and the future,” Don Butler, Thomvest Ventures’ managing director, told TechCrunch. He met Thomson in 1999 and joined the firm in 2000.
As we’ve seen over the past few years, the venture capital industry can’t help but be cyclical. Thomvest has watched it for decades, and in 2010 decided to leave the generalist world behind to specialize in investment in a few key industries, Butler said.
“For example, every time a specialist in cybersecurity would speak, you knew that this was somebody who knew the market intimately, knew our competition, knew the customers, knew the market demand,” Butler said. “And we were like, ‘Okay, we want to be like them.’”
Today, Thomvest Ventures deploys capital in the areas of financial and real estate technology, cybersecurity, cloud and AI/data infrastructure.
The new $250 million in capital commitments brings the firm’s total assets under management to $750 million.
Butler expects to invest in between 25 and 30 companies from the new fund. Check sizes will be $5 million to $15 million for early-stage and $7 million to $25 million in the later stage. Thomson has made a few investments so far, but they haven’t been made public yet, he said.
“The last two quarters have yielded record numbers of new prospects for us,” Butler said. “At a later stage the best companies were able to get to some form of profitability and avoid sort of the repricing through the market. The internal investors knew what they had and said ‘We will take care of this.’ Now we’re starting to see companies that have gotten somewhere at the later stage and want to pick their growth rates back up.”
Thomvest raised its previous fund in 2017 and has made over 75 investments in total. Some notable companies include Blend Labs, Carta, Cohere, Kabbage, LendingClub, SoFi and Vungle.
Meanwhile, now managing directors, Umesh Padval will continue to lead investments into cybersecurity, cloud and AI/data infrastructure, while Nima Wedlake leads investments in real estate technology.