InterVest, a South Korean Venture Capital firm, enters the Web 2.5 space by investing in Intain
SEOUL, SOUTH KOREA, May 10, 2023/EINPresswire.com/ — Intain Inc., a blockchain-enabled structured finance platform, has announced additional seed round funding from InterVest, a 24-year-old South Korean venture capital firm, mostly known for its investments in the Deep Tech space including BioTech and AI. The limited fundraising round included participation from Blizzard, a venture capital fund managed by the Avalanche Foundation, and JAM FINTOP Blockchain, a financial institution focused blockchain infrastructure venture fund.
Using AI and blockchain, Intain provides an automatic, integrated solution to connect all interest parties involved in structured finance – issuers, underwriters, verification agents, auditors, servicers, rating agencies and finally, investors. Starting with servicing conventional loan securitizations, Intain partnered with WSFS Institutional Services, the fourth-biggest trustee in the MBS/ABS (Mortgage/Asset-Backed Securities) sector in 2020. Currently, more than $6 billion in assets have been administered using the IntainADMIN tool with big name partners like Wells Fargo, Wilmington Trust, and UMB Financial.
“We are thrilled to support Intain as it scales to create more efficient and transparent financial markets,” said Morgan Krupetsky, Director of Business Development for Institutions and Capital Markets at Ava Labs, on behalf of the Blizzard Fund. “Intain’s innovative vision, combined with Avalanche’s unique Subnet architecture, will catalyze global adoption of on-chain finance.”
IntainADMIN implemented AI and blockchain to open attractive investment opportunities in the private structured credit market. Building upon the success of IntainADMIN in terms of process automation, Intain will now provide a tokenized marketplace for MBS and ABS deals.
“We invest in the Web 2.5 space, which is essentially the bridge that closes the gap between the two worlds – Web 2.0 and Web 3.0 – to solve real problems using blockchain technology. Intain has streamlined structured finance, which has long been burdened with inefficiencies, by introducing blockchain and AI into the value chain. We are thrilled to become a part of Intain’s journey by providing the exposure into the APAC market through our presence in the region,” said Hogun Lee, Web 3.0 Investment Lead at InterVest.
Intain is now seeking to expand their horizons by exploring new opportunities in other geographical regions like Asia.
“As Intain looks to expand in Asia, we are excited about having Intervest as an investor,” said Siddhartha, Founder and CEO of Intain. “With new age FinTechs startups as portfolio companies and leading Asian financial institutions as LPs, InterVest provides a perfect strategic fit for our Asia strategy.”
About Intain:
Intain is building blockchain-enabled digital platforms for transparency and efficiency in capital market transactions, with initial focus on structured finance. Founded by financial services business and technology veterans, Intain understands the impact – benefits and risk – of technology in financial services. Intain is committed to diversity in fintech and more than 50% of its employees are women. For more information visit www.intainft.com.
About InterVest:
InterVest is a 24-year-old venture capital fund based in South Korea. Throughout the long history of the firm, InterVest has been actively investing in diverse sectors from Deep Tech (Pharmaceuticals, Digital Healthcare, Semiconductors, Artificial Intelligence, etc.), all the way to consumer platforms (F&B, fashion, digital contents, etc.). Along with diversification of vertical sectors, InterVest has been active in global investments since the 2010s – specifically in the US and in Southeast Asia. For more information, visit www.intervest.co.kr
About Blizzard Ecosystem Fund:
Blizzard is a $200M+ fund accelerating development, growth, and innovation across the Avalanche ecosystem and beyond–composed of contributions from the Avalanche Foundation, Ava Labs, Polychain Capital, Three Arrows Capital, Dragonfly Capital, CMS Holdings, Republic Capital, amongst others.
About JAM FINTOP:
JAM FINTOP brings together bank experts and seasoned fintech entrepreneurs to invest in companies changing the way financial institutions and their customers move, track, and interact with money. JAM has a 27-year history investing in public and private community banks, and FINTOP Capital is a leading fintech investor with over 140 years of collective experience. For more information visit www.jamfintop.com.
Hogun Lee
InterVest
hogun@intervest.co.kr
