FinTech news in advisor category

A major motivation behind launching Symbolic for Nailwal was the opportunity to more formally support companies that are already in his orbit, he said, adding that he doesn’t feel he will have to spend much extra time managing the fund because it will help him realize synergies from relationships he’s already building, in part through Polygon’s own venture fund. Symbolic plans to primarily back companies building consumer-facing decentralized apps (dApps), Nailwal said, a move that seems aligned with Polygon’s own goal to speed up web3 app development. Now, the protocol co-founder Sandeep Nailwal is launching another project, he told journalist exclusively — this time, in the form of Symbolic Capital, a venture capital fund built by and for web3 founders. One key differentiator for Symbolic will be its internal data platform the firm has built to support its portfolio companies as well as to bolster its own diligence process, Nailwal said.

Solomon co-founded Sunscreen last year alongside threshold cryptography veteran MacLane Wilkison of Y Combinator-backed NuCypher.

Nnadi says his company will engage more African governments — including those who have an anti-crypto stance like Nigeria and Kenya– to see the benefits of blockchain and assist in drafting licensing regimes for crypto companies to operate in their countries. In a statement, the company revealed that it struck a partnership with the Central African Republic — the first country to legalize bitcoin as a legal tender in Africa and second globally only to El Salvador –to become its official crypto partner and an advisor to the president on crypto strategy and planning.

The fund is supported by G Squared Management Co.; Scott Shleifer, co-founder and partner of Tiger Global Management; Sebastián Mejía, co-founder and president of Rappi; Fabián Gómez, co-founder and CEO of Frubana; Roger Laughlin, co-founder of Kavak; and founders of iFood and Mercê do Bairro.

Some ultra-wealthy investors have made a windfall investing in alternatives using tax-advantaged accounts, a strategy billionaire Peter Thiel used to grow his Roth individual retirement account from $2,000 to $5 billion in 20 years, tax-free. While crypto is one of the fastest-growing areas of interest for Alto users, Satz said he expects demand to grow in other areas, including private company investing and artwork.