Search company, investor...

Predict your next investment

Advisory
spartangroup.io

Investments

98

Partners & Customers

1

About Spartan Group

Spartan Group is a blockchain advisory and investment firm. Spartan Group is committed to bringing over 50 years of experience in public market investing, venture capital, financial advisory and regulatory analysis to create and capture value in the decentralized financial world.

Headquarters Location

15 Beach Road, 3rd Floor

189677,

Singapore

Want to inform investors similar to Spartan Group about your company?

Submit your Analyst Briefing to get in front of investors, customers, and partners on CB Insights’ platform.

Latest Spartan Group News

Decentralised Crypto Exchange Brine Fi Bags $16.5 Mn Funding, Valued At $100 Mn

Sep 8, 2023

SHARE Share story The funding round was led by Pantera Capital and also saw participation from Elevation Capital, Starkware, Spartan Group, Goodwater Capital, among others Founded in 2021 by Shaaran Lakshminarayanan, Ritumbhara Bhatnagar and Bhavesh Praveen, Brine Fi is a DEX targeted at institutions and high-frequency traders The fundraise comes at a time when investors are veering towards decentralised crypto exchanges in the aftermath of the collapse of FTX Decentralised crypto exchange (DEX) Brine Fi has raised $16.5 Mn in its Series A funding round, led by Pantera Capital, at a valuation of $100 Mn. The round also saw participation from Elevation Capital, Starkware, Spartan Group, Goodwater Capital, Upsparks Ventures, Protofund Ventures and other angel investors, Brine Fi said in a statement. However, the startup did not specify where it would deploy the fresh funds. “… with Brine Fi we make it easy for institutions, centralised exchanges, HFT traders and retail users to reduce their counterparty risk and at the same time get the best price for their orders in the industry,” said Brine Fi cofounder and CEO Shaaran Lakshminarayanan. Chiming in, Pantera Capital managing partner Paul Veradittakit said, “Brine tackles some of the most important challenges holding back institutional and mainstream user adoption in DeFi. There’s an urgent demand for a self-custodial execution layer that is faster, more reliable, user-friendly, and cost-effective.” Founded in 2021 by Lakshminarayanan, Ritumbhara Bhatnagar and Bhavesh Praveen, Brine Fi is a crypto decentralised exchange targeted at institutions and high-frequency traders. The platform deploys StarkWare’s zkP (Zero Knowledge Proofs) technology which enables privacy on crypto trading positions (avoids frontrunning). It also claims to help users execute orders in milliseconds while remaining fully non-custodial. Brine Fi claims to have so far onboarded some of the world’s largest hedge funds, exchanges and high-frequency traders in the crypto space. The fundraise comes weeks after Brine Fi debuted its orderbook platform which, as per the company, is processing monthly volumes of $300 Mn and is ranked among the top 10 DEXs globally. The fundraise comes at a time when centralised crypto exchanges have come under fire in the aftermath of the collapse of FTX. As a result, a host of traders have veered towards DEXs, seeking to safeguard their portfolios. Brine Fi aims to capture the burgeoning decentralised exchange market, which continues to be plagued by issues such as cumbersome user interface, frontrunning and limited support. Meanwhile, the crypto ecosystem has been hit by regulatory red tape and wary investors who have been spooked by the collapse of crypto exchanges . This has led to a fall in crypto volumes even as nations across the globe move to tighten the noose around these virtual currencies as instances of money laundering via cryptos rise. With Sequoia Capital recently slashing its crypto fund by more than 65% to about $200 Mn, a slew of other allied players have emerged in the crypto space to leverage the booming web3 economy. As much unfolds in the crypto ecosystem, the fundraise by Brine Fi has come as a much needed respite for the space which has been mired in controversies lately.

Spartan Group Investments

98 Investments

Spartan Group has made 98 investments. Their latest investment was in Brine Fi as part of their Series A on September 9, 2023.

CBI Logo

Spartan Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/7/2023

Series A

Brine Fi

$16.5M

Yes

2

9/5/2023

Unattributed VC

Glenen

Yes

2

9/5/2023

Seed VC - IV

Glean AI

$4.9M

Yes

6th Man Ventures, Sam Lessin, Slow Ventures, South Park Commons, Spartan Group, Undisclosed Angel Investors, and Undisclosed Venture Investors

2

9/5/2023

Seed VC

Subscribe to see more

$99M

Subscribe to see more

10

8/22/2023

Seed VC - II

Subscribe to see more

$99M

Subscribe to see more

10

Date

9/7/2023

9/5/2023

9/5/2023

9/5/2023

8/22/2023

Round

Series A

Unattributed VC

Seed VC - IV

Seed VC

Seed VC - II

Company

Brine Fi

Glenen

Glean AI

Subscribe to see more

Subscribe to see more

Amount

$16.5M

$4.9M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

6th Man Ventures, Sam Lessin, Slow Ventures, South Park Commons, Spartan Group, Undisclosed Angel Investors, and Undisclosed Venture Investors

Sources

2

2

2

10

10

Spartan Group Partners & Customers

1 Partners and customers

Spartan Group has 1 strategic partners and customers. Spartan Group recently partnered with Stacks on April 4, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

4/23/2019

Partner

United States

1

Date

4/23/2019

Type

Partner

Business Partner

Country

United States

News Snippet

Sources

1

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Join a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.