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Venture Capital
wakestreamventures.com

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Investments

26

Portfolio Exits

2

Funds

1

About Wakestream Ventures

Wakestream Ventures is the financial investment and strategic counsel behind fast-moving, high-growth emerging technologies and platforms. The firm makes early stage investments in high-growth technology, hardware-software convergence and e-commerce enablement.

Wakestream Ventures Headquarters Location

40 Pearl Street NW #200

Grand Rapids, Michigan, 49503,

United States

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Latest Wakestream Ventures News

Digital Power Optimization Partners with NYDIG in $2.5 Million Series A Funding

Feb 10, 2022

Digital Power Optimization Inc., a leading energy services provider, has announced the closing of a $2.5 million Series A funding round led by bitcoin company NYDIG. Other investors participating in the round include Wakestream Ventures, NBDR Ventures, Luxor Technologies, and private individuals within the renewable energy, cryptocurrency, and bitcoin mining sectors. DPO and NYDIG’s new strategic partnership allows the companies to tailor their complementary products to clients in the utility and renewable power industries. These clients are becoming increasingly aware of the tremendous flexibility bitcoin mining offers to power producers and grid operators in enabling the development of additional renewable generation and maximizing the efficiency of existing assets. Proceeds from this raise will be used to continue growing DPO’s team of experts and bring Cryptocurrency Mining as a Service (CMaaS) to the global power and utility industries. “We are excited about this new round of funding led by NYDIG and the quality partnerships that come with it,” said  Andrew Webber , CEO of Digital Power Optimization. “NYDIG has an exceptional track record and reputation, and has the experience to help DPO’s clients with challenges like secure custody, production hedging, transaction execution, regulatory guidance, insurance, and equipment financing in an institutional fashion. In the end, this partnership makes it easier for DPO to do its job of bringing the flexibility and advantages of bitcoin mining directly to the energy sector as a much-needed aid in the management of power grids and the clean energy transition.” “We’re thrilled to lead this Series A funding round and partner with DPO in using bitcoin mining to help the power industry,” said  Joshua Burandt , Head of Mining Services at NYDIG. “We’re confident in DPO’s vision and the team’s ability to execute on this unique approach. Together, DPO and NYDIG can provide a holistic solution to some of the power industry’s biggest problems by leveraging the Bitcoin Network.”

Wakestream Ventures Investments

26 Investments

Wakestream Ventures has made 26 investments. Their latest investment was in Digital Power-Optimization as part of their Series A on February 2, 2022.

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Wakestream Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/9/2022

Series A

Digital Power-Optimization

$2.5M

Yes

1

7/26/2021

Series A

MaxOne

$3.5M

Yes

5

6/24/2021

Series B

Orbion Space Technology

$20M

No

7

10/29/2020

Series C

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$99M

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10

2/3/2020

Series B

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$99M

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10

Date

2/9/2022

7/26/2021

6/24/2021

10/29/2020

2/3/2020

Round

Series A

Series A

Series B

Series C

Series B

Company

Digital Power-Optimization

MaxOne

Orbion Space Technology

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Amount

$2.5M

$3.5M

$20M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

1

5

7

10

10

Wakestream Ventures Portfolio Exits

2 Portfolio Exits

Wakestream Ventures has 2 portfolio exits. Their latest portfolio exit was Jiobit on April 27, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/27/2021

Acquired

$99M

6

3/1/2019

Acquired

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$99M

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10

Date

4/27/2021

3/1/2019

Exit

Acquired

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

6

10

Wakestream Ventures Fund History

1 Fund History

Wakestream Ventures has 1 fund, including Wakestream Ventures I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Wakestream Ventures I

1

Closing Date

Fund

Wakestream Ventures I

Fund Type

Status

Amount

Sources

1

Wakestream Ventures Team

2 Team Members

Wakestream Ventures has 2 team members, including current Chief Executive Officer, Rick DeVos.

Name

Work History

Title

Status

Rick DeVos

Chief Executive Officer

Current

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Name

Rick DeVos

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Work History

Title

Chief Executive Officer

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Status

Current

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