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Venture Capital
westloopventures.com

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Investments

12

Portfolio Exits

2

Funds

1

About West Loop Ventures

West Loop Ventures funds early stage founders that solve problems in institutional finance.

West Loop Ventures Headquarter Location

Chicago, Illinois,

United States

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Latest West Loop Ventures News

ML Tech Raises $1.75 Million Seed to Scale Technology, Accelerate Growth

Sep 1, 2021

ML Tech Raises $1.75 Million Seed to Scale Technology, Accelerate Growth CHICAGO, August 31, 2021-- ML Tech has closed a $1.75 million seed round from West Loop Ventures, OCA Ventures, Tellus Tech Ventures, Rebel One Ventures, Floating Point Group, as well as executives and traders from the high frequency trading (HFT) industry. ML Tech engages in the crypto asset space by providing a HFT platform for quant researchers, while connecting them with institutional capital. ML Tech offers low exchange fees, access to large pools of capital as well as top execution speeds and robust infrastructure to give experienced researchers an optimal strategy development environment. Leo Mindyuk, CEO at ML Tech, said that the company plans to use its newly acquired funds to integrate with additional trading venues, scale its cloud infrastructure, onboard more researchers, and enhance its financial reporting capabilities. ML Tech is actively hiring new personnel to build its fast growing business. “ML Tech is solving problems in the cryptocurrency space in a very unique and scalable way,” says Jeff Carter, general partner at West Loop Ventures. Carter is a former independent trader and CME Board Member. Carter and his partner, former high frequency trader Kenny Estes, met Leo Mindyuk through their connections at Chicago Booth. This will be West Loop’s final initial seed investment, Carter says. Estes was an early employee at Getco and was impressed with ML Tech’s platform and approach to the marketplace. “ML Tech is creating a highly innovative and disruptive platform for quantitative researchers to execute upon their strategies in the capital markets, which could unleash QR talent from the grips of trade execution and large firm bureaucracies, finally democratizing the playing field for researchers. OCA Ventures is very excited to help Leo and ML Tech team, and we praise University of Chicago’s New Venture Challenge for helping to bring this inspiring company to market!” stated Jim Dugan, Founding Managing Partner of OCA Ventures. This landmark for ML Tech follows its participation in the University of Chicago’s New Venture Challenge, where they ranked as the top FinTech company. The New Venture Challenge is the highest ranked university accelerator program in the nation. ML Tech’s platform already has successful researchers and large institutional crypto investors who invest through the platform. Last month the trading strategies generated more than $150M in trading volume and had outsized returns. Leo Mindyuk believes this funding and support from strategic backers will allow ML Tech to bring more users to the platform and build upon the existing momentum. For more information, please visit https://mltech.ai/ and https://www.linkedin.com/company/mltech/.

West Loop Ventures Investments

12 Investments

West Loop Ventures has made 12 investments. Their latest investment was in ML Tech as part of their Seed VC on August 8, 2021.

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West Loop Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/31/2021

Seed VC

ML Tech

$1.75M

Yes

Floating Point, OCA Ventures, Rebel One Ventures, and Tellus Tech

3

11/27/2020

Seed VC - II

Vauban Technologies

$2.14M

No

Argonautic Ventures, Kima Ventures, Pi Labs, and UFP Fintech

3

11/1/2020

Seed VC - II

Kover.ai

$5M

No

Afore Capital, and Foundation Capital

2

11/22/2019

Series B

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$99M

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10

11/4/2019

Seed VC

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$99M

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10

Date

8/31/2021

11/27/2020

11/1/2020

11/22/2019

11/4/2019

Round

Seed VC

Seed VC - II

Seed VC - II

Series B

Seed VC

Company

ML Tech

Vauban Technologies

Kover.ai

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Amount

$1.75M

$2.14M

$5M

$99M

$99M

New?

Yes

No

No

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Co-Investors

Floating Point, OCA Ventures, Rebel One Ventures, and Tellus Tech

Argonautic Ventures, Kima Ventures, Pi Labs, and UFP Fintech

Afore Capital, and Foundation Capital

Sources

3

3

2

10

10

West Loop Ventures Portfolio Exits

2 Portfolio Exits

West Loop Ventures has 2 portfolio exits. Their latest portfolio exit was OpenFinance Network on October 27, 2020.

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

10/27/2020

Acquired

3

00/00/0000

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10

Date

10/27/2020

00/00/0000

Exit

Acquired

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Companies

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Valuation

Acquirer

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Sources

3

10

West Loop Ventures Fund History

1 Fund History

West Loop Ventures has 1 fund, including West Loop Venture Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/8/2016

West Loop Venture Fund

$3M

1

Closing Date

12/8/2016

Fund

West Loop Venture Fund

Fund Type

Status

Amount

$3M

Sources

1

West Loop Ventures Team

2 Team Members

West Loop Ventures has 2 team members, including current General Partner, Jeffrey Carter.

Name

Work History

Title

Status

Kenny Estes

Founder

Current

Jeffrey Carter

General Partner

Current

Name

Kenny Estes

Jeffrey Carter

Work History

Title

Founder

General Partner

Status

Current

Current

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