Founders of Crypto Exchange Bitpanda Launch Their Own Investment Vehicle

UTC by Bhushan Akolkar · 2 min read
Founders of Crypto Exchange Bitpanda Launch Their Own Investment Vehicle
Photo: Unsplash

Through their investment vehicle, BitPanda has so far invested in Consola Finance, a web3 accounting platform, payments startup Payable, and developer tooling startup Tatum. 

The founders of the crypto investment and trading platform Bitpanda have embarked on a new journey by launching their own investment vehicle.

The registers of the Austrian company show that in May 2021, the founding trio – Eric Demuth, Paul Klanschek and Christian Trummer – applied to set up a firm dubbed Diamon Hand Ventures. The trio seems to be working in the footsteps of other fintech founders working on similar side initiatives.

As per the filing submitted to the UK’s business register Companies House showed that the trio also participated in the $50 million Series B funding round of crypto custodian Copper. Through their investment vehicle, the Bitpanda founders have invested in Consola Finance, a web3 accounting platform, payments startup Payable, and developer tooling startup Tatum.

Speaking to The Block, a Bitpanda spokesperson also confirmed that Demuth made angel investments in Finery, a French fintech company.

The new investment vehicle from Bitpanda will work as a special-purpose vehicle as it will allow the founders to make angel investments. The people familiar with the matter said that it won’t function as a venture capital firm since it won’t take any outside capital. During an interview, Jacob Kobler, Consola founder and former crypto product lead at Bitpanda, said:

“They started investing as angels, but now the founders have a company that handles these transactions. It’s super small and if you Google the name, you will see another venture capital firm with the same name.”

More About the Investment Vehicle Launched by BitPanda

The investment vehicle from BitPanda will follow similar other products launched by some billionaire fintech founders. Revolut founder Nik Storonsky launched his venture capital firm earlier in May. In August last year, Checkout.com CEO Guillaume Pousaz founded his family office Zinal Growth.

Amid the crypto winter this year, crypto investment firm BitPanda has also been facing a few challenges. In June, BitPanda decided to cut down its staff by a third.

However, this hasn’t stopped BitPanda from launching a few more services in the market. In September, BitPanda started offering commodities trading to its 2.7 million customers. One of its co-founders Eric Demuth said:

“Bitpanda customers can now bet against their gas bill and benefit from the short-term price movements of key commodities like oil, natural gas, corn, wheat and many more.”

Earlier this year, BitPanda also secured the license to offer crypto custodian services to institutional clients.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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