The tesseract may be one of the most important infinity stones in the Marvel film franchise, but in in the real world the name has helped Augmentum Fintech snap up its first investment in the crypto sector.
The fintech-focused investment trust has unveiled a $10m (£7.3m) investment in Tesseract Group.
The company is nothing to do with Marvel, the evil Thanos or even Loki’s alternative timeline.
Tesseract is a Finnish listed company that provides the infrastructure for institutions to invest in cryptocurrencies.
It is also the fund’s first investment in Finland and decentralised finance.
The investment is part of a $25m Series A funding round for Tesseract that Argumentum is leading.
Other investors include Sapphire Ventures, BlackFin Capital Partners, DN Capital, Coinbase Ventures, Wintermute and Woorton.
“We are witnessing wholesale changes in digital assets infrastructure as it evolves to the demands of increasing institutional activity,” Martyn Holman, a partner at Augmentum Fintech, said.
“Following the separation of custody and trading in the first waves of evolution, Tesseract is addressing the next fundamental need in a space that has limited leverage capabilities.
“Tesseract’s management team have built a strong and profitable foundation with a great product and a clear vision”.
Yichen Wu, founder of Tesseract, said the funding would go towards developing its institutional offering, hiring more staff and developing existing partnerships.
“This funding is a significant milestone for Tesseract and one of the largest Series A investments in Finland to date,” Wu said.
“We are humbled to gain new industry-leading investors in technology, finance, and blockchain whose expertise will add significant value beyond the raised funding.
“We are extremely happy to see incredible global investor interest in our business in this oversubscribed round.”