Popular blockchain company AVA Labs acquires Investry in a bid to boost its global business outreach and explore new growth markets. Investry is a private investment firm offering institutional-grade investment solutions.
AVA Labs Acquires Investery Inc. and Appoints New Global Presidenthttps://t.co/kyYJ905FeZ
— Avalanche 🔺 (@avax) February 28, 2020
As more blockchain firms look to diversify their operations, the need to enter more markets is felt. AVA Labs said that the acquisition would prove beneficial in developing private financial assets solutions. Additionally, the current partnerships of Investry will further help AVA make a mark in the private investment realm.
AVA Labs acquires Investry to go beyond blockchain
Blockchain is now applicable in myriad fields ranging from automobiles to complex financial transactions. When a seasoned player like AVA Labs acquires Investry, things will certainly move in a positive direction. The partnership will help amplify AVA’s financial research and management services.
Investry’s expertise in research and asset management in global markets will help open up new growth avenues. Next, they can tap into the financial products sector, deliver innovative blockchain-based solutions, and help investors leverage an all-in-one asset management solution. Chief executive officer and co-founder of AVA Labs, Emin Gun Sirer, is excited about the latest acquisition and said it would be instrumental in gaining new clientele and expand collaborations. CEO of Investry, John Wu, shared similar sentiments and hoped to bank on the increased liquidity due to AVA’s blockchain solutions.
FinTec sector undergoing stable growth
As AVA Labs acquires Investry, Wu will begin his role in the new setup as president. Previously, Wu founded Sureview Capital by partnering with Blackstone and also served at Kingdon Capital and Tiger Management.
February 2020 has been pretty happening when it comes to investments in the finTec sector. Morgan Stanley is reportedly purchasing E*Trade Financial group to expand into the retail online trading and investment realm. Additionally, the New York stock exchange’s owner is also planning to buy Bridge2 software services provider.
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