STIX is the leading OTC platform for the Digital Asset secondary market that facilitates compliant secondary transactions for tokens and equities.
Our investment in their recent $2.7m round was led by Psalion VC, with participation from Big Brain Holdings, Fisher8 Capital, Humla Ventures, 0xkb and TLF Ventures, among others.
The Secondary market has experienced significant growth over the last 15 years. Annual volume has grown from $20bn in 2008 to more than $100bn in both 2021 and 2022. Furthermore, capital raised by secondaries funds has increased by 40% year-over-year in Q1 2023, reaching $62.4bn. This substantial expansion can be attributed to the growing interest of limited partners (LPs) in direct investments and the strong determination of general partners (GPs) to provide distributions to LPs, thereby aiding their fundraising endeavours.
The Digital Asset space has seen significant investment over the last 5 years. According to a report from Bain, up to the end of 2022, 5,000 Web3 firms have cumulatively raised $94bn in startup capital from venture funds, hedge funds, private equity, and other investors.
The market for trading private positions in the Digital Asset sector remains in its early stages, characterised by a pervasive lack of liquidity, elevated counterparty risk, and inefficient pricing mechanisms.
STIX is well positioned to change this through its institutional-grade platform that offers secondary market investments through a trusted and compliant solution. The platform enables data-driven price discovery and is designed to provide sellers with seamless private access to liquidity while granting buyers unmatched access to top-tier projects through a user-friendly and efficient interface. Additionally, the STIX platform has future plans to introduce a comprehensive set of in-house risk management and portfolio analysis tools.
STIX is managed by an experienced team with deep expertise in Web3, capital markets, private equity, and secondaries.
With our participation in this round, we are pleased to be part of STIX’s mission to be the most trusted liquidity avenue for buyers and sellers of illiquid digital assets.
STIX is the leading over-the-counter (OTC) platform for digital asset secondaries. It was founded in Q2 2023 by Taranveer Sabharwal, with the founding team stemming from leading global institutions such as PIMCO, Morgan Stanley, Franklin Templeton, and Wintermute, among others.
About Eterna Capital
Eterna Capital is an investment company focused on blockchain technology. Eterna Capital supports entrepreneurs that envision bold innovative ideas, and have the plan in place to make them happen. Eterna Capital is committed to help them reach their ambitious goals by providing unique insights and support.