LOS ANGELES--(BUSINESS WIRE)--Prometheus Alternative Investments, Inc., a Los Angeles, Calif.-based fintech startup, raised $5M in its oversubscribed seed round funding to forge the web’s first community centered around investment professionals.
The round was led by 8VC/Joe Lonsdale with participation from a diverse set of prominent investors including Kyle Bass (Hayman Capital), Gaingels, John Quinn (Quinn Emanuel), Gil Weisblum (family office of Barry Diller), Jared Rothman (family office of Dennis Washington), Thane Ritchie, Curtis Macnguyen (Inflection Capital & Ivory Capital), Kim Kolt (For Good Ventures), Alok Agrawal (Bloom Tree Capital), Chris Blum (Global Head of Equities at JP Morgan Wealth Management) and Khalid Malik (Meridiem Capital).
Founded by former star hedge fund manager Michael Wang, Prometheus brings together a social network with a marketplace, connecting investors with hedge funds, crypto funds, venture capital, private equity, commodities, and the experts behind those funds.
Wang stated: “As we grow this community and I talk to more and more investors and colleagues, I’ve come to realize that Prometheus isn’t just about democratizing access to alternative funds, it’s about changing the way we talk finance, the way we share ideas, the way we invest together in bettering our world, not simply growing wealth. We first chose the name Prometheus to depict sharing the fires of Wall Street with Main Street investors. Now we see we’re lighting up a whole new way of thinking about investing.”
About Prometheus Alts
Prometheus was founded by hedge fund professionals seeking to modernize their archaic industry, and share insights gained over their years of analysis and managing alternative funds. Understanding that these types of long-term investments depend on building relationships, CEO Michael Wang coupled the idea of a social network with an alt funds marketplace. Though ancient laws restrict the opportunity to invest in these funds to accredited investors, the social network opens up the knowledge base to everyone… until the time comes when we can modernize the laws and create open access to some of the world’s best investments for everyone. Join the community and the #altsforus mission at prometheusalts.com.