Developing FinTech in the Early Stages
FinTech, in all its varying forms, is hot. Whether in pre-trade risk assessment, collateral management, best execution or clearing, companies are stepping in to solve problems created by the evolution of markets as spurred by regulation. But this creates an issue — how do companies with tangible problems link up with small firms working on the solutions? The growing size of the space and enthusiasm surrounding it further muddies the waters. Enter Seismic Foundry.
Derivatives veterans Dave Feltes, Bill Templer, Cathy Lyall, Brendan Bradley and Jeff Gale are behind the endeavor which aims to provide guidance and investment access to FinTech startups earlier than is common practice. Frequently early ventures only get attention when they already have some clients and are raising larger amounts of money. The Seismic crew wants to get in at the ground floor with their venture capital when these companies are looking for smaller sums of seed money (think in the $100k range).
The group wants to leverage its networks — developed over a combined 150 years in the industry — to match FinTech companies with those institutions (big banks, exchanges, prop shops, etc.) who need their solutions the most. Along the way, they will also provide consulting services.
If successful, Seismic Foundry will be a matchmaker and guide for burgeoning FinTech companies.