tZERO Group, Inc., a provider of blockchain-based financial infrastructure, announced a funding round led by Marc and Max Cohodes, with participation from existing investor Intercontinental Exchange, Inc. (NYSE: ICE) and Bill Fleckenstein, as well as support from partner Dinari, Inc. and others. Neighborhood Intelligence also committed to support the round, with its portion contingent on tZERO announcing a binding agreement for a strategic transaction such as a change of control, sale of substantially all assets, or merger with a SPAC or another entity.
The financing is part of tZERO's broader long-term capital plan to power its growth as it works toward a strategic transaction to drive the next phase of its development and long-term capital stability. The company is advancing its infrastructure-as-a-service (IaaS) offering for tokenized securities and other assets. tZERO's solutions connect tokenization, trading, custody, and asset servicing, helping financial institutions bring blockchain-based assets to market through regulated infrastructure.
"This funding supports tZERO's operations and execution as we work to position the Company for capital independence and continue to commercialize and expand the infrastructure for tokenized financial markets," said Alan Konevsky, Chief Executive Officer of tZERO. "We are grateful to our participating investors for their confidence in our business."
Marc Cohodes, the lead investor, noted his long-standing support: "This is my third investment round in tZERO over the last eight years. I believe that tZERO has never been in a stronger position or better managed and has a leading robust pipeline for its infrastructure services with a range of institutional clients. I cannot be more proud of Alan and his team and look forward to tZERO continuing to work to become one of the most important companies in the next era of financial markets."
The round brings together shareholders and strategic partners with a shared interest in tZERO's long-term development. Their participation provides a foundation for the company to deepen institutional relationships and pursue opportunities, along with expansion into tokenized and other derivatives, prediction markets, and spot crypto infrastructure-as-a-service with its upcoming CFTC licenses – as well as to bridge to an independent footprint for the company.
tZERO's broker-dealer subsidiaries provide an innovative liquidity platform for private companies and assets, offering institutional-grade solutions for issuers looking to digitize their capital table through blockchain technology and make such equity available for trading on an alternative trading system. The company democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors. All technology services are offered through tZERO Technologies, LLC. For more information, visit the company's website.
tZERO Digital Asset Securities, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. It is the broker-dealer custodian of all digital asset securities offered on tZERO's online brokerage platform. More information about tZERO Digital Asset Securities may be found on FINRA's BrokerCheck.
tZERO Securities, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. It is the operator of the tZERO Securities ATS. More information about tZERO Securities may be found on FINRA's BrokerCheck.
tZERO Transfer Services, LLC is a transfer agent registered with the SEC. More information about tZERO Transfer Services may be found on the SEC's Edgar: https://www.sec.gov/search-filings.
This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security. It does not constitute investment advice, and the information provided may quickly become unreliable. Forward-looking statements involve risks and uncertainties, and actual results may differ materially. tZERO is not obligated to update any forward-looking statements.
