Monday 29th March 2021
Holon Global takes stake in the bank of the future
- Holon Global makes a strategic investment in Avanti Financial Group that is setting the direction for future banking
- This innovation investment is the hallmark of Holon Global’s ahead of the curve strategy and its work to pioneer the future of banking in Australia
Sydney, Australia 29 March 2021 – Holon Global has participated in a ‘Series A’ capital raise for Avanti Financial Group, Inc, a Wyoming bank formed to serve as a compliant bridge to the U.S. dollar payments system and a custodian of digital assets. The Wyoming legislation allows the bank to meet the strictest level of institutional custody standards, creating a new, low risk way of banking in the future.
The Series A lead investor Trace Mayer, an early Bitcoin adopter and investor in Bitcoin industry infrastructure, expressed his conviction in the investment as:
“Avanti is extremely well positioned to competently answer questions that most in the industry have not even thought about yet.”
“As Bitcoin and digital asset markets mature and financialization network effects take root, there is a tremendous need for both well crafted laws and experienced, competent operators. When surveying the globe, in my opinion, Wyoming best meets these needs generally, and the Avanti team specifically is among the most potent institutional-quality human capital.”
The same sentiment is shared by Heath Behncke, Managing Director and co-founder of Holon Global Investments. The strategic stake in Avanti seizes a tremendous opportunity to leverage this revolutionary banking system in Australia and across the globe.
“Observers may mistakenly focus on Bitcoin in this story, that is not what should be celebrated. This moment will mark a step change in banking, Avanti are setting the direction for banking in the new world” – Heath Behncke, Managing Director, Holon Global
The Global Financial Crisis (GFC) established a new class of financial institution – the “too-big-to-fail” Bank. The U.S. GFC bailout that offered government backing in the event major institutions became distressed is now a precedent. This is a problem because it distorts how markets price securities issued by this ‘class’ of institutions and leads to the potential misallocation of credit. In return for ‘government-backed guarantees’, Banks have had to adopt increasing compliance complexity, adding disproportionate banking operation overheads which are diminishing the efficiencies of banks and dividends.
“Banking of today is unsustainable. We should be asking ourselves are these government bailouts viable and, in fact, are they bad for the country? We need to pioneer new banking models. Avanti founder, Cailtin Long, together with a stellar team of visionaries have done this. The whole world should be looking in their direction right now.” – Heath Behncke, Managing Director, Holon Global
Holon Global is amongst a mix of high profile, select investors, renown for their investing track record including:
Trace Mayer, Marcel Kasumovich, Rob Kauffman (Aldel Capital), Tim Keefe, Lawrence Lepard, Eric Ly and others. Institutional investors include 1843 Capital, AP Capital, Banca del Ceresio, Binance.US, Coinbase Ventures, ECMC Group, Equity Management Associates, Greybull Stewardship, Hard Yaka, HashKey, Lemniscap, Madison Paige Ventures, Morgan Creek Digital PJT Partners, Slow Ventures, Susquehanna Private Equity Investments and The University of Wyoming Foundation, among others.
The round which closed at $37m USD on the 19 March 2021 in Cheyenne, Wyoming was upsized after being significantly oversubscribed. Use of proceeds are funding Avanti’s required regulatory capital needed for launch, as well as engineering build and other operating expenses.
This principal investment by Holon Global highlights the point of difference for this Fund Manager that takes ‘walking the talk’ seriously. It’s putting its ‘money where its mouth is’ by investing into innovation to lead support for banking change locally.
Holon Global Investments is a next generation fund manager designing the core investment portfolios and platforms of the future. A different wealth creation strategy and a different business model to create and protect wealth is needed at a time when the pace of change is astonishing. We believe innovation drives wealth creation, and everyone should have access to investing in the best companies globally that are driving innovation today, tomorrow and in the future. For more information, visit www.holon.investments