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Prometheus alts raises USD5m in seed funding

Prometheus Alternative Investments has raised USD5 million in an oversubscribed seed round.

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 says: “As we grow this community and I talk to more and more investors and colleagues, I’ve come to realise that Prometheus isn’t just about democratising 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.”

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