Unlimited, a New York-based new investment firm, raised $8M in Series A funding.
The round was led by FirstMark and Citi Ventures, including previously unannounced convertible notes led by Material. As part of the transition FirstMark Managing Director Adam Nelson and Citi Ventures Managing Director Luis Valdich will join Unlimited’s current Board of Directors.
The company intends to use the funds to continue developing and launching new alternative strategy-tracking ETFs that use proprietary return replication technology to track global macro, long-short equity, and lower beta strategies, as well as to build out its sales and distribution teams as part of its next phase of growth.
Founded in 2022 by Bob Elliott, Bruce McNevin and Matt Salzberg, Unlimited is an investment firm that uses proprietary technology to create accessible, low-cost index tracking ETFs for 2 & 20-style alternative investments like hedge funds.
The firm launched its first investment product, the Unlimited HFND Multi-Strategy Return Tracker ETF (NYSE: “HFND”), in the fall of 2022. HFND uses its proprietary technology to seek to replicate the risk/return profile of the gross-of- fees returns of the hedge fund industry.
FinSMEs
23/05/2023