Acquisition expands VersiFi's digital asset
trading technology to include direct market access and smart order
routing developed by Manifold Capital Partners; company to expand
in UAE
NEW YORK and
ABU DHABI, UAE,
May 23,
2024 /PRNewswire/ -- VersiFi, the digital asset
trading and lending firm, today announced it has acquired Ather
Digital for an undisclosed amount. The deal, which closed in May,
bolsters VersiFi's suite of trading technology to include direct
market access (DMA), algorithmic trading and smart order routing
(SOR).
Ather Digital was spun out of Manifold Capital
Partners ("Manifold"), a systematic quantitative investment firm,
in 2022. Its technology was developed in partnership with Manifold
and other HFT hedge funds specifically to meet their digital assets
trading requirements and will be integrated into VersiFi's trading
and lending platform. Manifold and other leading investors will now
be minority shareholders in VersiFi.
"This acquisition accelerates our product
strategy and gives us a comprehensive suite of trading solutions
earlier than anticipated," said Sameer
Shalaby, founder and co-CEO of VersiFi. "Built with the
needs of quantitative investment managers in mind, Ather's
technology has exceptional performance, efficiency and
interoperability characteristics that can translate into
significant cost savings for clients. We are delighted to welcome
the Ather team to VersiFi and together launch these capabilities to
market."
In addition, Ather Digital's team of developers
and Abu Dhabi office are now part
of VersiFi, and founder and chief technology officer, Sidharth Sankhe, has taken the role of Head of
Quant Trading Technologies as part of VersiFi's executive
leadership team. VersiFi also has plans to grow its presence in the
UAE.
"We are excited to back such a powerful and
proven team. VersiFi is perfectly equipped to turn Ather's vision
into reality," said Jae Chung,
founder and CEO of Manifold Capital Partners. "With so many ways to
collaborate, Manifold will be giving maximal support to VersiFi as
they continue to scale."
"We, alongside Ather's other institutional
investors, are excited to partner with VersiFi's leadership team to
continue our efforts in taking Ather's technology to market," said
Richard Blankenship, Founder &
General Partner of Dream Ventures. "VersiFi's vision is
complementary to Ather's – and ours – and we are confident that
their combined technology and teams will create a highly
differentiated industry offering."
About VersiFi
VersiFi is a digital
asset trading and lending firm that combines a high-tech platform
with high-touch services to help institutions trade and borrow
efficiently. VersiFi's plug-and-trade platform provides a single
point of access for trading, borrowing, and lending, as well as
custody services provided by third-party partners. Led by a team of
proven industry professionals, VersiFi is determined to help
digital assets reach their fullest potential. For more information
visit www.versifi.io.
CONTACT INFORMATION
Jennifer Berlin
Forefront Communications for VersiFi
+44 (0) 7375 288 641
jberlin@forefrontcomms.com
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SOURCE VersiFi