ER XSpring Fund 1, seeded by XSpring Capital and managed by Elevated Returns, announced it participated in the Series B investment round in tZERO, a financial technology company that provides transformative market-based solutions for companies, entrepreneurs, and retail and institutional investors, to support tZERO’s long-term mission of innovation. Since its founding in 2014, tZERO’s mission has been to democratize access to capital markets by establishing more efficient, accessible, and transparent marketplaces. ER XSpring Fund 1’s investment is a part of tZERO’s strategic funding round led by NYSE parent company Intercontinental Exchange, Inc.
Elevated Returns and tZERO have worked together since 2020 to stimulate the growth and adoption of digital securities. In August 2020, the St. Regis Aspen digitally enhanced security (ASPD) commenced trading on the tZERO ATS, enabling investors to have shares of indirect ownership in the St. Regis Aspen Resort, a five-star, 179-room luxury hotel located in Aspen, Colorado. The issuer of ASPD, Aspen Digital, Inc., is managed by ER-RE, LLC., a subsidiary of Elevated Returns, a New York-based real estate asset management and advisory firm. In addition to its capital investment, Elevated Returns also entered into a Memorandum of Understanding (MOU) with tZERO to collaborate on the growth and adoption of digital assets globally.
As a part of the MOU, Elevated Returns and tZERO are exploring synergies to increase the securities trading on the tZERO ATS by offering investors the ability to invest in financial products within Elevated Returns’ network. The companies are also looking into the possibility of quoting securities on both tZERO ATS and Elevated Return’s regulated securities trading venue in Southeast Asia in an effort to create a compliant and frictionless East-West corridor and enhance global liquidity. With Elevated Returns and tZERO each having pioneered blockchain-enabled securities and…
