Poulsbo-based blockchain startup Alphaledger has raised $5.1 million, according to an April 26 filing with the Securities and Exchange Commission.
The filing notes that the funding was an equity raise. A LinkedIn message to Alphaledger co-founder and CEO Manish Dutta and a phone call to the number listed on the company's LinkedIn page both weren't immediately returned.
Alphaledger was founded in 2019, according to the company's LinkedIn page. The filing and Alphaledger's LinkedIn page both list the company's headquarters as Poulsbo, but the company's website lists a Los Angeles address.
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Alphaledger makes blockchain technology to record transactions and other events in the trading of fixed-income assets, such as bonds. The company says this distributed ledger technology is an upgrade over current digital means that capture transactions, as each participant has its own system of record that needs to be reconciled with others' systems of records. With Alphaledger, participants have a shared record and don't need to reconcile.
Prior to co-founding Alphaledger, Dutta spent more than 19 years at the fixed-income investment firm Pimco, according to his LinkedIn page, where his most recent role was senior vice president of technology. Tammie Arnold, a founding partner at Alphaledger, also spent more than 19 years at Pimco, where she was a managing director, her LinkedIn page notes.
The filing lists Jonathan Bresler as a director at Alphaledger. Bresler is a managing partner at EJF Ventures, a venture capital firm that focuses on fintech and blockchain companies. EJF has also invested in Mercer Island-based PortX, which raised $16.5 million in September. PortX connects data from banks and credit unions to apps.
EJF has also invested in the financial wellness platform Kashable and the artificial intelligence company DeepSee.
