Advanced Blockchain AG establishes Stockholm office and signs MoU with a leading Swedish tech accelerator
As a part of the organization’s broader endeavors to expand our reach in the Nordics, we have partnered with Swedish tech accelerator, Sting, with our CIO Simon Telian spearheading this partnership and our new office location.
Advanced Blockchain AG is pleased to report upon its continued expansion, in this case into the Nordics. The first component of this expansion is our new office, which has opened in Stockholm, Sweden. The second component is our partnership with Sting, the leading tech accelerator and venture capital firm in this region.
As a result of this partnership, Advanced Blockchain AG will become the largest investment vehicle for the blockchain ecosystem in the Nordics.
Our Overarching Expansion:
Following his appointment as a member of the company's Executive Board earlier this year, Simon Telian will also head the newly established partnership and act as a driving force behind the company’s Nordic expansion plans. Telian has extensive experience in European venture capital and was most recently responsible for the growth of a Swedish deep tech startup.
“This Nordic expansion will strengthen our ecosystem of co-investors and innovators in the blockchain space. At the same time, Advanced Blockchain and its underlying portfolio companies will be able to leverage their businesses through our strong regional network,” says Telian, Managing Director and Group Chief Investment Officer of Advanced Blockchain AG.
What our Partnership with Sting Entails:
Together with Propel Capital, the investment arm of Sting and Sweden’s most active private seed investor, Advanced Blockchain aims to invest as early as possible in newly incubated blockchain projects.
“We are proud to have signed this partnership with Advanced Blockchain AG, which will strengthen the value proposition to startups in the blockchain space in the Nordic region. We see many interesting applications for blockchain technology in several sectors and this partnership will add both competence and capital to these applications”, says Pär Hedberg, founder and CEO of Sting.
Similar to its partnership with SOSV, the ultimate goal for Advanced Blockchain’s collaboration with Sting is to identify strong teams with bold ideas who want to build impactful projects in the Web 3.0 ecosystem. Some major points of focus for this partnership include decentralized finance (DeFi, the digitized future of financial services), non-fungible tokens (NFTs, tokens backed by unique assets that are positioned to be the future of digital ownership), and the tokenization of assets (making assets more accessible to the average investor).
More details of the partnership are set to be announced in the upcoming weeks.
More about Sting:
Stockholm Innovation & Growth (Sting) was founded in 2002 with the vision to become Europe’s most attractive and comprehensive ecosystem for tech startups. In the past two decades, they have clearly accomplished this goal; their Accelerator Program has been named the Best Accelerator in the Nordics and the Main Runway for Startups in Stockholm. Further, to date, Sting has secured over 750 million Euros in private and public financing, making it the most successful and fastest growing incubation firm in the Nordics.
More information can be found at https://sting.co/.
We are pleased to be working with such a venerable organization, and believe that Sting is the ideal partner with which to kick off our new office and endeavors in the Nordics.Further information about Advanced Blockchain AG and its various projects and investments can be found on its website, https://www.advancedblockchain.com/.