Algorand and BridgeTower Capital Announce Strategic Partnership
15.4.2021 23:14:00 EEST | Business Wire | Press release
BridgeTower Capital, a global private equity firm, focusing on traditional private equity investments and blockchain and DeFi markets, announced today a partnership with Algorand. Algorand, the creator of the world’s first pure proof-of-stake foundational blockchain, is a leading blockchain technology company accelerating the convergence of decentralized and traditional finance.
BridgeTower will use Algorand’s technology as the underlying blockchain solution to issuance of the BridgeTower Capital tokenized digital security. It will also use Algorand as a preferred blockchain for BridgeTower products and services. Beyond the elementary requirement of an open, public network, Algorand’s technology enables a set of high performing Layer-1 blockchains that provide security, scalability, complete transaction finality, built in privacy, Co-Chains, and advanced smart contracts.
“Algorand was a clear choice given their technology, team and leadership position in the digital marketplace,” said BridgeTower Chief Executive Officer Cory Pugh. “It is another important piece falling into place our effort to bring a new-world vision to private equity to maximizing the growing opportunities in blockchain and DeFi in private equity. It’s gratifying to see it coming together and to now see others enthusiastically validating the vision.”
BridgeTower is bringing a traditional operational business approach to its decentralized finance business by building recurring revenue and EBITDA growth as well as providing funding to growth companies with to create increased valuations. BridgeTower’s current blockchain staking product has grown substantially to more than $60 million assets under delegation within two months of launch. BridgeTower will aggressively add self-hosted Nodes over the coming months. “Algorand’s partnership with BridgeTower is based on our aligned vision to provide access to decentralized assets and products as well as a shared focus to expand opportunities in financial services through advanced blockchain technology,” said David Markley, Business Solutions at Algorand. “We are excited BridgeTower will be leveraging Algorand to allow investors to become shareholders in their tokenized private equity firm and admire their leadership in tokenized security offerings.”
Today, nearly 1 million transactions per day are posted on Algorand’s blockchain. In addition, over 4.5 million assets have been issued on chain and more than 500 companies are currently developing applications on Algorand, taking advantage of the unique layer-1 smart contracts and the other functionalities enriching the platform.
This past month BridgeTower also announced it has formed a Zurich-based entity to further expand its current products and partnerships.
ABOUT BRIDGETOWER CAPITAL – BridgeTower Capital is a global tokenized Private Equity firm with a traditional operational business mentality of building strong revenue and EBITDA growth. BridgeTower shareholders have access to opportunities in decentralized finance (DeFi) built on blockchain technology. In addition, BridgeTower’s private equity investments in early to mid-stage growth companies provides financial, operational, talent acquisition and marketing support. For more information, visit https://www.bridgetowercapital.com/
ABOUT ALGORAND – Algorand is building the technology to power the Future of Finance (FutureFi), the convergence of traditional and decentralized models into a unified system that is inclusive, frictionless, and secure. Founded by Turing Award-winning cryptographer Silvio Micali, Algorand developed a blockchain infrastructure that offers the interoperability and capacity to handle the volume of transactions needed for decentralized finance (DeFi), financial institutions, and governments to smoothly transition into FutureFi. The technology of choice for more than 500 global organizations, Algorand is enabling the simple creation of next-generation financial products, protocols and exchange of value. For more information, visit www.algorand.com
Disclaimer
This is not an offer to sale or purchase securities in BridgeTower. Any securities offered by BridgeTower are offered pursuant to a Confidential Private Placement Memorandum to accredited investors only in accordance with an exemption from registration provided by Rule 506(c) of Regulation D of the Securities Act. BridgeTower is not under any obligation to make an offering. Any indications of interest in BridgeTower involves no obligation or commitment of any kind. Past performance is not indicative of future success. Statements about the expected timing, and all other statements in this press release, other than historical facts, constitute forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date hereof and are based on current expectation and involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those projected. A number of the matters discussed herein that are not historical or current facts deal with potential future circumstances and developments that may or may not materialize. This press release speaks only as of its date, and except as required by law, we disclaim any duty to update.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210415006043/en/
Contact information
BridgeTower Contact:
Todd Wolfenbarger / todd@summitslc.com
Chairman and CEO:
Cory Pugh / cory@bridgetowercapital.com
Algorand Contact:
Keli Callaghan / keli@algorand.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Takeda’s Zasocitinib Demonstrates Consistent, High Rates of Skin Clearance Across the Body, Including Hard-to-Treat and High-Impact Sites, in Phase 3 Psoriasis Studies17.7.2026 01:00:00 EEST | Press release
Takeda (TSE:4502/NYSE:TAK) announced new data from the two pivotal Phase 3 studies of zasocitinib (TAK-279), a next-generation, highly selective and potent oral tyrosine kinase 2 (TYK2) inhibitor, in adults with moderate-to-severe plaque psoriasis (PsO).1 Presented at the 2026 American Academy of Dermatology (AAD) Innovation Academy, these secondary endpoint data show that zasocitinib demonstrated consistent and high rates of skin clearance across hard-to-treat, high-impact sites, including the scalp, nails, palms and soles, compared with placebo.1-5 These data build on the topline results from the Phase 3 randomized, multicenter, double-blind, placebo- and active comparator-controlled LATITUDE PsO 3001 and 3002 studies.2,6 In those studies, about 70% of patients treated with zasocitinib achieved static Physician Global Assessment (sPGA) 0/1 (clear or almost clear skin) at week 16, with a significantly greater Psoriasis Area and Severity Index (PASI) 75 response rate seen as early as w
Merz Completes Inaugural €450 Million Schuldschein Loan Issuance17.7.2026 00:36:00 EEST | Press release
The Merz Group has successfully completed its first-ever Schuldschein loan issuance, placing a total volume of €450 million in the debt capital market – a multiple of three relating to the launch volume. The debut transaction was significantly oversubscribed and attracted strong interest from all investor groups. The proceeds were settled and paid out today. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260716926041/en/ Dr. Almuth Steinkühler, Chief Financial Officer Merz Group The transaction comprises both fixed- and floating-rate tranches with maturities of three, five, seven, and ten years. Around 50 German and international investors participated, representing a broad range of institutions, including private banks, German federal state-owned banks, public savings banks, cooperative banks, pension funds and occupational pension institutions. With the successful placement, Merz has further diversified its funding base by
The Estée Lauder Companies Appoints Madeleine Boyd as Senior Vice President, Global Brand Communications16.7.2026 23:22:00 EEST | Press release
The Estée Lauder Companies Inc. (NYSE: EL) today announced the appointment of Madeleine Boyd as Senior Vice President, Global Brand Communications, effective July 20, 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260716738393/en/ Photo by Esteban La Tessa As part of the company’s continued efforts to strengthen how its brands better connect with consumers, Ms. Boyd will establish and lead a newly integrated Global Brand Communications team. In this role, she will ensure the company’s diverse portfolio is anchored by a cohesive enterprise communications strategy, while accelerating bold, consumer-first storytelling that drives earned media, cultural relevance, and brand desirability. She will also strengthen creator engagement, helping the company’s brands gain attention where culture is being shaped. Ms. Boyd brings extensive experience spanning brand strategy, communications, consumer engagement, and cultural insight
Grid Dynamics Enters Strategic Partnership with Doosan Robotics to Accelerate Physical AI Adoption Across Manufacturing and Logistics16.7.2026 23:05:00 EEST | Press release
Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) (Grid Dynamics), a premier AI transformation partner for the Fortune 1000, announced today it has entered into a strategic partnership with Doosan Robotics, a global leader in collaborative robot solutions, delivering cutting-edge AI robotics to 45 countries worldwide. Grid Dynamics offers Doosan cobot users a GAIN Platform for Physical AI, which enables rapid creation of advanced robotic manipulation workflows, deployment of the latest physical AI models, and optimization and monitoring of robotic lines using digital twins. The GAIN Platform for Physical AI and corresponding integration services enable industrial users to solve advanced robotic automation use cases such as processing and inspection of complex-geometry objects, assembly with variability, and packaging of unseens and deformable items, which are not tractable for traditional robotics software. The partnership aims to accelerate the joint go-to-market strategy for the integrated
NetApp Acquires DataPelago, Making Data AI-Ready at the Infrastructure Layer16.7.2026 19:30:00 EEST | Press release
NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced it has acquired DataPelago, a California-based AI data infrastructure company recognized for its innovative approach to eliminating data processing bottlenecks for AI and analytics workloads. The acquisition marks a foundational expansion of NetApp's portfolio, enabling GPU-accelerated data processing aligned directly with the storage layer. With this acquisition, NetApp establishes itself as the company that makes zero-copy activation of enterprise data for AI real. AI is the defining platform shift of our era, but enterprises are discovering that their greatest bottleneck is preparing, governing, and activating their data fast enough to put AI into production. The key to accomplishing this objective is to enable accelerated computing where the data is created and stored. DataPelago solves this challenge by fundamentally reimagining where accelerated compute happens: at the data layer, not above it. "
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom