Receipts Depositary Corporation (RDC), a depositary focused on issuing depositary receipts (DRs) for digital and alternative assets, announced the closing of an oversubscribed $7 million funding round led by LiveOak Ventures.
Strategic investors participating in the financing included Hivemind Capital, Onigiri Capital, OTC Markets Group, GTS, and Redbeard Ventures.
The company plans to use the proceeds to launch new depositary receipt products, expand its distribution capabilities, invest in capital markets infrastructure, and add talent across product, operations, technology, and commercial functions.
RDC provides the issuer services, operational infrastructure, and market connectivity needed to bring DR products to U.S. investors across multiple asset classes. Founded by a team with more than a decade of experience in the depositary receipt business, the company aims to provide regulated, securities market-eligible instruments that connect asset issuers and intermediaries with U.S. capital markets.
The company said it is actively hiring as it prepares for upcoming product launches and seeks professionals with expertise in capital markets and financial infrastructure.
KEY QUOTES:
“This funding round is a strong validation of what we’re building at RDC and the growing demand for modernized Depositary Receipt infrastructure. With the support of LiveOak Ventures and our investor partners, we are accelerating development across our DR platform, expanding our market reach, and building the team needed to support the next generation of DR products.”
Ankit Mehta, Chief Executive Officer of Receipts Depositary Corporation
“Depositary Receipts are trusted, regulated capital markets products which RDC is bringing to an entirely new universe of assets, from commodities to digital assets, that have historically been out of reach of traditional securities markets. The team’s depth of experience in the DR business on a global scale, combined with the broad institutional validation from co-investors, anchor customers, and strategic partners across asset classes, makes RDC uniquely positioned to define this category. We’re proud to lead this round and support the company as it scales.”
Krishna Srinivasan, Founding Partner at LiveOak Ventures
