Three of the portfolio firms that were invested in by the Seismic Foundry Capital Markets FinTech fund have joined the SEI supported incubator, Codify, based in their Alphabeta building in Finsbury Square, London.
Kite Edge, Lodestar-Ecosystems and Waymark Tech joined the incubator this week for a 16-week period, while Enforcd have already benefitted from the programme last year.
“SEI Codify is a pragmatic, B2B focused Capital Markets incubator where we mentor FinTech start-ups, work with them on our internal regulatory projects and service delivery requirements and introduce them to relevant potential clients within our broad distribution network, without taking an equity stake in the start-ups. We are pleased to be working with Seismic Foundry, who provide angel and venture investment experience and scouting services, whose portfolio of companies sets the foundation for a mutually beneficial relationship,” said Ahsan Mallick, General Counsel SEI UK, and executive sponsor to Codify, the SEI Incubator.
Brendan Bradley, a Co-founder of Seismic Foundry, commented, “We are delighted to be working with SEI to foster the growth of our FinTech firms and learning new ways to integrate next-generation technology. In addition, SEI are committed to helping our portfolio companies develop their pipeline amongst their client network, therefore Seismic and SEI are aligned in developing the type of firms that can support the continued growth of financial services in London. Moreover, housing our portfolio companies in one space allows them to interact and learn from each other as well as other firms in the incubator.”