Key Takeaways
- • Brassica Technologies closed an $8 million seed round led by Mercury Fund, bringing total capital raised to over $12 million, according to a Business Wire announcement.
- • Brassica Trust Company, a wholly-owned subsidiary, was granted a Trust Charter by the Wyoming State Banking Board.
- • The company is positioning itself as a "one-stop shop" offering API-based custodial, transfer agent, and back-end infrastructure services for alternative assets.
- • Founded in 2021 by CEO Youngro Lee and CTO Bob Dunton, former NextSeed co-founders; Lee also serves as EVP and Head of Asia at Republic.
- • The company plans to use the funding to scale product, engineering, and business development teams and to hire a full-service trust operations team in Wyoming.
Summary
Brassica Technologies Inc., a Houston-based financial infrastructure technology company, announced the closing of an $8 million seed round led by Mercury Fund. Participants included Valor Equity Partners, Long Journey Ventures, NGC Fund, Neowiz, Broadhaven Ventures, Armyn Capital, VC3DAO, Alpha Asset Management, and other global FinTech investors. The round brings the company's total capital raised to over $12 million.
In the same announcement, the company said its wholly-owned subsidiary, Brassica Trust Company, received a Trust Charter from the Wyoming State Banking Board. Brassica describes its model as offering multiple related financial infrastructure services via API, including custodial and transfer agent services designed for alternative assets, integrated with its Wyoming trust company. The company says this allows clients to build on modern backend infrastructure rather than relying on fragmented, manual vendor systems.
Brassica was founded in 2021 by Youngro Lee (CEO) and Bob Dunton (CTO), who previously co-founded NextSeed. NextSeed received the first SEC Funding Portal license and closed the first Regulation Crowdfunding offering in 2016 under Title III of the JOBS Act; it was acquired by Republic in 2020. Lee currently serves as EVP and Head of Asia at Republic. The company's leadership includes executives with prior experience at Republic, Cleary Gottlieb, Kirkland & Ellis, Morgan Stanley, Custodia Bank, LedgerX, Prime Trust, JP Morgan Chase, and M1 Finance.
Lee said that alternative asset infrastructure is often assembled from multiple incompatible vendors, creating operational risk and single points of failure. Mercury Fund Managing Director Blair Garrou said the company's API-forward, institutional-grade solutions make investing in private and digital assets more compliant and secure. The company plans to use the new capital to scale its teams, accelerate new service offerings, and serve customers globally.
In the same announcement, the company said its wholly-owned subsidiary, Brassica Trust Company, received a Trust Charter from the Wyoming State Banking Board. Brassica describes its model as offering multiple related financial infrastructure services via API, including custodial and transfer agent services designed for alternative assets, integrated with its Wyoming trust company. The company says this allows clients to build on modern backend infrastructure rather than relying on fragmented, manual vendor systems.
Brassica was founded in 2021 by Youngro Lee (CEO) and Bob Dunton (CTO), who previously co-founded NextSeed. NextSeed received the first SEC Funding Portal license and closed the first Regulation Crowdfunding offering in 2016 under Title III of the JOBS Act; it was acquired by Republic in 2020. Lee currently serves as EVP and Head of Asia at Republic. The company's leadership includes executives with prior experience at Republic, Cleary Gottlieb, Kirkland & Ellis, Morgan Stanley, Custodia Bank, LedgerX, Prime Trust, JP Morgan Chase, and M1 Finance.
Lee said that alternative asset infrastructure is often assembled from multiple incompatible vendors, creating operational risk and single points of failure. Mercury Fund Managing Director Blair Garrou said the company's API-forward, institutional-grade solutions make investing in private and digital assets more compliant and secure. The company plans to use the new capital to scale its teams, accelerate new service offerings, and serve customers globally.
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