SwapGlobal lands funding from Boekhoorn, W Group and Kenzoll to push past crypto
What's the deal? SwapGlobalDealroom has a profile for this one. Try Dealroom →, a US over-the-counter (OTC) derivatives provider for institutional investors, has raised an undisclosed early-stage round from Dutch investor Marcel BoekhoornDealroom has a profile for this one. Try Dealroom →, W GroupDealroom has a profile for this one. Try Dealroom → founder and president Volodymyr NosovDealroom has a profile for this one. Try Dealroom →, and Amsterdam private equity firm Kenzoll CapitalDealroom has a profile for this one. Try Dealroom →. The capital will fund trading and working capital as the company expands beyond crypto derivatives.
What's the endgame? SwapGlobal runs a platform that gives institutions exposure to pre-IPO shares, non-US equities, compute capacity, and digital assets through OTC derivatives — without holding the underlying assets. It manages and hedges those positions itself on crypto trading platforms, with collateral held by qualified custodians. The first transactions, starting with pre-IPO shares, are still being prepared.
Why now? The round builds on SwapGlobal's existing partnership with Kenzoll, whose digital-asset market-making business and technology now sit inside the company. "The company can set prices for its derivatives and manage the risk on them in one place," said Kenzoll founder Corné Melissen.
The hire: Alongside the funding, Fedja Terzic joined as chief risk officer. A certified actuary and financial risk manager, he spent six years at Flow Traders, rising to global head of risk and middle office, then served as chief operating officer and chief risk officer at One Trading, Europe's first MiFID-regulated crypto derivatives exchange. The appointment signals SwapGlobal's intent to take on more institutional contracts.
What could go wrong? The round's size and terms are undisclosed, making its scale hard to judge. OTC derivatives are not the same as owning shares directly and carry distinct counterparty, pricing, and liquidity risks — a reason the company is leaning on new risk leadership as it courts institutional clients.
The signal: The deal reflects growing institutional demand for private-market access and a crypto industry moving toward regulated, custodial infrastructure. "Digital assets are moving from the edges of finance into the mainstream, and institutional capital needs infrastructure it can trust," said Nosov. SwapGlobal is betting a US-compliant structure can carry that demand into pre-IPO shares and compute.
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