NEW YORK, Sept. 14, 2022 /PRNewswire/ — Diamond Normal Co., developer of the world’s solely regulator-approved diamond commodities, right now introduced the closing of a $30 million funding spherical co-led by Left Lane Capital and Horizon Kinetics. Extra members within the spherical, designed to broaden manufacturing capability and speed up distribution of the world’s solely regulator- accredited diamond commodities, embrace Gaingels and Republic.co.

The increase comes on the heels of the profitable launch of the Diamond Normal Fund, enabling buyers to allocate to a brand new asset class – diamonds – by means of handy shares, moderately than holding bodily diamonds straight. In September 2021, the agency introduced a brand new headquarters on Fifth Avenue, overlooking the New York diamond district and conveniently positioned close to the Gemological Institute of America (GIA). Final 12 months it additionally introduced agreements to develop diamond futures provided by MGEX^™ through the CME Globex^® platform, and choices through MIAX^™.

By positioning diamonds as a market-traded commodity, Diamond Normal unlocks a pure useful resource presently price $1.2 trillion – greater than all of the world’s silver and platinum mixed. With the latest launch of the Diamond Normal Bar and Diamond Normal Fund, further manufacturing capability is required to satisfy quickly rising investor demand. The agency is hiring aggressively, and constructing a brand new Bar meeting facility in collaboration with the Worldwide Gemological Institute. The agency’s diamonds are graded by the GIA and Worldwide Gemological Institute, and firm operations are internally audited by Deloitte.

“Following 20% returns final 12 months, the Diamond Normal Coin has continued to generate a optimistic return this 12 months, whereas the S&P 500 is down 14% and bitcoin is down 50%. Traders want a brand new uncorrelated asset class, and this capital will allow us to extend capability and broaden our choices,” mentioned Cormac Kinney, Founder and CEO of Diamond Normal.

“The Diamond Normal choices are an ideal match for the contrarian, innovation, worth and inflation safety targets of Horizon Kinetics and like-minded buyers,” mentioned Murray Stahl, Co-Founder & CEO of Horizon Kinetics.

“Whereas many buyers and startups over-indexed in the direction of digital-backed belongings, we bought excited by real-asset backed shops of long-term worth. Traders have sometimes held about 20% of market worth for a given commodity. Diamonds have withstood the take a look at of time, and due to Diamond Normal, buyers lastly have entry to the asset class in a handy, secure and trusted method,” mentioned Jason Fiedler, Managing Accomplice of Left Lane Capital.

Left Lane Capital has made investments into a number of the most promising web and shopper know-how firms in 4 continents. The agency targets companies at key progress inflection factors and leads offers on the Sequence A to C stage.

About Diamond Normal Co.

Diamond Normal Co. is the creator of the world’s solely regulator-approved diamond commodities. By unlocking diamonds as a market-traded asset, Diamond Normal helps buyers to entry a pure useful resource presently price $1.2 trillion – greater than all of the world’s silver and platinum mixed. A breakthrough exhausting asset that may be transacted as a blockchain token, the diamond commodity offers diversification, potential inflation safety, and a brand new retailer of wealth for institutional and particular person buyers, whereas bringing transparency and effectivity to the diamond provide chain. To speculate brilliantly, go to www.diamondstandard.co

About Left Lane Capital

Left Lane Capital is a New York-based international enterprise capital agency investing in high-growth web and shopper know-how firms. Left Lane’s mission is to associate with extraordinary entrepreneurs creating category-defining companies elementary to the human situation and spirit. Earlier investments embrace GoStudent, Masterworks, M1 Finance, Tovala, FightCamp, Wayflyer, Clean Avenue, and extra. For extra data, please go to www.leftlanecap.com.

SOURCE Diamond Normal Co.