Index Industries raises $50 million seed round to tokenize US housing market
Real estate tokenization startup Index Industries has emerged from stealth with $50 million in seed funding led by Lightspeed as it prepares to launch a tokenized home price index on Ethereum.
Real estate tokenization startup Index Industries has emerged from stealth after securing a $50 million seed round led by venture firm Lightspeed. The round drew additional backing from crypto and venture firms including Polychain, Galaxy Ventures, and Wintermute Ventures, according to reports by The Block and journalist Jacquelyn Melinek.[1][2][3]
Index Industries was co-founded by former Polychain President Josh Rosenthal and Brian Hardecker, who is identified as a former Blackstone principal by The Block and as CEO of residential real estate platform Longmark by Melinek. The startup is targeting the estimated $55 trillion U.S. residential property sector, where investors have historically lacked simple and liquid mechanisms to gain exposure to home values nationwide.[2][3]
The company's debut offering is USHP, a tokenized product designed to track a daily index of U.S. home prices. Rosenthal stated that indexing reduces the expertise and cost barriers required to invest across an entire market. According to reporting from The Block, USHP has already secured up to $100 million in pre-launch institutional commitments and is scheduled to launch on Ethereum this quarter for eligible institutional and non-U.S. investors.[2][3]
Key facts
- Index Industries emerged from stealth with a $50 million seed round led by Lightspeed.
- Polychain, Galaxy Ventures, and Wintermute Ventures participated in the seed funding round.
- The startup was co-founded by former Polychain President Josh Rosenthal and Brian Hardecker.
- The Block identified Hardecker as a former Blackstone principal, while Jacquelyn Melinek noted he is CEO of Longmark, a residential real estate platform with $2 billion in assets under management.
- Index Industries' first product, USHP, is a tokenized asset designed to track a daily U.S. home price index.
- USHP has secured up to $100 million in pre-launch institutional commitments, according to The Block.
- USHP is scheduled to launch on Ethereum this quarter for eligible institutional and non-U.S. investors.
Sources · 3 sources
- TS
The SaaS News@TheSaaSNewsPost on X ·
Index Industries Raises $50M Seed #RealEstate #FinancialInfrastructure #Tokenization #RealEstateTech #FinTech #SeedFunding #IndexIndustries https://t.co/d6TXzOFonk
Open source - JM
Jacquelyn Melinek@jacqmelinekPost on X ·
Former Polychain President @JReedRosenthal just came out of stealth with @Index_inds and a $50M seed round The startup was co-founded by Rosenthal alongside Brian Hardecker, CEO of Longmark, a residential real estate platform with $2 billion in AUM. The raise was led by @lightspeedvp with participation from @polychain, @galaxyhq and @wmt_ventures. US housing is worth an estimated $55 trillion, but there hasn't been a simple way for investors to get liquid exposure to home prices as a whole. USHP plans to change that by opening to eligible institutional and non-US investors, starting on Ethereum with up to $100M in pre-launch commitments, according to The Block reporting. Rosenthal said indexing "reduces the expertise and cost barriers to investing in an entire market, which is what U.S. housing needs." Index’s first product is @USHP_Official, a tokenized product that tracks a daily US home price index. It is expected to launch this quarter.
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Real estate tokenization startup Index Industries has emerged from stealth with a $50 million seed round led by Lightspeed, with participation from Polychain, Galaxy Ventures, Wintermute Ventures, and others. Founded by former Polychain President Josh Rosenthal and former Blackstone principal Brian Hardecker, the startup is developing the technology behind USHP, a tokenized product that tracks U.S. home prices. USHP has received up to $100 million in pre-launch institutional commitments and is expected to launch on Ethereum this quarter for eligible institutional and non-U.S. investors.
Open source