Former Centre Consortium, J.P. Morgan, and State Street Executive to Co-Lead New Crypto Investment Fund
NEW YORK–(BUSINESS WIRE)–Intersection Crypto Ventures (“ICV”) the venture investment platform associated with Intersection Growth Partners (“IGP” or “Intersection”), a leading executive search firm focused on crypto and web3, today announced that David Puth has joined as Co-Managing Partner. The firm also announced it will be launching their second fund, ICV II.
David brings three decades of experience overseeing global financial institutions, including as CEO of the Centre Consortium, the body that oversees the USDC stablecoin ($51bn market cap), Executive Committee member at JPMorgan Chase, and Head of Global Markets at State Street. David is currently a Senior Advisor to Circle. In his new role at ICV, David will lead sourcing, evaluation, execution, and management of investment opportunities alongside Co-Managing Partner Scott Fletcher.
ICV has raised $100m to date and primarily invests in the companies for which IGP helps build the leadership teams. The Intersection team began investing capital in its clients in 2019 as a means of deepening alignment and strengthening its partnerships and to date have invested in pioneering projects and protocols including Circle, Anchorage Digital, TRM Labs and Forte, among others. The launch of ICV II will enable the Intersection team to continue to support clients with both financial and human capital, while seeking to give ICV Limited Partners access to sought-after investment opportunities.
“David is a highly respected financial services and crypto leader with a track record of building and managing complex global businesses,” said Fletcher. “His 30 years of operating experience in both TradFi and crypto will be invaluable to both ICV and our portfolio companies. We are thrilled to welcome David to the Intersection team.”
ICV Chief Operating Officer, Catherine Muller, added, “While we believe the investment opportunity in crypto and web3 is immense, access to the best deals remains extremely difficult. IGP recruits leadership teams for many of the most prominent organizations, and, as a result, ICV is viewed as a truly valued-added investor. We have had the privilege of backing and building many visionary teams and look forward to continuing to do so on an even greater scale going forward.”
“Intersection is not only a dominant executive search business in crypto and web3, but also an investor in some of the most exciting companies in the space,” said Puth. “I am thrilled to join the firm and build on this phenomenal foundation and look forward to providing financial and operational support to projects and protocols that are shaping the new economy.”
David Puth Biography
David Puth brings three decades of experience overseeing global financial institutions. In addition to serving as Co-Managing Partner of ICV, he is a Senior Advisor to Circle.
Most recently, David served as Chief Executive Officer of the Centre Consortium, an open-source project founded by Coinbase and Circle to provide governance standards for USD Coin (USDC), where he grew the consortium’s membership to include fintech firms, banks, and other financial services firms and worked with local and global regulators to support the introduction of new digital currencies built on Centre standards. Prior to joining Centre Consortium, David served as Chief Executive Officer of CLS Group, a designated Systemically Important Financial Market Utility and the world’s leading provider of risk management and operational solutions to the global foreign exchange market, supporting over $1.7 trillion in transactions per day. Previously, he served as Head of Global Markets and the senior-most member of the Operating Committee for State Street for over three years, and before that was Head of Currencies Commodities and Emerging Markets and a member of the Executive Committee at JPMorgan Chase for over nineteen years, leading these firms’ FX, interest rate derivatives, commodities, and emerging markets businesses.
David has served in several advisory capacities as well as on the boards of directors of derivatives marketplace CME Group, financial services firm ICAP, technology-based intelligence provider Whitney Strategic Services, and technology-based data security company Kelvin Zero. He is a graduate of Tufts University with Bachelor of Arts degree in Political Science.
About Intersection Crypto Ventures
Intersection Crypto Ventures (ICV) is the venture investment platform associated with Intersection Growth Partners, a leading executive search firm focused on crypto and web3. The Intersection team has been investing in its clients – such as Circle, Anchorage Digital, TRM Labs and Forte – and has raised $100 million to date. ICV is a multi-stage investor across verticals, including gaming, infrastructure, stablecoins, DeFi, and others.
About Intersection Growth Partners
Founded in 2018 by Scott Fletcher, Elizabeth Anderson and Hugh Norton-Smith, Intersection Growth Partners is a boutique executive search firm with a focus on crypto and web3. IGP builds leadership teams on behalf of the most interesting operating companies, protocols and investors in the space.
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Carissa Felger/Sam Cohen
Gasthalter & Co.
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