Citi Ventures

Citi Ventures is the corporate venture capital arm of Citigroup that leverages the bank’s resources to identify, incubate, and invest in innovative ideas at the intersection of finance and technology. Headquartered in San Francisco with offices in New York, London, Palo Alto, Tel Aviv, and Singapore, Citi Ventures collaborates with Citi colleagues, clients, and the broader innovation community to discover new value and accelerate the development of transformative technologies. The firm focuses on fintech, data analytics and machine learning, the future of commerce, security and enterprise IT, marketing, property technology, distributed ledger technology, and digital assets, pursuing strategic investments that complement Citi’s business lines and risk management capabilities. Since its founding, Citi Ventures has sought to build partnerships and portfolios that support entrepreneurship and technological progress, helping individuals, businesses, and communities adapt to rapid digital change while expanding Citi’s ecosystem and capabilities.

Avi Arnon

Senior Vice President

Krishna Balachanader

Managing Director

Thompson Barro

Vice President

Matt Carbonara

Managing Director

Alex Chen

Vice President - Venture Investing

Past deals in Commodities

Trans-Oil Group

Debt Financing in 2024
Trans-Oil Group specializes in the production of sunflower oil, serving primarily Chisinau, Moldova. The company operates in oilseed crushing, grain handling and storage, international commodities trading, and offers bottled oil alongside related services.

ofi

Debt Financing in 2024
Olam International Limited is a prominent agri-business established in 1989 and headquartered in Singapore. The company operates across 70 countries, providing a diverse range of agricultural products and industrial raw materials to over 16,200 customers. Olam has built a strong presence in various sectors, including cocoa, coffee, cashew, rice, and cotton, offering 47 different products across multiple platforms. Its business segments include Edible Nuts and Spices, Confectionery and Beverage Ingredients, Food Staples and Packaged Foods, Industrial Raw Materials, Infrastructure and Logistics, and Commodity Financial Services. The company sources, processes, packages, and merchandises products such as cocoa, coffee, edible nuts, grains, sugar, spices, and various raw materials. Employing approximately 62,500 individuals, Olam International has established itself as a leader in the agricultural sector, committed to sustainability and innovation in its operations.

Exponential Markets

Seed Round in 2024
Exponential Markets develops innovative tradable financial instruments for risk management across various asset classes. Its flagship product is the Exponential Used Vehicle Index, enabling hedging of used vehicle price risk for automotive sector participants.

Exponential Markets

Seed Round in 2023
Exponential Markets develops innovative tradable financial instruments for risk management across various asset classes. Its flagship product is the Exponential Used Vehicle Index, enabling hedging of used vehicle price risk for automotive sector participants.

Compañía Minera Raura

Debt Financing in 2022
Compañía Minera Raura S.A. is a mining company based in Peru, focused on the exploration, development, and marketing of polymetallic concentrates, specifically zinc, lead, copper, and silver. Established in 1960 and headquartered in San Borja, the company operates primarily in the San Miguel de Cauri district of Lauricocha Province, Huánuco region. Compañía Minera Raura has a treatment capacity of approximately 2,500 tons per day, with actual production around 1,600 tons of ore daily. In addition to its mining activities, the company also runs a hydroelectric power generation plant in Cashaucro, contributing to its operational infrastructure. As a subsidiary of Inversiones Breca S.A., Compañía Minera Raura plays a significant role in the Peruvian mining sector.

Komgo

Series B in 2021
Komgo operates a blockchain-based platform for digitalizing trade and commodities finance. Incorporated in Switzerland in 2018, it offers secure peer-to-peer transactions, mitigating fraud risk and providing benchmark data.

Komgo

Venture Round in 2020
Komgo operates a blockchain-based platform for digitalizing trade and commodities finance. Incorporated in Switzerland in 2018, it offers secure peer-to-peer transactions, mitigating fraud risk and providing benchmark data.

OilX

Seed Round in 2020
OilX Limited is a London-based startup founded in 2018 that specializes in providing real-time insights into the global oil market. The company designs and develops an analytical platform that combines expertise in the oil sector with data science to integrate oil, satellite, and shipping data. This approach generates hyper-relevant, real-time insights for traders and analysts, enabling them to make informed decisions based on accurate supply-demand balance information. OilX's services include digital oil analytics and solutions, offering a comprehensive view of the oil market through its platform and intelligence tools.

CurveGlobal

Venture Round in 2018
CurveGlobal Markets is the brand name of the London Stock Exchange derivatives market.

K. S. Oils Limited

Post in 2009
Founded in 1985 and headquartered in Morena, India, K. S. Oils Limited operates as an integrated edible oil company, serving millions of customers across India and internationally. It offers a range of products including mustard oil under the Kalash and Double Sher brands, refined oil, vanaspati, and by-products such as de-oiled mustard cakes and soy meals used primarily for cattle feed.

Jai Balaji Industries

Post in 2008
Jai Balaji Industries Limited is an Indian manufacturer of iron and steel products, established in 1999 and headquartered in Kolkata. The company specializes in a range of products, including sponge iron, pig iron, ductile iron pipes, ferro chrome, and various types of steel such as alloy and mild steel billets, TMT bars, wire rods, and ferro alloys. The TMT bars are marketed under the Balaji Shakti brand. While the primary market for Jai Balaji Industries is India, the company also engages in exports to other countries. Its operations are focused on the iron and steel sector, contributing significantly to the manufacturing landscape in India.

Cboe Global Markets

Series B in 2007
Cboe Global Markets is a leading exchange group that provides trading and investment solutions across multiple asset classes and serves investors worldwide. It operates a set of equity exchanges (BZX, BYX, EDGA, EDGX) and two U.S. equity options markets (BZX Options and EDGX Options), and it offers trading, clearing, and related services for equities, derivatives, digital assets, and foreign exchange. The company is one of the world's largest exchange groups and is known for its proprietary S&P 500 and VIX index options, offered through an exclusive arrangement with S&P Global. Cboe expanded into U.S. and European equities through the 2017 acquisition of BATS and has pursued international growth in Canada and Australia. It is the largest option exchange in the US and derives around 60% of its revenue from options trading, with ongoing acquisitions and product expansion to broaden its market reach.
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