Evertas, the American crypto asset insurer with an island-based subsidiary licensed by the Bermuda Monetary Authority, has been named Portfolio MVP for 2023 by Bloccelerate VC.

Evertas Insurance Ltd is licensed as a Class 3A insurer.

Bloccelerate VC is a venture capital firm that focuses on investing in early stage blockchain and cryptocurrency start-ups. It provides funding, mentorship and resources to help these start-ups grow and succeed in the rapidly evolving blockchain industry.

“We are beyond excited to have presented the 2023 Bloccelerate MVP Award for Portfolio Growth to J Gdanski and Raymond Zenkich from Evertas,” said Kate (Mitselmakher) Laurence, general partner, Bloccelerate VC.

“This is the fifth consecutive year that Bloccelerate’s awards have recognised the leading portfolio companies for achieving outstanding results. In the past, MVP award winners went on to become prominent unicorns in the Web3 ecosystem.

“We believe Evertas has truly deserved this recognition in 2023. Notwithstanding bear market conditions, J and Raymond managed to grow the business 30 times-plus in revenue and to secure market dominance in the growing digital asset insurance space.”

The company said that Evertas insured seven of the world’s top-ten Bitcoin mining operations and many top custodians of crypto assets globally, while expanding into on-chain DeFi (decentralised finance) and Web3 products and adjacent industries.

Informed by the crypto native insurance expertise of its founders, Mr Gdanski and Mr Zenkich, Evertas said it was committed to helping the crypto industry thrive by mitigating risks.

“We’re pleased and honoured to receive Bloccelerate’s MVP award,” said Mr Gdanski, the chief executive at Evertas. “Our team had an outstanding year by any measure, with revenue growth of 30 times over the previous year, and 2024 will be another great year.”

The company said Bloccelerate’s acknowledgement of Evertas’ leadership was timely validation of the crypto industry’s prospects and the importance of standardising practices to safeguard growth.

Evertas said it was the first crypto insurance company backed by Lloyd’s of London.

It added that the company’s commitment to providing highly rated policies covering crypto mining operations, crypto custodians, crypto exchanges, investment funds, family offices and more, was driven by a desire to codify global crypto industry standards.