Billionaire hedge fund supervisor Alan Howard continues backing the cryptocurrency trade with contemporary funding in two digital asset startups.
The co-founder of main asset supervisor Brevan Howard led a $25 million extension fund increase for London-based crypto providers agency Copper.co. The corporate announced Friday that the brand new funding follows a $50 million Collection B funding spherical led by corporations like Daybreak Capital and Goal International.
The extra funding shall be directed to additional strengthen Copper’s experience in enabling conventional monetary companies to learn from blockchain expertise and cryptocurrencies. The agency confused that the extra funding exhibits the rising curiosity in crypto from the standard finance sector.
Scorching on the heels of our Collection B $50m increase, Alan Howard of Brevan Howard has invested $25m in Copper.
This extra funding indicators the rising curiosity and endorsement from the standard finance sector in cryptoassets.
— Copper (@CopperHQ) June 11, 2021
The Copper funding follows one other Howard-backed $12 million fundraise for Asian crypto funding platform Kikitrade announced Thursday. The startup intends to channel the brand new capital to broaden its enterprise and compliance throughout Australia, Hong Kong, Taiwan and Southeast Asia.
Howard has beforehand invested in main crypto companies like European digital asset supervisor CoinShares, blockchain and software program growth firm Block.one, and institutional crypto buying and selling platform Elwood.
Howard additionally owns a 25% stake with One River Digital Asset Administration, a United States-based hedge fund that bought $600 million price of Bitcoin (BTC) and Ether (ETH) final yr. Earlier this yr, Howard led a $25 million funding spherical for Komainu, a digital asset custody providers supplier created by international financial institution Nomura in partnership with crypto pockets agency Ledger and CoinShares.