Goldman, Coinbase Back Crypto Fund Manager One River Digital

Bloomberg2021-09-22

(Bloomberg) --One River Digital Asset Management, a startup cryptocurrency-fund manager backed by Alan Howard, raised $41 million from new investors including Goldman Sachs Group Inc. and Coinbase ...

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Comments

hellodarz888
2021-09-22
hellodarz888
Exciting times
LongZR
2021-09-22
LongZR
Nice
- LongZR:
  nice
- TK63:
  nice
DansonYong
2021-09-22
DansonYong
Ok
- WKB:
  Good for crypto

Leave a comment

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Liberty Mutual Group Inc., the insurer, and Infinity Investment Partners, a European family office, also participated. Howard, the co-founder of Breven Howard Asset Management, provided seed funding for One River Digital last year.\n“What’s clear is that asset management is going to make the transition to the tokenized world,” Eric Peters, One River Digital’s founder and chief executive officer, said in an interview. “And in that world, the opportunity is so much bigger. The question was: How do we capitalize on that?”\nToday, One River Digital manages two main funds, one that holds Bitcoin and another that holds Ethereum. Peters recently opened a third fund with a wider mandate and used it to invest in Solana, a decentralized computing platform with its own token. He’s planing at least two more products: An Ethereum-staking fund and a crypto-lending vehicle that’ll generate income in dollars.\nGreenwich, Connecticut-based One River Digital also is developing an index that’ll include only the digital assets that meet institutional standards for liquidity, security and decentralized ownership and function.\nThe funding round was a rare opportunity in crypto. Most startups in the industry focus on solving technical problems or are involved in token creation or trading. One River Digital is concerned only with managing assets for institutional investors such as pensions, endowments and sovereign-wealth funds.\n“The potential for rapid digitization of global finance presents both challenges and opportunities for investment organizations,” Liberty Mutual Chief Investment Officer Vlad Barbalat said in a statement. “We are excited to partner with the One River team, which brings deep institutional expertise.”\nGoldman and Coinbase declined to comment. 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