Hedge fund manager Alan Howard invests in two crypto startups

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 increase for London-based crypto providers agency Copper.co. The corporate introduced Friday that the brand new funding follows a $50-million Sequence B funding spherical led by firms akin to Daybreak Capital and Goal International.

The extra funding can be directed to additional strengthen Copper’s experience in enabling conventional monetary corporations to profit from blockchain expertise and cryptocurrencies. The agency confused that the extra funding exhibits the rising curiosity in crypto from the normal finance sector.

Scorching on the heels of our Sequence B $50m increase, Alan Howard of Brevan Howard has invested $25m in Copper.

This extra funding alerts the rising curiosity and endorsement from the normal finance sector in cryptoassets.

Full particulars: https://t.co/HCdp0uJ1wm pic.twitter.com/JzY4zyU17d

— Copper (@CopperHQ) June 11, 2021

The Copper funding follows one other Howard-backed $12-million fundraise for Asian crypto funding platform Kikitrade introduced Thursday. The startup intends to channel the brand new capital to increase its enterprise and compliance throughout Australia, Hong Kong, Taiwan and Southeast Asia.

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Howard has beforehand invested in main crypto corporations, akin to European digital asset supervisor CoinShares, blockchain and software program improvement 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.