Billionaire hedge fund manager Alan Howard continues to support the cryptocurrency industry with new investments in two digital asset startups.
The co-founder of senior asset manager Brevan Howard led a $ 25 million expansion fundraiser for London-based crypto services firm Copper.co. The company said on Friday that the new investment follows a $ 50 million Series B funding round led by companies like Dawn Capital and Target Global.
The additional funding will be intended to further strengthen Copper’s expertise by enabling traditional financial firms to benefit from blockchain technology and cryptocurrencies. The firm pointed out that the additional funding shows the growing interest in crypto from the traditional financial sector.
On the heels of our $ 50 million Series B raise, Brevan Howard’s Alan Howard invested $ 25 million in copper.
This additional funding signals the growing interest and endorsement of the traditional financial sector in cryptoassets.
Full details: https://t.co/HCdp0uJ1wm pic.twitter.com/JzY4zyU17d
– Copper (@CopperHQ) June 11, 2021
The copper investment follows another Howard-backed $ 12 million fundraiser for Asian crypto investment platform Kikitrade announced Thursday. The startup intends to channel the new capital to grow its business and compliance in Australia, Hong Kong, Taiwan and Southeast Asia.
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Howard has previously invested in large crypto companies such as European digital asset manager CoinShares, blockchain and software development company Block.one, and cryptocurrency trading platform Elwood.
Howard also owns a 25% stake in One River Digital Asset Management, a US-based hedge fund that bought $ 600 million worth of Bitcoin (BTC) and Ether (ETH) last year. Earlier this year, Howard led a $ 25 million fundraiser for Komainu, a digital asset custody service provider created by world bank Nomura in partnership with crypto wallet firm Ledger and CoinShares.