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The founder and chief executive at One River Digital said that it’s becoming more evident that asset management will be making a transition to the tokenized niche
Coinbase Global Inc and Goldman Sachs are on the list of some of the investors that One River Digital, a growing cryptocurrency startup, has attracted to raise $41 million in funding. The cryptocurrency fund manager and startup enjoys the full support of Alan Howard.
In a series A funding, where valuation for One River Digital was $186 million, Goldman Sachs and Coinbase Global Inc went on to acquire minority stakes. Other notable firms that participated were Liberty Mutual Group and Infinity Investment Partners, an insurer and a European family office respectively. A co-founder, Howard, at Breven Howard Asset Management was a major provider for the seed funding of One River Digital in 2020.
The founder and chief executive at One River Digital, Eric Peters, was quoted in an interview saying that it’s becoming more evident that asset management will be making a transition to the tokenized niche. He noted that there was a big opportunity in that niche and the only question they needed to ask themselves is how they could capitalize on such a rare opportunity.
Currently, One River Digital is running two funds: one fund holds Bitcoin while the other fund is for Ethereum.
Recently, Eric Peters opened another fund- a third one- which has a wider mandate. The third fund was used to invest in a decentralized computing platform, Solana. The director is planning to roll out two more products, one being an Ethereum staking fund while the other being a cryptocurrency lender meant to earn dollars for investors.
Greenwich, part of One River Digital based in Connecticut, is also developing a new product; an index that will be a digital asset of high quality and capable of matching institutional liquidity standards, decentralized function & ownership, while meeting security standards at the same time. In the crypto niche, most startups either focus on providing solutions for technical challenges, creating tokens or trading but for One River Digital, their main focus is asset management for institutional investors. Services range from endowments, pensions to sovereign wealth funds management.
Vlad Barbalat, an officer at Liberty Mutual Chief Investment was quoted saying that there are both opportunities and challenges presented by the digitization of global finance. He added that his company is excited to partner with One River Digital, a firm that brings deep institutional expertise on board. On the other hand, emails sent to Coinbase and Goldman Sachs remained unanswered, however.
About One River Digital
One River Digital, a firm known to bet on market volatility, was founded by Peters in 2020. The firm grew and went on to become a major Bitcoin and Ethereum investor.and as the value of both tokens surged, the valuation of One River Digital also grew exponentially. Currently, the firm’s three crypto funds approximately have $500 million. At the beginning of the year, One River Digital hired a former SEC chairman, Jay Clayton, to the company’s advisory board. Making investments in the startup position Goldman Sachs, Liberty Mutual and also Coinbase as distributors if not joint developers for One River’s products; crypto products. Peters said that all he’s currently interested in is winning and winning in the right way.