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Alan Howard, a long-time supporter of the cryptocurrency business, has invested in two digital asset firms.
Alan Howard, the billionaire hedge fund manager, has increased his support for the cryptocurrency business by investing in two new digital asset firms.
The co-founder of major asset manager Brevan Howard led a $25-million extension raise for London-based crypto services firm Copper.co. The company announced Friday that the new investment follows a $50-million Series B funding round led by companies such as Dawn Capital and Target Global.
The new funds will be used to expand Copper’s expertise in allowing traditional financial businesses to profit from blockchain technology and cryptocurrencies. The business emphasised that the extra money demonstrates the traditional banking sector’s rising interest in cryptocurrency.
Hot on the heels of our Series B $50m raise, Alan Howard of Brevan Howard has invested $25m in Copper.
This additional funding signals the growing interest and endorsement from the traditional finance sector in cryptoassets.
— Copper (@CopperHQ) June 11, 2021
The Copper investment follows another Howard-backed $12-million fundraise for Asian crypto investment platform Kikitrade announced Thursday. The startup intends to channel the new capital to expand its business and compliance across Australia, Hong Kong, Taiwan and Southeast Asia.
Howard has previously invested in key crypto startups such as CoinShares, a European digital asset management, Block.one, a blockchain and software development business, and Elwood, an institutional crypto trading platform.
Howard also has a 25% investment in One River Digital Asset Management, a US-based hedge fund that bought $600 million in Bitcoin (BTC) and Ether (ETH) last year. Howard led a $25 million fundraising round earlier this year for Komainu, a digital asset custody services provider founded by global bank Nomura in collaboration with crypto wallet startup Ledger and CoinShares.