One River Digital Asset Management, a crypto-focused asset manager targeting institutional clients, has secured a Series A investment.
The company announced the raise in a press release on September 21. On the same day that the firm had raised $41 million at a valuation of $186 million from new investors including Goldman Sachs Group and Coinbase.
In a statement, Eric Peters, CEO and CIO of One River Digital, said, “Collaboration and perspective are keys to success in any transformative pursuit.” “We have the good fortune of bringing together a committed group of strategic investors who are clear leaders in their fields and who share our belief that the transition of financial transactions to a digital world will present vast opportunities.”
Late last year, it was revealed that One River Digital was considering a $1 billion investment in bitcoin, backed by billionaire hedge fund manager Alan Howard. The company said in a press release announcing its Series A round that its clients have made over $1.2 billion in gains since it began investing in digital assets in November 2020.
ERISA-compliant digital asset commingled funds, 365-day liquidity funds, and carbon-neutral investment funds are among the firm’s crypto-linked products.
Former Securities and Exchange Commission chair Jay Clayton, along with several other prominent former officials, serves on One River’s Academic and Regulatory Advisory Council.
One River Asset Management, which manages over $2 billion in assets and focuses on absolute-return strategies, has launched a digital assets fund. The company was founded in 2013 and is based in Greenwich, Connecticut.