Alan Howard’s crypto firm, Elwood Technologies, has announced a $70 million Series A investment headed by Goldman Sachs and Dawn Capital.
Fintech companies, asset managers, and other institutional investors use Elwood, a crypto-focused market access and trading platform. It provides a number of services, including API access, execution, reporting, and analytics.
In 2018, Howard founded Elwood. It began by creating indices to provide investors with exposure to blockchain and cryptocurrency. Last June, the company has shifted its focus to software development.
Elwood Technologies was “established to meet the needs of institutions seeking to secure exposure to digital assets,” according to James Stickland, the company’s CEO.
“We have entered a new chapter in Elwood’s journey and continue to expand our capabilities, enabling our institutional clients to provide their users with improved access to digital assets,” he added.
Mathew McDermott, global head of digital assets at Goldman Sachs, said in a statement: “As institutional demand for cryptocurrency rises, we have been actively broadening our market presence and capabilities to cater for client demand.”
The Series A round included Barclays, BlockFi Ventures, Chimera Ventures, CommerzVentures, Digital Currency Group, Flow Traders, and Galaxy Digital Ventures, in addition to lead investors Goldman and Dawn.
The funds will be used to enhance the company’s product line and expand worldwide. Elwood’s largest stakeholder is Howard, the former CEO of the hedge firm Brevan Howard. Howard has been significantly investing in the crypto sector since late 2020, financing hundreds of startups and establishing businesses. Earlier this year, he formed BH Digital, a crypto-focused section of the hedge fund he founded.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
CoinCu News
Goldman Sachs Goldman Sachs
Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…
BTFD Coin is offering a chance to relive the glory days of meme coin investing,…
Explore key takeaways from BlockDAG’s AMA, showcasing strides in scalability, growth of the ecosystem, and…
Discover why Qubetics, Polkadot, and Cosmos are the best cryptos with 1000X potential, offering innovation,…
Explore the best coins to buy in December 2024—Qubetics with its thrilling presale, Polkadot’s interoperability,…
The Crypto Market Outlook 2025 highlights key areas: stablecoin growth, tokenization, crypto ETFs, DeFi innovation,…
This website uses cookies.