One River Digital raised $41 million during its Series A funding round
According to a report by Bloomberg, crypto-oriented fund One River Digital Asset Management has raised $41 million from banking giant Goldman Sachs, the leading crypto exchange Coinbase, and other investors during its Series A funding round.
One River, which was killed during the pandemic crash due to its volatility-focused strategies, revealed that its crypto branch held $600 million worth of bitcoin in mid-December. Currently, One River Digital also operates another fund that owns Ether. One River Digital is currently worth $186 million.
CEO Eric Peters says the hedge fund is preparing for an ongoing transition to coding:
And in this world, the opportunity is much greater. The question was: How do we benefit from that?
Brevan Howard Asset Management, a $20 billion company and part-owner of One River Digital, set aside 1.5% of the assets of its main fund to buy cryptocurrencies in April.
In March, One River appointed former Securities and Exchange Commission Chairman Jay Clayton as a cryptocurrency advisor.
Prior to taking up his job as the top cop on Wall Street, Clayton worked as an external legal advisor to Goldman Bank.
One from River Asset Management received a subpoena from Ripple Labs, a company that Clayton took to court during the last days of his tenure.