Alan Howard Makes New Investments in Crypto Startups

Billionaire hedge fund manager Alan Howard has continued his crypto-marketing spree despite the slump in crypto prices, with new investments in two digital asset start-ups.

Howard put money behind, a London-based digital asset and trading technology insurer, as part of a $75 million fundraising. The deal comes after the British billionaire on Thursday announced a $4 million investment in Kikitrade, a cryptocurrency trading app in Asia.

Macro hedge fund co-founder Brevan Howard has emerged as one of the best European fund managers to throw his weight behind digital currencies like Bitcoin. Volatile digital currencies have gained a following among financial institutions and retailers with price increases this year, before giving up much of those price gains in recent weeks.

“We are very grateful for Alan’s support. Cooper CEO Dmitry Tokarev said his early commitment to the space set him apart from other traditional players.

Howard led a $25 million extension in the Cooper B Series fundraising series, which took in $50 million in May. Sources familiar with the deal said Howard contributed at least $12.5 million, with the rest coming from existing investors. His investment in Kikitrade also came shortly after the company closed for a fundraising round.

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While many asset managers have expressed concerns about crypto extreme fluctuationsThe double trades show that Howard’s enthusiasm for cryptocurrency has not waned as the frenzy has exhausted the cryptocurrency markets.

A longtime supporter of cryptocurrencies, Howard owns the Elwood crypto markets business. Howard gave up his daily running Brevan Howard in 2019, although the company has since transferred a small portion of its funds to cryptocurrencies.

Howard joined fellow emperors including Peter Thiel and Louis Bacon in May to put $10 billion behind a new car cryptocurrency asset exchange, Blog. One. He is also an investor in Swedish-listed digital asset management firm Coinshares, and cryptocurrency custodian Komainu, backed by Japan’s Nomura Bank.

Allen Ng, co-founder of Kikitrade, which has raised a total of $12 million, said Howard’s support “gives us a great deal of confidence to continuously innovate and drive mass adoption of digital assets.”

Founded in 2018, The Copper Company provides cryptocurrency custody and trading technology services to traditional asset managers and companies looking to transact in digital assets. Elwood CEO James Stickland said the startup will work with Howard’s Elwood after fundraising to work on “cryptocurrency trading technology and key services that serve institutional investors.”

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