Home News Hedge fund manager Alan Howard invests in two crypto startups

Hedge fund manager Alan Howard invests in two crypto startups


Hedge fund manager Alan Howard supports the custody and trading technology group Copper.co and the cryptocurrency trading app Kikitrade.

Howard invested in Copper.co, a London-based provider of digital asset storage and trading technology, as part of a $ 75 million fundraiser. The deal came after the British billionaire announced an investment in Kikitrade, an Asian cryptocurrency trading app.

According to unofficial information, the British billionaire invested $ 12.5 million in the Copper.co crypto depository as part of the next investment round. Howard invested $ 4 million in the Asian cryptocurrency trading service Kikitrade.

“We are very grateful to Alan for his support. His early interest in this area sets him apart from other traditional players”, said Dmitry Tokarev, CEO of Copper.co.

Howard’s previous investments

This isn’t Howard’s first investment in Copper.co. For example, he participated in the May round of funding, during which the startup raised $ 50 million. Prior to that, the famous British billionaire led a round of funding for another crypto depository – Komainu. The project team then raised $ 25 million. Then, in addition to Howard, Novogratz’s company Galaxy Digital, the NOIA Capital fund and the Nomura Research Institute also invested in the company.

As reported by Bloomberg, Howard invested in the cryptocurrency market back in 2017. But the investment amounts were not disclosed, but he said he wants to continue investing in cryptocurrencies and blockchain technology.

In addition, the British billionaire supported the One River Digital Asset Management fund. Last year, the fund invested up to $ 600 million in cryptocurrencies. At the same time, the head of the fund noted that the fund intends to accumulate up to $ 1 billion in Bitcoin and Ethereum at the beginning of 2021.

In February 2021, Howard also participated in the investment round of the Bitcoin payment service Bottlepay. It raised $ 15.5 million.

And in May, Howard joined other tycoons, including Peter Thiel and Louis Bacon. To invest $ 10 billion in a new cryptocurrency exchange, Block.one. He is also an investor in the Swedish-listed digital asset management company Coinshares.

Cryptocurrency asset supporters

It should be noted that Alan Howard entered the digital currency market as an individual. So, the co-founder of the macro hedge fund Brevan Howard has become one of the most influential European fund managers who have supported digital currencies such as Bitcoin. At the same time, the Brevan Howard fund, which manages $ 9.1 billion, doesn’t yet trade cryptocurrencies.

It is known that Howard has already hired an employee who will help him manage significant investments in cryptocurrencies and plans to expand the staff in the future in order to continue investing in private startups and ICOs. As we can see, cryptocurrency assets have more and more supporters among large financiers. For example, billionaire investor Mike Novogratz launches a cryptocurrency trading bank. And PayPal co-founder Peter Thiel has earned hundreds of millions of dollars from investing in Bitcoin by creating a venture capital fund called Founders. However, Howard has an interest in cryptocurrencies that runs counter to the general sentiment of legendary investors. Such as Jim Rogers, George Soros, Warren Buffett or Jack Bogle. Mike Novogratz once said: “It is difficult for these guys in their 60s to understand that we are entering the digital world”.

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