One River Digital raises $41M with Coinbase and Goldman Sachs

One River Digital has secured the first ever raise to expand its crypto-focused institutional investments. One River Digital, a cryptocurrency-focused hedge fund offering exposure to Bitcoin (BTC) and Ether (ETH), has closed its first funding round after launching last year.One River Digital president Sebastian Bea confirmed Wednesday that the company had raised $41 million in a Series A financing round from investors, including Goldman Sachs and Coinbase Ventures.Other investors included American diversified global insurer Liberty Mutual Insurance and an alternative investment management firm, Infinity Investment Partners, as One River Digital announced Sept. 21.According to the One River Digital president, the fresh capital will help the company further increase its investment opportunities to support the digital ecosystem.”We will use these funds to accelerate our scale across investments, distribution and operations. These funds will help us better pursue our purpose, which was to help institutions access and spend in the future of finance,” Bea stated. One River Digital was founded by Eric Peters in 2020. The crypto fund is well-known in the cryptocurrency community. It has amassed approximately $600 million in Bitcoin and Ether in late 2021. This was in addition to generating huge gains following a crypto rally in early 2021. One River Digital applied for a carbon-neutral Bitcoin exchange traded fund in May.

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