Hedge fund veteran Alan Howard leads $25 million Series A for crypto custodian Komainu
Nomura-backed institutional crypto custodian Komainu has raised $25 million in Series A funding.
The round was led by hedge fund veteran Alan Howard, who also owns crypto-asset manager Elwood Asset Management. Additional participants in the round included Galaxy Digital, NOIA Capital, and Nomura Research Institute.
Established in 2018, Komainu is a joint venture between three firms: Nomura, Ledger, and CoinShares. All three firms also contributed to Series A.
With fresh capital at hand, Saint Helier, Jersey-based Komainu plans to expand globally, support additional assets, and provide services to prime brokerages.
Komainu was launched in June 2020 and currently holds over $3 billion in assets under custody on behalf of institutional investors, including asset managers, corporations, and government agencies.
The Series A comes amid a rally in bitcoin’s price as more institutions are investing in the world’s first and largest cryptocurrency. Bitcoin is currently trading at around $54,200, according to TradingView.
Hedge fund manager Howard appears to be on a crypto-investing spree. The British billionaire has recently backed several startups in the space, including One River Digital Asset Management and bitcoin payments app Bottlepay.
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Yogita Khatri
