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February 10, 2022

CI Financial picks stake in crypto asset trading platform Newton Crypto

CI Financial has acquired a minority stake in Newton Crypto, as part of its investment in the Canadian crypto asset trading platform’s $20m Series B funding round.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

The financial terms and size of the purchased stake were not disclosed.

Newton’s fundraising round, which closed last week, took the firm’s market value to approximately $200m.

The platform enables users to on-ramp and off-ramp fiat, buy and sell a range of crypto assets, and withdraw or deposit crypto assets from any device.

The investment comes as CI seeks to launch crypto trading into its wealth management platforms.

It currently provides a range of cryptocurrency solutions including three ETFs and two mutual funds.

CI president and COO Darie Urbanky said: “This investment in Newton reinforces CI’s commitment to strengthen our leadership position in digital assets in Canada.

“Cryptocurrencies and blockchain are transforming the world of finance and we’re excited to expand access for investors to this growing category.”

Urbanky added: “We made this investment specifically to accelerate the timeline by which we can extend crypto trading capabilities to our wealth management clients.”

Crypto moves by other firms

This week, US-based robo-adviser Betterment marked its entry to the crypto space with the acquisition of cryptocurrency portfolio provider Makara.

Last December, Scalable Capital launched a new offering called Scalable Crypto for investing in cryptocurrencies.

The same month, Ritholtz Wealth Management signed a partnership with WisdomTree to rollout a new crypto index for retail investors.

In October 2020, US Bancorp introduced cryptocurrency custody services for institutional investment managers with private funds in the US and Cayman Islands.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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