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Crypto-focused asset manager Old Street Digital secures new investment

Old Street Digital (OSD), a crypto-based asset management startup, has obtained $2.8m investment in a Seed funding round.

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2021 was a record-breaking year, with more businesses breaking into the billion-dollar club. Many start-ups have achieved or retained the unicorn status by the end of the year to reflect nearly a fivefold growth from that in 2020. This boom can be linked to a financing frenzy spurred by the quick adoption of technology and innovative solutions by start-ups gaining traction in response to the pandemic. However, the start-up ecosystem is now facing turbulent times for fundraising as investors seek long-term business strategies, valuations, and a route to profitability amid uncertain market circumstances. Nevertheless, 2022 has the potential to carry forward the momentum with multiple entities having a fair chance of being in the right place when aided by the right technologies. GlobalData leverages the power of alternative data to examine the health of start-ups across multiple dimensions including the quality of their innovations, market presence, and the funding they can attract. This helps our clients to analyze the disruptive potential of start-ups for early alliances, investments, and acquisition prospects to develop future-proof strategic roadmaps for a competitive advantage. Read our report and gather insights on the following topics:
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Start-up ecosystem outlook by top geographies
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The round was led by venture capital company Draper Associates and saw participation of Plassa Capital as well as other venture capital and angel investors throughout Europe, Asia and the US.

In addition, senior executives from UK Asset Management industry took part in the round.

OSD plans to use the new capital to develop various crypto funds for professional investors.

Old Street Digital CEO Paul Ridley said: “There is enormous opportunity for institutional investors in digital assets but they need a credible product offering from experienced professionals they can trust. 

“We’re building a crypto asset manager to fill this gap with a range of actively-managed funds in an accessible fund structure.”

The company rolled out its firs fund this quarter and aims to open a new fund in the fourth quarter.

OSD noted that its CIO Gary Clarke is a ‘leading’ equity portfolio manager in Europe with 27 years of experience.

Earlier, Clarke was associated with major fund managing firms including Blackrock, Schroders and J.P. Morgan Asset Management.

Old Street Digital chief operations officer Nic Basson said: “In any new and complex asset class, top-tier technology, security and systems are key.

“Delivering crypto asset exposure in a familiar fund structure is not without its challenges but the platform we are building offers an institutional-grade option for professional investors.”

Founded by Paul Ridley, Gary Clarke and Nic Basson, OSD is involved in the development of an entity, which unites traditional asset management with crypto asset class, for the institutional investors.

Free Whitepaper
img

Disruptive start-ups to watch out for

2021 was a record-breaking year, with more businesses breaking into the billion-dollar club. Many start-ups have achieved or retained the unicorn status by the end of the year to reflect nearly a fivefold growth from that in 2020. This boom can be linked to a financing frenzy spurred by the quick adoption of technology and innovative solutions by start-ups gaining traction in response to the pandemic. However, the start-up ecosystem is now facing turbulent times for fundraising as investors seek long-term business strategies, valuations, and a route to profitability amid uncertain market circumstances. Nevertheless, 2022 has the potential to carry forward the momentum with multiple entities having a fair chance of being in the right place when aided by the right technologies. GlobalData leverages the power of alternative data to examine the health of start-ups across multiple dimensions including the quality of their innovations, market presence, and the funding they can attract. This helps our clients to analyze the disruptive potential of start-ups for early alliances, investments, and acquisition prospects to develop future-proof strategic roadmaps for a competitive advantage. Read our report and gather insights on the following topics:
  • Recent Unicorn trends
  • Unicorns in 2022
  • Future Unicorns
  • Start-ups to watch out for
Start-up ecosystem outlook by top geographies
by GlobalData
Enter your details here to receive your free Whitepaper.

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