Alan Howard, a billionaire and co-founder of Brevan Howard, a macro hedge fund, makes more investments in cryptocurrency startups. He invested in two new cryptocurrency startups Copper and Kikitrade.
In A series B funding round by the London-based cryptocurrency startup Copper, Alan Howard led the round by a landmark. In May, Copper managed to raise $50 million in its Series B funding round and it was led by two investors Target Global and Dawn Capital.
The investment round which was led by the hedge fund manager raised an additional $25 million. Which brought the total raised funds to $75 million in the Series B funding round. Moreover, the billionaire investor also contributed to the funding round with other existing investors of the startup where his minimum contribution amounted to $12.5 million.
Before Howard invested in Copper, he invested in an Asian-based cryptocurrency trading firm called Kikitrade. The billionaire hedge fund manager, Alan Howard invested $4 million into the startup where the firm’s initial goal was to raise $12 million. Kikitrade’s co-founder says that the initial aim was to make cryptocurrency available to people in a more readily available manner.
On the other hand, Copper focuses on providing cryptocurrency custody and trading services. It is a firm that is great for asset managers and other people and companies who are interested in or want to get involved in cryptocurrencies.
The chief executive of Copper, Dmitry Tokarev, commented on Alan Howard’s generous backing and said that they are really grateful to him. He says that Alan’s early investment into the firm is what makes him different from other investors in the game.
Alan Howard has been funding and backing the cryptocurrency industry despite the uncertainty that it brings with the industry volatility. In May, Howard, along with other major names such as Louis Bacon and Peter Thiel backed Bullish Global. It is a new cryptocurrency exchange by a blockchain software company in a funding amount of around $10 billion.
Howard also has investments in other names such as CoinShares and Komainu and he also owns Elswood Asset Management. Howard’s hedge fund announced that it plans to invest $84 million in bitcoin and other assets.