Goldman Sachs co-leads $70M investment in Elwood Technologies
Source:https://techcrunch.com/2022/05/17/goldman-sachs-co-leads-70m-investment-in-elwood-technologies/ Goldman Sachs co-leads $70M investment in Elwood Technologies 2023-01-20 22:45:12

Despite continued volatility in the crypto markets, there still are plenty of funding rounds being announced by traditional finance players betting on companies experimenting with crypto.

Elwood Technologies, a crypto-focused platform founded by British hedge fund billionaire Alan Howard, closed a $70 million Series A co-led by Goldman Sachs and early-stage venture fund Dawn Capital.

Other investors from both traditional and crypto backgrounds include Barclays, BlockFi Ventures, Chimera Ventures, CommerzVentures, Digital Currency Group, Flow Traders and Galaxy Digital Ventures. The round values the firm at about $500 million, according to people familiar with the terms, Financial Times reported.

The mix of investors highlights the involvement of traditional financial institutions working alongside digital asset technology providers, James Stickland, CEO of Elwood Technologies, said.

Elwood’s platform aims to provide institutional-level access to cryptocurrency markets and liquidity venues. The capital will be used toward increased demand from institutional clients and expanding its products and global operations, it said.

“As institutional demand for cryptocurrency rises, Goldman Sachs has been broadening its market presence to appeal to client demand,” Mathew McDermott, global head of Digital Assets at Goldman Sachs said in a statement.

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Tech, Technology Source:https://techcrunch.com/2022/05/17/goldman-sachs-co-leads-70m-investment-in-elwood-technologies/

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