Arca raises $10 million in Series A funding

Arca, a digital asset investment management firm, announced the completion of its Series A funding round totaling $10 million.

Announcing our Series A Funding Roundhttps://t.co/KTVEvjzzVg

— Arca (@arca) January 13, 2021

The round was led by venture capital firm RRE Ventures, with participation from Loews Hotels & Co president Alex Tisch and a coalition of financial services firms led by LittleBanc Advisors. RRE founder James Robinson will join Arca’s advisory board.

According to the press release, the funds will be used to grow the team and develop new regulated products for investors and to educate them on navigating innovations in the field of digital finance.

“We believe that the adoption of digital assets as a mechanism for capital formation and seed financing is the greatest innovation in financial services since the Dutch East India Company publicly listed shares of its business in the 1600s,” said Arca CEO Ryen Steinberg.

He noted that assets of the firm’s flagship hedge fund doubled each quarter in 2020.

Earlier in September, the company evaluated the results of the Gnosis project’s activities as unsatisfactory and proposed to its team to return the funds to investors.

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