Argo Blockchain-linked DeFi-focused fund raises $15.3 million

Dispersion Holdings, a DeFi-focused investment firm, raised £11m ($15.3m) after a stock placement. CoinDesk reports this.

The securities were listed on the British alternative trading system Aquis under the ticker DEFI. Among the buyers was the large asset manager Schroders.

Dispersion Holdings’ market capitalization stood at £18m ($25m).

DEFI is pitched as a vehicle for investors to bet on the sector’s further development, without needing to hold cryptocurrencies directly or to touch markets built on smart contracts.

Dispersion Holdings’ board includes Argo Blockchain co-founder Mike Edwards and director of the mining-backed NFT Investments, Timothy Le Druillenec. The latter in April this year raised £35m also via an equity placement on Aquis.

We are going to invest in early-stage projects based on Ethereum, Binance and Polkadot, Edwards explained.

Earlier ForkLog reported on another upcoming IPO tied to the Argo Blockchain crypto fund.

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