The investment bank Moelis & Co, founded by billionaire Ken Moelis, has launched a division focused on global deals involving cryptocurrency startups, Bloomberg reports.
Its head is John Momtazi, co-founder and head of the media investment banking unit at the New York institution. The senior adviser role went to Lou Kerner, a partner at venture firm CryptoOracle.
Moelis & Co is betting that companies will continue to grow and close larger deals. In Momtazi’s view, this was the case in the period after the dot-com bust.
«We like the timing. Any breakthrough technology is volatile. The size M&A-сделок will be strongly correlated with the expansion of market capitalization», — he explained.
Moelis & Co currently represents Voyager Digital in the bankruptcy proceedings. The firm’s lawyers отвергли a recent proposal from FTX addressed to the crypto broker’s clients. Earlier, the investment bank worked with Ripple Labs and CipherTrace.
The firm has invested in the industry through funds Blockchain Capital, Blockchain Coinvestors and Pantera Capital, and Moelis himself participated in a Paxos funding round. According to Momtazi, direct investments are not ruled out in the future.
In July, Lightspeed Venture Partners formed the Lightspeed Faction team focused on the crypto industry.
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