Billionaire Alan Howard Invests $25 Million in Copper, the London Custodian

Co-founder of the Brevan Howard Asset Management hedge fund, Alan Howard, invested $25 million in the London-based custody service Copper.

Hot on the heels of our Series B $50m raise, Alan Howard of Brevan Howard has invested $25m in Copper.

This additional funding signals the growing interest and endorsement from the traditional finance sector in cryptoassets.

Full details: https://t.co/HCdp0uJ1wm pic.twitter.com/JzY4zyU17d

— Copper (@CopperHQ) June 11, 2021

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Funding marked the continuation of Copper’s Series B round, during which Copper raised $50 million.

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\”I am pleased to support Copper. Their innovative technology, particularly in the security and speed of processing cryptocurrency transactions, is what the traditional sector needs to offer crypto products to clients,\” said Howard on his investment.

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According to a press release, the fresh funding signals growing interest in digital assets from traditional market participants. The funds will be used to develop new products and for global expansion.

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According to the company’s chief executive, Dmitry Tokarev, major entrants to the cryptocurrency market still face ‘significant barriers,’ particularly in terms of transaction speeds and the security of trading. 

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Alan Howard also holds a stake in the venture firm Elwood Asset Management, with which Copper has formed a strategic partnership. 

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Elwood Asset Management specializes in cryptography and blockchain. According to its CEO James Stickland, the collaboration will help both sides push products aimed at institutional investors.

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In March 2021, Howard supported the custody service Komainu in a $25 million funding round.

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As reported in May by Bloomberg, Brevan Howard Asset Management planned to invest up to 1.5% of its assets under management in digital assets. 

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