The investment arm of the financial company Cowen attracted more than $46.015 million for a fund focused on the digital asset industry.
According to a notice to the U.S. Securities and Exchange Commission, Cowen Digital Asset Investment Co. LLC attracted $46.015 million from 80 investors. The minimum entry threshold was $10,000.
According to the state registry, Cowen Digital Asset Investment Co. LLC was registered in Delaware on March 23, 2021.
The notice does not specify which investment strategy the fund will pursue: investing directly in cryptocurrency or backing industry-related companies.
In early May, Cowen invested in infrastructure startup PolySign $25 million. The parties plan to use each other’s expertise to jointly deploy a comprehensive institutional-grade digital-asset management solution for institutional investors.
Custodial services will be provided by Poly Sign’s subsidiary — Standard Custody & Trust Company, which holds a cryptocurrency-trust license from the New York State Department of Financial Services.
1confirmation launched a $125 million fund to invest in early-stage cryptocurrency startups, as well as individual digital assets and non-fungible tokens.