One River Digital raises $41 million from Coinbase and Goldman Sachs

One River Digital Asset Management, the institutionally oriented crypto-asset manager, closed a Series A financing round with participation from Coinbase Ventures and Goldman Sachs, according to a press release.

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Liberty Mutual Insurance and Infinity Investment Partners also participated in the round. According to Bloomberg, the companies raised $41 million in financing. Investors valued One River Digital at $186 million.

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The crypto-focused company is a subsidiary of One River Asset Management, which oversees about $2 billion in assets. Among One River Digital’s advisers is the former U.S. Securities and Exchange Commission chairman SEC.

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At the end of last year One River Digital backed British billionaire Alan Howard. He invested in the company’s funds and also took a stake in the business.

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Northern Trust serves as administrator of the One River Digital funds. Coinbase is the execution partner and custodian.

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In May One River Asset Management filed an application to launch a carbon-neutral Bitcoin ETF.

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