One River Digital, a crypto-focused hedge fund that provides access to Bitcoin (BTC) and Ether (ETH), has closed its first round of funding since launching last year.

Sebastian Bee, president of River Digital, confirmed Wednesday that the company has raised $41 million in Series A funding from investors, including Goldman Sachs and Coinbase Ventures.

One River Digital announced Tuesday that other investors include US global diversified insurer Liberty Mutual Insurance and alternative investment management firm Infinity Investment Partners.

The new capital will help the company increase its investment opportunities to support the digital ecosystem, according to the president of One River Digital.

We will use these funds to expand our investments, distribution and operations. This money will help us better understand our goal of helping institutions access and invest in financing.”

As previously reported, One River Digital was founded in 2020 by Eric Peters, founder and CEO of One River Asset Management, the parent company of the startup. The crypto fund is widely known in the crypto community, having raised around $600 million in bitcoin and ether by the end of 2020, and has racked up huge profits after a massive cryptocurrency batch in early 2021.

One River is backed by billionaire hedge fund manager Alan Howard, co-founder of Brevan Howard, who reportedly bought 25% of One River Asset Management in October.

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“The experience and expertise of this team, along with our existing investors in Brevan Howard and our Academic and Regulatory Board, will be of great benefit to One River as we pursue our mission to be the leading institutional investment manager in digital assets at Peters.

As previously reported, One River Digital established its Academic and Regulatory Advisory Board in March 2021, which was attended by prominent industry figures such as Jay Clayton, former chair of the US Securities and Exchange Commission. In May, One River Digital applied for a carbon-neutral listed fund.

Source: CoinTelegraph