Crypto fund manager One River Digital Asset Management raised $41 million in a Series A funding round that included Coinbase and Goldman Sachs, according to a Bloomberg report.
- The round valued River Digital at $186 million, and Liberty Mutual Group Inc., Infinity Investment Partners and a European family office also participated.
- One River manages assets for mostly institutional investors such as pension funds, endowments, and sovereign wealth funds. The fund is backed by macro fund manager Alan Howard.
- The firm has two main funds, one that invests in bitcoin and another that holds ether, and recently opened a third fund that Howard has used to invest in Solana, according to Bloomberg.
- In March of this year, former SEC chairman Jay Clayton joined One River’s advisory council along with economist Jon Orszag, and former White House adviser Kevin Hassett.
- Coinbase declined to comment. Goldman and One River did not immediately return requests for comment.
