Brevan Howard Subsidiary Raises $1B for Crypto Fund
Brevan Howard Asset Management reportedly raised over $1 billion for its digital asset subsidiary, BH Digital.
Launched in Sep. 2021, BH Digital now has a total capacity of $1.5 billion for the crypto market; a lack of liquidity is currently preventing the firm from deploying the totality of its funds.
BH Digital reportedly only suffered a 4-5% loss in the crypto market’s collapse.
Share this article
Brevan Howard Asset Management subsidiary BH Digital reportedly raised $1 billion from institutional investors for its crypto strategies and is still accepting further investments.
Largest Crypto Fundraise
The crypto downturn hasn’t frightened institutional investors.
European hedge fund management company Brevan Howard Asset Management, which has over $23 billion in assets under management, has reportedly raised more than $1 billion from institutional investors for its crypto-focused vehicle, BH Digital.
BH Digital, which was launched in Sep. 2021, has not fully deployed the totality of its capital yet; a source said lack of liquidity was preventing the commitment of the entire sum. Thanks to the raise, the largest in crypto history, BH Digital is reportedly now capable of deploying up to $1.5 billion, with the number expected to rise. The fund remains open for further capital; investors must commit a minimum of $5 million.
The fund reportedly suffered only a 4-5% loss from its creation until June despite the market’s recent brutal downturn (Bitcoin and Ethereum are respectively trading at 67.3% and 67.2% from their all-time highs.)
The news of the massive fundraise comes following months of turmoil which saw Terra, one of crypto’s top protocols, implode and directly wipe out more than $43 billion from the market; the event was responsible for staggering losses for investment firms, including crypto fund Three Arrows Capital, whose solvency problems, in turn, triggered liquidity crises for numerous crypto lending companies such as Celsius and Voyager Digital.
Disclosure: At the time of writing, the author of this piece owned ETH and several other cryptocurrencies.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.