Hedge fund manager Alan Howard invests in two crypto startups

A long-running backer of the crypto industry, billionaire hedge fund manager Alan Howard recently invested in two digital asset startups.

Billionaire hedge fund manager Alan Howard continues backing the cryptocurrency industry with fresh investment in two digital asset startups.

The co-founder of major asset manager Brevan Howard led a $25-million extension raise for London-based crypto services firm Copper.co. The company announced Friday that the new investment follows a $50-million Series B funding round led by companies such as Dawn Capital and Target Global.

The additional funding will be directed to further strengthen Copper’s expertise in enabling traditional financial firms to benefit from blockchain technology and cryptocurrencies. The firm stressed that the additional funding shows the growing interest in crypto from the traditional finance sector.

The Copper investment follows another Howard-backed $12-million fundraise for Asian crypto investment platform Kikitrade announced Thursday. The startup intends to channel the new capital to expand its business and compliance across Australia, Hong Kong, Taiwan and Southeast Asia.

Related: Berkshire Hathaway invests $500M in Brazilian digital bank

Howard has previously invested in major crypto firms, such as European digital asset manager CoinShares, blockchain and software development company Block.one and institutional crypto trading platform Elwood.

Howard also owns a 25% stake with One River Digital Asset Management, a United States-based hedge fund that purchased $600 million worth of Bitcoin (BTC) and Ether (ETH) last year. Earlier this year, Howard led a $25-million funding round for Komainu, a digital asset custody services provider created by global bank Nomura in partnership with crypto wallet firm Ledger and CoinShares.

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