RIT Capital Partners, set up by Jacob Rothschild, is taking part as one of the leading investors in the fundraising round for crypto investment firm Aspen Digital that will enable wealthy clients to invest in crypto and manage their holdings.
The news was reported by Reuters.
Rothschild-backed RIT co-leads funding for crypto platform Aspen Digital https://t.co/20SfuX44DW pic.twitter.com/ncMFJQKzXP— Reuters (@Reuters) August 4, 2021
$8.8 million funding round backed by Rothschild's trust
The RIT trust will join a venture investment firm in the DLT field, Liberty City Ventures, in an Aspen Digital funding round to let it raise $8.8 million.
This is an early-stage investment and will kickstart the launch of the company and help it expand to the U.K.'s capital city of London, according to Aspen Digital co-founder and CEO, Yang He.
Other investors will join in as well. Among them are Chatchaval Jiaravanon and Chaval Jiaravanon—they belong to the wealthiest family in Thailand and own Fortune magazine.
RIT is publicly listed in London and, as of late, it has invested in several businesses working in the crypto industry, such as U.S.-based Kraken exchange. At the moment, Jacob Rothschild owns the biggest stake in the exchange, totaling 12.39 percent.
Targeting wealthy clients in Europe and Asia
Reuters has shared that the company will work with family offices and asset management funds in key locations in Asia, Europe and the Middle East.
Aspen Digital is expected to launch later this year and help family offices and management funds work out diversified portfolios. It will enable investors to purchase and store crypto, put money in yield-farming projects and offer other popular investment strategies used by multiple crypto funds.
Yang is honored to have the Rothschild fund among the early-stage investors in his company.