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Yale-Backed Hedge Fund Invests in Crypto Broker That Deals with Bitcoin (BTC), Ethereum (ETH) and Other Cryptocurrencies

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Mon, 03/04/2019 - 18:59
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  • 💰💣After getting mad money from David Swensen’s $30 bln endowment, Paradigm invests in a crypto broker that strives to change the face of digital asset trading 📊

Cover image via U.Today
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Tagomi, the first live crypto brokerage that offers services to seasoned high-net-worth investors who deal with Bitcoin (BTC), Ethereum (ETH) and other digital assets, has raked in $28 mln during its recent funding round. The fresh set of financing was led by two crypto oriented hedge funds — Paradigm and Pantera Capital.      

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David Swensen’s bet on crypto  

As reported by U.Today, David Swensen, the legendary investor behind Yale’s $30 bln endowment, jumped on the crypto bandwagon back in October 2018 when he invested in Andreessen Horowitz and Paradigm.

Paradigm is a hedge fund that puts money in new cryptocurrency startups. It wasn’t disclosed how much money Paradigm got from Yale, but it managed to raise a whopping $400 mln.

Luring in sophisticated investors

Paradigm’s Matt Huang is excited that the partnership is the next step in the development of cryptocurrency trading. Meanwhile, Pantera Capital CEO Dan Morehead also calls it ‘a critical step’ when it comes to improving the execution of cryptocurrency transactions for their fund.

After the successful funding round, Tagomi is expected to expand its operations in order to keep up with client demand. Notably, the startup was launched in March (when Bitcoin had already tanked), but its clients are bullish on the underlying technology behind cryptocurrencies.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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