Hong Kong-based Aspen Digital, a digital asset management platform for institutional investors, announced on Wednesday that it has secured US$8.8 million in pre-A funding to develop a one-stop shop for asset managers to invest in digital assets and manage their clients’ portfolios.
- The funding round was led by RIT Capital Partners, the London-based investment trust founded by Lord (Jacob) Rothschild of the Rothschild banking family and Liberty City Ventures, an early venture investor in the blockchain industry.
- Other investors include Taiwan-based Cherubic Ventures, Hong Kong-based early stage venture fund Token Bay Capital and Somerley Capital, a Hong Kong-based financial advisory group. Chatchaval Jiaravanon and Chaval Jiaravanon from the prominent CP Group family in Thailand.
- Aspen Digital — co-founded by blockchain experts and finance veterans at Everest Ventures Group and TT Bond Partners — aims to address the pain points faced by traditional investors who are new to digital asset investing such as from picking cryptocurrency exchanges and wallets, to navigating compliance processes and portfolio tracking across multiple platforms.
- The platform will bring together key offerings from digital assets service providers, such as Hong Kong-based cryptocurrency exchange FTX, Celsius Network, Hex Trust, and allow institutional clients to execute trades, enhance yield and automate investment strategies. Aspen Digital will also provides portfolio reporting, risk management, market insights and custody services to their clients.
- The fresh capital will be deployed for the company to expand to Hong Kong, London and Singapore to target clients in those regions.
- Yang He, co-founder and CEO of Aspen Digital, said in a statement that his company’s mission is to “make the world of digital assets more accessible. We are thrilled to be launching our platform internationally later this year to empower asset managers around the world to better serve their clients in the new digital asset market.”