As per the latest reports, One River Digital has made an announcement in regards to completing a successful funding round. One River Digital is a hedge fund that provides services in cryptocurrencies. The firm provides hedge fund services for cryptocurrencies such as Ether (ETH) and Bitcoin (BTC).
One River Digital was founded back in 2020 and since the launch, it is the first-ever funding round held by River Digital.
Sebastian Bea, the president at One River Digital was the one who announced the completion of a funding round. Bea stated that the funding round they had held has been really successful.
Bea stated that from the funding round, they have managed to generate funds worth $41 million. Bea reportedly made a statement confirming the funding round on Wednesday, September 22, 2021.
The One River president revealed that the funding round was mainly led by Coinbase Ventures and Goldman Sachs. Several other firms also made their presence known for the particular round with their contributions. Other firms included Infinity Investment Partners, a management firm for alternative investment. Then there is Liberty Mutual Insurance, which is a diversified global insurer from America.
Bea has also revealed the plans and developments the company is going to make with the help of the funds they have raised. Bea stated that they will be using the proceeds from the funding round for creating more opportunities in the investment sector. They will be introducing more products and services in the digital ecosystem.
Their aim is to bring in more exposure and attention of the public towards the digital world. The world of digitalization is already here but people need to be made aware of that. People are still looking towards the traditional financial systems and manual services that are very inconvenient.
Over the course of time, as technology progresses, the world is set to benefit from virtual means rather than doing it in real-time. This is the reason it is really important for them to have their contribution to the advancement of the electric and digital world.
The funds will eventually help them accelerate and expand the scale of services within sectors such as operations, distribution, and investments. Their main goal is to bring mainstream adoption towards cryptocurrency and blockchain technology.
They have been wanting to play a key role in the mass adoption of the digital world and this funding round will prove their viewpoint to the entire world.
It was Eric Peters who founded One River Digital back in 2020, and he currently operates as the CEO of One River Asset Management. One River Asset Management is the parent company to One River Digital.