One River Asset Management Closes $41M Funding Round Led by Goldman Sachs

One River Asset Management, one of the leading institutional asset managers in the cryptocurrency ecosystem, has completed a $41 million Series A funding round led by Coinbase Ventures and Goldman Sachs Group Inc, amongst others.

As noted by the firm, the funds will help deepen its ties with financial and digital industry leaders and provide capital to accelerate One River Digital’s ongoing development further. 

The One River Asset Management’s funding and its high-profile participants, including the two Wall Street giants named above, showcases the growing influx of mainstream players into the digital currency industry. With many ways to embrace crypto-related investments, active backing players in the space through venture capital funding has proven to be a very safe bet for many, including Goldman Sachs.

“We are thrilled to have the support of these five new strategic investors. Each institution is a leader of their specific category of finance, bringing with them unique experiences, connectivity, and capabilities,” said Sebastian Pedro Bea, President of One River Digital. “We are already collaborating to develop and distribute an expanding range of institutional digital asset strategies that best meet the needs of our global clients.”

One River Asset Management made headlines back in March when it employed former US Securities and Exchange Commission (SEC) boss Jay Clayton as one of its advisors. The aim was to get a headstart in navigating the regulatory landscape as the company seeks to roll out a number of products to increase its market share.

A number of digital currency firms and projects have raised funds successfully this year. Amongst the most notable ones include the $100 million Series C round announced by Singapore-based Digital financial service platform Matrixport and Avalanche’s recent $230 million raised from a group of investors led by Polychain and Three Arrows Capital, amongst others.