Former Goldman Sachs Marcus Head Launches Crypto Investing App with $33M
American venture capitalist Adam Dell, brother of Michael Dell, the founder of computer manufacturing company Dell Inc Component investment team backed the former head of product at “Goldman Sachs Marcus” crypto investment app “Domain Ventures”.
Reportedly, $33 million has been raised for this project on January 25. Adam Dell leads the investment team with 25 former Goldman Sachs employees.
Former Goldman Sachs CTO Elisha Wiesel and former Commodity Futures Trading Commission Chairman Christopher Giancarlo were also invited to join the project.
The app will target retail investors with real-time market analysis and client representation to help clients manage and plan their investment portfolios. Domain Ventures will charge an annual management fee of 1%.
Investors in the project include venture capital firm Bessemer Ventures and Salesforce.com Inc. co-founder Marc Benioff, also include Maveron, RRE Ventures, SV Angel, and Joe Lonsdale, according to Bloomberg.
Adam Dell says that:
"We developed Domain Money to provide investors a sophisticated, intuitive, and holistic platform to invest in crypto, not as a novelty, but as a core component of their portfolios."
U.S.-based cryptocurrency exchange Gemini will facilitate the app’s crypto trading capabilities and digital clearing & custody engine that provides a suite of innovative technology solutions that support the complete trading & investing Apex Clearing will provide securities trading and custody.
Image source: Shutterstock