AlphaPoint Raises $15 Million In First Major Funding Round

Crypto services company AlphaPoint announced it raised $15 million in its first major round of venture capital funding from Galaxy Digital.

AccessTimeIconJun 14, 2018 at 8:00 p.m. UTC
Updated Sep 13, 2021 at 8:03 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Crypto services company AlphaPoint successfully raised $15 million in its first major round of venture capital funding, the firm announced Thursday.

AlphaPoint raised the funds through Mike Novogratz's Galaxy Digital, the self-described cryptocurrency merchant bank. Chief executive Salil Donde said Galaxy Digital managing director Greg Wasserman is also joining his firm's advisory board to provide "oversight, guidance and insights."

Donde told CoinDesk:

"Galaxy and AlphaPoint are both leaders in the crypto and blockchain space, so there have been, and will continue to be, opportunities where we can collaborate for the benefit of mutual customers. With respect to future products and technology, AlphaPoint will continue to incorporate the needs of our customers and our prospective customers in conjunction with the ever-changing blockchain landscape around us."

The new funds will help AlphaPoint continue its mission of using blockchain technology to digitize assets in both traditional and emerging markets, he said, referencing the Regulated Asset Backed Token (RABT) his firm introduced to provide liquidity in the real estate market.

In a statement, Wasserman noted that "the market opportunity for digitizing illiquid assets is tremendous. Consumers are demanding increased access, transparency and trust. Businesses are seeking increased liquidity with reduced fraud, risk and cost."

Galaxy Digital was launched earlier this year by billionaire and former hedge fund manager Michael Novogratz, and reportedly raised a total of $250 million as a cryptocurrency investment venture.

"We are in the early stages of a fundamental transformation in financial markets due to the digitization of assets ... we are excited to partner with AlphaPoint as we continue to help drive this revolutionary change in digital markets," he said in a press release.

Handshake image via Shutterstock. 

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.