IOHK Invests Six-Figure Sum Into Crypto Asset Manager Wave Financial

Charles Hoskinson, IOHK's CEO, will become an adviser to Wave Financial as part of the deal.

Jul 6, 2020 at 8:49 a.m. UTC
Updated Sep 14, 2021 at 8:59 a.m. UTC

Cardano developer house IOHK has made a six-figure investment into Wave Financial, its partner for a new $20 million Cardano fund.

  • An IOHK spokesperson confirmed the investment had just been made, but declined to comment on the equity arrangement and any plans to make further commits into Wave.
  • CoinDesk understands the sum isn't big enough for IOHK, a Hong Kong-based company, to have significant sway over Wave's corporate governance.
  • Charles Hoskinson, IOHK's CEO, will become an advisor to Wave Financial as part of the deal.
  • IOHK invested $10 million into a joint "cFund" to support startups and early-stage businesses working on Cardano and other IOHK tech initiatives last week.
  • Wave Financial, a private company based in Los Angeles and London, said it would raise the other $10 million from external investors.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

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

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
Coinbase Pares Back Hiring Plans Amid Weak Earnings, Poor Market Condition

The exchange previously planned to hire as many as 2,000 employees earlier this year.

The exchange previously planned to hire as many as 2,000 employees earlier this year.

2
Bitcoin Mining Appears to Have Survived Ban in China

From September 2021 to January this year, China's contribution to the bitcoin mining network was second only to that of the U.S.

From September 2021 to January this year, China's contribution to the bitcoin mining network was second only to that of the U.S.

3
BitMEX Starts Spot Exchange on Eve of Co-Founder Hayes' Sentencing

BitMEX co-founders Arthur Hayes and Ben Delo will be sentenced for violation of the Bank Secrecy Act on Friday.

BitMEX co-founders Arthur Hayes and Ben Delo will be sentenced for violation of the Bank Secrecy Act on Friday.

4
Terra’s LUNA Gains, Then Slides, After Do Kwon's Fork Proposal

Traders sold the tokens even as founder Do Kwon proposed a separate chain to make up for last week’s implosion of UST.

Traders sold the tokens even as founder Do Kwon proposed a separate chain to make up for last week’s implosion of UST.