Coinbase, SoftBank Back $26M Funding for Brazilian Crypto Asset Manager Hashdex

The firm has $76 million in assets under management.

May 12, 2021 at 11:34 a.m. UTC
Updated Sep 14, 2021 at 12:54 p.m. UTC

Hashdex, a Brazilian crypto asset manager, has raised $26 million in investments.

  • Venture capital firm Valor Capital Group led the funding, with SoftBank, Coinbase Ventures and other local investors also participating, Bloomberg reported Wednesday.
  • The Rio de Janeiro-based company, founded in 2018, has about 4 billion reais (almost $76 million) in assets under management.
  • “Investors are still getting to know crypto, and we see room to offer more products in Brazil,” Hashdex CEO and former Microsoft executive Marcelo Sampaio told Bloomberg.
  • Hashdex plans to expand beyond Brazil and boost its staff from 25 to as many as 100 by the end of this year.
  • The firm recently launched a crypto index fund, the Hashdex Nasdaq Crypto Index Fundo de Indice.

DISCLOSURE

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.