Crypto Fund Manager One River Digital Raises $41M From Goldman, Coinbase

The Series A funding round valued One River Digital at $186 million.

Sep 21, 2021 at 5:19 p.m. UTC
Updated Sep 21, 2021 at 5:58 p.m. UTC

Crypto fund manager One River Digital Asset Management raised $41 million in a Series A funding round that included Coinbase and Goldman Sachs, according to a Bloomberg report.

  • The round valued River Digital at $186 million. Liberty Mutual Group Inc., Infinity Investment Partners and a European family office also participated.
  • One River manages assets for mostly institutional investors such as pension funds, endowments and sovereign wealth funds. The fund is backed by macro fund manager Alan Howard.
  • The firm has two main funds, including one that invests in bitcoin and another that holds ether, and it recently opened a third fund that Howard has used to invest in solana, according to Bloomberg.
  • In March, former U.S. Securities and Exchange Commission Chairman Jay Clayton joined One River’s advisory council along with economist Jon Orszag and former White House adviser Kevin Hassett.
  • Coinbase declined to comment. Goldman and One River didn’t immediately return requests for comment.

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.

Nate DiCamillo is a business reporter at CoinDesk with a focus on banking and economics.