London-based Old Street Digital (OSD), a crypto asset advisor that claims to be building a range of active, fundamental research-driven, investment funds for institutional investors, announced on Monday that it has raised $2.8M (approximately €2.74M) in a Seed round of funding.
The investment was led by an early-stage venture capital firm, Draper Associates.
Tim Draper, Founding Partner of Draper Associates, says, “Old Street Digital’s unique approach applies traditional fund-management expertise to the world of crypto. The Old Street Digital team is well-positioned to provide access to a range of research-backed, crypto-based investment funds, and we at Draper Associates are excited to support them.”
The round also saw participation from Plassa Capital and prominent venture capital and angel investors across Europe, Asia and the US, as well as senior executives from the UK Asset Management industry.
OSD co-founder, Gary Clarke, says, “It’s humbling to be supported by investors who understand institutional fund management at the highest level and are backing us to deliver in crypto. Over the last 27 years, I have managed money for many of the largest and most demanding institutional clients in the world. We intend to bring those lessons and disciplines, and align them with new technology and talent.”
What does Old Street Digital offer?
Founded by Paul Ridley, Gary Clarke and Nic Basson, OSD claims to be building an institutional asset manager that will bring active, fundamental research-driven portfolio management to crypto.
The company aims to bring top-tier fund management expertise from the traditional world into crypto.
Paul Ridley says, “There is an enormous opportunity for institutional investors in digital assets but they need a credible product offering from experienced professionals they can trust. We’re building a crypto asset manager to fill this gap with a range of actively-managed funds in an accessible fund structure. Old Street Digital’s first fund launches this quarter and the firm expects to open another in Q4.”