Brevan Howard Digital, Galaxy Digital invest in crypto accelerator Alliance aiming to raise $100 million for new fund | Headlines | News | CoinMarketCap
04/05/2024 00:13
Brevan Howard Digital, the crypto arm of the global asset management giant, and Galaxy Digital, the crypto firm founded by billionaire Mike …
Brevan Howard Digital, the crypto arm of the global asset management giant, and Galaxy Digital, the crypto firm founded by billionaire Mike Novogratz, have both invested in crypto accelerator Alliance's third fund.
The Alliance Fund III had its first close in February, getting commitments from Brevan Howard Digital and Galaxy Digital worth $20 million, according to Alliance limited partner meeting slides dated Mar. 26 obtained by The Block. A source with direct knowledge of the matter told The Block that each firm has already invested $10 million in the fund, meaning it is not just a commitment.
According to the meeting slides, Fund III is looking to raise an additional $80 million by July, capping it at $100 million. It is expected to invest $500,000 per startup.