Prime Factor Capital (PFC), a cryptoasset investment firm headquartered in London, has launched a cryptocurrency fund.
The fund caters to professional and institutional investors such as sophisticated high net-worth individuals, family offices, and private wealth managers, who the firm says are seeking a regulated solution managed by experienced professionals to access the crypto asset class.
PFC also announced that it has closed an equity financing round, raising €500,000 for the firm at a valuation of approximately €6 million with Speedinvest, a European fintech investor, and participation from talent investor Entrepreneur First.
“Blockchain technology is an innovation that has the potential to disrupt a variety of industries. Value from this transformation is captured by blockchain-native assets. We have seen growing interest from investors looking to get exposure to cryptocurrencies in order to access their return profile, and to diversify portfolios with an uncorrelated asset class,” says Nic Niedermowwe, CEO of PFC.
Marcel van der Heijden, a partner at Speedinvest, comments: “Institutional investors need trusted solutions that are robust and meet their requirements. The Prime Factor team, with their experience in asset management and cryptocurrency trading, have built just that.”
“It is great to see that the founding team of Prime Factor, who met on the EF programme, have gone on to become one of the most promising crypto start-ups in London. We are pleased to be supporting the team’s vision with a follow-on investment in the current financing round,” says Matt Clifford, founder of Entrepreneur First.