Former Galaxy Digital executive Tim Grant launched a cryptocurrency-focused investment company called Deus X Capital with an initial $1 billion in investment assets and capital.
He will join the company in the role of CEO while Stuart Connolly, formerly from Red Acre Ventures, will serve as chief investment officer.
While operations will be focused on Malta, London and the United Arab Emirates, Deus X Capital will invest in private equity, venture capital, venture building and fund allocation. Currently, the company’s investments include its wholly-owned Netrios, stakes in Hilbert Group and Galaxy, and venture investments in SEBA, HAYVN and Cryptochill.
Cryptocurrency market maker AlphaLab40 will be Deus X's first incubation project. Connolly, the founder, also currently serves as CEO at AlphaLab40.
“We are committed to investing in and building the most innovative digital asset, fintech and capital markets businesses, constructing a complementary portfolio of companies that can contribute to creating a new financial system that removes silos, lowers barriers to entry and can create better outcomes for everyone,” Grant said in a statement as cited by The Block.
Read Next: Invesco Galaxy Spot Ether ETF Proposal Joins US Queue, Futures ETF To Launch Soon
Find out more about crypto-focused investment companies. Join Benzinga's Fintech Deal Day & Awards on Nov. 13 and Future of Digital Assets on Nov. 14 in New York City to stay updated on trends like AI, regulations, SEC actions, and institutional adoption in the crypto space. Secure early bird discounted tickets now! What’s more, USE BZCRYPTO code to get 20% OFF.
Photo: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
