A $5 million anchor investment from the top cryptocurrency company has been made in Metalpha Technology Holding Ltd.’s Next Generation Fund I, which was launched in partnership with NextGen Digital Venture Limited and is based in Hong Kong.
According to a statement from Metalpha Technology, this strategic investment comes at a time when demand for its licensed fund products from institutional investors, family offices, and high-net-worth individuals is on the rise.
The Next Generation Fund I, according to the statement, offers a regulated and compliant channel for investing in the products of Grayscale Investments LLC through structured derivatives.
As of March 2023, the fund has secured $20 million out of a total $100 million capital raise from international investors.
“We are excited about the future of our licensed funds products,
“We aim to capitalize on the fast-growing digital assets industry here in Hong Kong and provide our clients with competitive, complaint products worldwide,” said Adrian Wang, President of Metalpha Technology Holding Ltd.
As a business that has survived multiple Bitcoin cycles, according to NextGen Digital Venture Limited’s founding partner Jason Huang, Metalpha expertise is invaluable to their mission and increased their confidence in the GBTC investment.
“At NextGen Digital Venture, our aim is to offer legitimate and secure exposure to the rapidly evolving crypto landscape, providing a trusted bridge between traditional and digital assets for investors,” he said.
Metalpha was established in 2015 and went public on October 20, 2017.
The listed company is committed to offering investment and wealth management services on a full-service, institutional-grade platform through its subsidiaries.
The company is dedicated to providing participants in the cryptocurrency market with the best structured derivative products and high-quality investment products and trading capabilities.
NextGen Digital Venture, which was established in 2023, aspires to be the leading Asian platform for exposing traditional finance to cryptocurrencies.