RIT Capital Partners has participated in a funding round for Aspen Digital’s UK expansion plans.
RIT Capital Partners, formerly known as Rothschild Investment Trust, led an $8.8 Million Series A round of funding for Hong Kong-based Aspen Digital.
British peer and Investment Banker Jacob Rothschild’s company, RIT Capital Partners has been officially announced to have led the funding round for Aspen alongside New York-based technology venture firm Liberty City Ventures. The crypto investment platform will use the funds to focus on asset managers, institutions, and experienced investors. According to Aspen’s Chief Executive Officer and co-founder Yang He, the money raised will deeply support its strategy to invade the UK market.
Several other significant investors, who contributed to the funding round included Hong Kong-based Somerley Capital, Silicon Valley-based-Cherubic Ventures, early-stage venture capital Token Bay, and Chatchaval Jiaravanon, who belongs to the richest family in Thailand.
Aspen Digital plans to inaugurate its platform by the end of 2021. It also has plans to target markets in Asia and Europe. At present, the company is building its offices in London and Singapore, which will help them manage operations on two different continents. On the success of its recent round of funding, Yang He says that the company feels honored to have the senior-most wealth management family in the world support its venture to create a single portal for all crypto investments.
Aspen Digital currently provides services like client portfolio, risk management, and market insights, along with custody solutions. The new platform, however, is working towards consolidating significant crypto offerings from market frontrunners like Celsius Network, Hex Trust, and FTX.
A few months ago, RIT procured a stake in the Kraken exchange with an investment of $5.3 Billion. According to a report, the initiative was taken following Kraken’s decision to go public in 2022. Recently in December last year, RIT featured in another funding round for Paxos Trust Company, a New-York based financial institution and technology company specializing in blockchain. Established in 1961, RIT has a listing on London Stock Exchange and the FTSE 250 Index. Jacob Rothschild retains his position as the largest stakeholder of RIT with a 12.29% stake.
Investor enthusiasm over crypto markets has skyrocketed over the years. A recent study proves that seven out of ten investors plan to purchase digital assets in the future.
Sanaa is a chemistry major and a Blockchain enthusiast. As a science student, her research skills enable her to understand the intricacies of Financial Markets. She believes that Blockchain technology has the potential to revolutionize every industry in the world.