Crypto Fund Manager One River Digital Raises $41M From Goldman, Coinbase

Crypto fund manager One River Digital Asset Management raised $41 million in a Series A funding round that included Coinbase and Goldman Sachs, according to a Bloomberg report.

• The round valued River Digital at $186 million. Liberty Mutual Group Inc., Infinity Investment Partners and a European family office also participated.
• One River manages assets for mostly institutional investors such as pension funds, endowments and sovereign wealth funds. The fund is backed by macro fund manager Alan Howard.
• The firm has two main funds, including one that invests in bitcoin and another that holds ether, and it recently opened a third fund that Howard has used to invest in solana, according to Bloomberg.
• In March, former U.S. Securities and Exchange Commission Chairman Jay Clayton joined One River’s advisory council along with economist Jon Orszag and former White House adviser Kevin Hassett.
• Coinbase declined to comment. Goldman and One River didn’t immediately return requests for comment.