Crypto Hedge Fund Sells 10% Stake To Top Asset Manager
GMO Financial Holdings has recently made an exciting move in the crypto space. They have acquired 10% of AWR Capital, a crypto hedge fund, for an undisclosed amount.
AWR Capital is a London-based crypto asset manager backed by some leading venture capital firms. AWR Capital is well-known in the industry for its data-driven approach to investing in digital assets.
They offer various services, such as pre-trade analysis, portfolio construction, and execution. The fund aims to generate alpha returns by taking long and short positions in cryptocurrencies, tokens, and derivatives.
GMO Takes 10% Stake In Crypto Hedge Fund
According to an official statement, GMO Financial Holdings, an investor in crypto and foreign exchange margin trading enterprises, obtained a 10% share in AWR Capital, a multi-strategy crypto hedge fund. However, the amount paid by the Japanese company remains unknown.
AWR, a London-based company, will act as a market maker at one of Japan’s most extensive digital assets exchanges and FX, GMO Coin, a branch of GMO Financial Holdings, AWR stated. Market makers are responsible for offering liquidity on an exchange by forming buy and sell orders.
Tomitaka Ishimura, COO at GMO Financial Holdings, mentioned in a statement that the investment will enable AWR to develop its services and solutions to cover a variety of asset classes and strategies.
In 2022, GMO Coin made headlines when it placed 9th on Forbes Digital Assets’ list of top global crypto exchanges. This prestigious recognition involved several factors, including the exchange’s adherence to regulations, its commitment to cyber protection, and its competitive transaction costs.
The exchange is also known for its commitment to security, employing various measures to protect user data and funds.
Phillip Gillespie Joins AWR Capital
AWR stated they had recruited Phillip Gillespie, an experienced algorithmic trader and former Group Chief Executive Officer of crypto market-maker B2C2, as the firm’s Managing Partner. This role will focus on building the fund’s operations and developing its business strategy.
Dave Askey, the founding partner, and manager at AWR Capital, asserted that Gillespie’s proficiency in systematic trading and comprehensive industry contacts would immensely benefit the firm as they create their multi-asset finance services.
With the acquisition of 10% of AWR Capital, GMO Financial Holdings will be well-placed to benefit from the growing crypto markets. Investing in a hedge fund is brilliant, as it allows the investment manager to diversify their portfolio and reduce their risk exposure.”
The acquisition of AWR Capital and the hiring of Gillespie is a sign that GMO Financial Holdings is taking crypto seriously. As the crypto market matures, more institutional investors are getting involved.
With the right team in place and suitable investments, GMO Financial Holdings will be well-placed to benefit from the growth of the crypto market.
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