The Hong Kong-based business is part of a trend of businesses seeking to tap into the world of digital assets such as bitcoin. Aspen Digital is reportedly targeting family offices and other investors in Europe, the Middle East and Asia.
Hong Kong-based Aspen Digital, a digital asset investment platform tailored for asset managers, institutions and other professional investors, has secured $8.8 million in pre-A funding. RIT Capital Partners, an investment trust founded by Jacob Rothschild, co-led the funding round.
Besides RIT, Liberty City Ventures - an early venture investor in the blockchain space - is also involved in the fundraising round.
The financing will enable Aspen Digital to launch its platform and expand into London, Yang He, co-founder and chief executive of Aspen Digital, was quoted by Reuters as saying (4 August).
Other investors include Chatchaval Jiaravanon and Chaval Jiaravanon - members of Thailand's richest family and owners of Fortune magazine.
The platform is targeting family offices and asset managers in Europe, Asia and the Middle East who want to have a single portal from which they can build a diversified crypto portfolio. It expects to go live later this year, it said in a press release. The firm said that it “also plans to establish a Singapore office to target the Southeast Asia market”.
Aspen Digital describes itself as a “technology and financial services company with a mission to accelerate the mass adoption of digital assets.” The company provides a digital asset management solution for asset managers, institutions, and sophisticated investors. Aspen Digital was co-founded by digital assets innovators and asset management veterans at Everest Ventures Group and TT Bond Partners in 2021.
Through a single account, Aspen Digital brings together and centralises key offerings from dozens of leading digital assets service providers, such as FTX, Celsius Network, Hex Trust, among others. Through their account, institutional clients can execute trades, enhance yield and automate investment strategies. Aspen Digital also provides client portfolio reporting, risk management, market insights, and custody solutions.
“The Aspen Digital platform is a turn-key solution for investment advisors to manage digital assets on behalf of their clients. The launch is a major step in making this powerful and transformative asset class available to this especially significant investor base,” Emil Woods, founding partner of Liberty City Ventures, said.