Hashdex, a leading asset management company specialized in crypto investments, has announced an investment of $26 million in a round led by Valor Capital Group a cross-border venture fund birding the Brazilian and US technology markets that has other blockchain and digital assets companies in their portfolio, in conjunction with Softbank, Coinbase Ventures and Globo Ventures. The venture capital funds Canary, Igah, Alexia, Fuse and Endeavor Catalyst also complete the round.
The amount raised will be used to further establish Hashdex as the segment leader in Brazil and to expand the company’s international presence, reinforcing the asset manager’s strong partnership with the NASDAQ. The expectation is to triple the current staff by hiring professionals from the crypto market and the traditional financial market, while maintaining the high level of the team across multiple geographies.
The series A is announced after a cycle of important milestones in the crypto industry, led by the Brazilian company. In February, Hashdex listed the world’s first cryptocurrency ETF on the Bermuda Stock Exchange (BSX). The ETF replicates the Nasdaq Crypto Index (NCI), an index co-developed by the Brazilian asset manager and the American stock exchange.
The company then launched HASH11, B3’s first digital asset ETF, which also replicates the NCI. The fund went online after raising R$ 600 million (~US$ 120 million) in an initial offer led by Genial with BTG, Itaú and Banco do Brasil. A week later, the product already totaled more than R$ 1 billion (~US$200 million) in equity and was among the three largest ETFs on the Brazilian stock exchange.
“Hashdex’s trajectory was marked by a series of important milestones for the crypto industry. Today, investors from all over the world are able to access simplified investment solutions, just as we played a decisive role in the maturation of the sector’s regulation. Announcing this contribution proves the credibility that the manager has built in the market”, said Marcelo Sampaio, CEO of Hashdex.
“Based on the de-centralized nature of blockchains and the incentive mechanisms, value accrues to participants in the ecosystem and the crypto asset holders. Hashdex is leading the movement to popularize crypto for Brazilian and international investors, creating products which make it easier for any investor to gain exposure to the asset class. We are proud to be partnering with Marcelo Sampaio and the world class team he has built at Hashdex to further enable crypto and blockchain technologies to go mainstream”, said Scott Sobel, Founding Partner of Valor Capital Group
The company is composed of professionals with extensive experience in the financial and technology market and deep knowledge in crypto and blockchain. Currently, the house has more than 150 thousand investors, adding shareholders to the ETF and other funds of the manager, and is responsible for the management of more than R$ 3.5 billion (~US$ 700 million).