A division of the financial services firm and investment bank Cowen has raised over $46 million for a fund that will apparently make digital-asset-focused investments.
- According to a Form D filed with the U.S. Securities and Exchange Commission on Wednesday, Cowen Digital Asset Investment Co. LLC raised precisely $46,015,000 from 80 investors.
- They each put in at least the minimum investment of $10,000 to the pooled investment fund.
- Cowen Digital Asset Investment was incorporated in Delaware on March 23, 2021, according to the state's corporate registry.
- The precise investment strategy of the fund – that is, whether it will directly invest in cryptocurrencies or instead via investment vehicles or industry firms – isn't made clear in the filing.
- Earlier this month, however, Cowen Digital Asset Investment invested $25 million in digital asset infrastructure provider PolySign.
- The deal ushered in a partnership aimed to allow Cowen’s institutional investor clients to "secure, access and leverage" cryptocurrencies and digital assets.