This comes one year after the White House pledged to cut cancer rates in half over 25 yearsRead more...
Funds will be used continue building out the infrastructure and improve operations
Announced this week, Cambrian Asset Management, a cryptocurrency investment management company, has raised $4.2 million in seed round funding, after originally planning for a $3 million round.
Lead equity investors in the funding round include Howard Morgan, co-founder of Renaissance Technologies and First Round Capital; Tano Capital, the family office of the founding family of Franklin Templeton Investments; Dennis Phelps, General Partner, IVP; and Kevin Ryan, co-founder, MongoDB & Business Insider.
Cambrian has been studying crypto markets for over three years, with Martin Green, co-CIO and CEO of the company, telling Crunchbase that the company's model "seeks to generate exceptional risk-adjusted returns while limiting downside risks."
The financial product offered is intended for family offices and accredited investors who are looking to diversify their portfolios through things like Bitcoin.
According to CoinDesk, "Cambrian uses probabilistic algorithms, or computer programs developed on statistically focused models, to take long and short trading positions on large market capitalization cryptocurrencies such as bitcoin over several days or weeks rather than by the hour or minute."
In the press release, Green notes, "We are very early in the development of the digital asset market. Notwithstanding, we are encouraged by the exceptional opportunities we see by combining a data-driven, quantitative approach with rigorous risk management. We hope to build on a first-mover advantage in order to compound capital at an exceptional rate."
The funds raised will be used to improve infrastructure, operations, and continue research and development.
Support VatorNews by Donating
Read more from our "Trends and news" series
Medable will allow thyroid cancer patients in Nova Scotia to connect with a physician via telehealthRead more...
The value-based maternity care model will be made available to HTC members in New JerseyRead more...