Arca, a digital asset management firm, has announced the completion of a $ 10 million Series A funding round.
Announcing our Series A Funding Roundhttps: //t.co/KTVEvjzzVg
– Arca (@arca) January 13, 2021
The round was spearheaded by venture capital firm RRE Ventures, with Alex Tisha, President of Loews Hotels & Co, and a coalition of finance companies led by Littlebanc Advisors. RRE founder James Robinson will serve on Arca’s advisory board.
According to the press release, the company will use the raised funds to expand the team and develop new regulated products for investors and train them to manage innovations in digital finance.
“We believe the adoption of digital assets as a vehicle for capital formation and seed funding is the greatest innovation in financial services since the Dutch East India Company publicly issued its business in the 1600s,” said Arca CEO Ryan Steinberg …
He noted that the assets of the company’s flagship hedge fund have doubled every quarter of 2020.
Let us remind you that in September the company assessed the results of the Gnosis project as unsatisfactory and offered its team to return the money to investors.
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