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IOHK Invests Six-Figure Sum Into Crypto Asset Manager Wave Financial
Charles Hoskinson, IOHK's CEO, will become an adviser to Wave Financial as part of the deal.
Cardano developer house IOHK has made a six-figure investment into Wave Financial, its partner for a new $20 million Cardano fund.
STORY CONTINUES BELOW
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- An IOHK spokesperson confirmed the investment had just been made, but declined to comment on the equity arrangement and any plans to make further commits into Wave.
- CoinDesk understands the sum isn't big enough for IOHK, a Hong Kong-based company, to have significant sway over Wave's corporate governance.
- Charles Hoskinson, IOHK's CEO, will become an advisor to Wave Financial as part of the deal.
- IOHK invested $10 million into a joint "cFund" to support startups and early-stage businesses working on Cardano and other IOHK tech initiatives last week.
- Wave Financial, a private company based in Los Angeles and London, said it would raise the other $10 million from external investors.
See also: Coinbase Custody to Support Secure Cardano Staking This Year
Paddy Baker
Paddy Baker is a London-based cryptocurrency reporter. He was previously senior journalist at Crypto Briefing.
Paddy holds positions in BTC and ETH, as well as smaller amounts of LTC, ZIL, NEO, BNB and BSV.
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