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Argo Blockchain Takes 25% Stake in $40M Crypto VC Fund
The publicly listed bitcoin mining firm is investing $10 million in Pluto Digital Assets' new fund.
Crypto venture capital firm Pluto Digital Assets has raised a $40 million fund with U.K.-listed Argo Blockchain (LON: ARB) as its lead investor.
STORY CONTINUES BELOW
- In an announcement Wednesday, Pluto said it now has $50 million in assets under management after launching earlier this year. Argo Blockchain will be maintaining a 25% stake in the new fund with an investment of $10 million.
- Pluto's fundraising effort was and joined by two other publicly traded firms: Pires Investments Plc (LON: PIRI) and Riverfort Global Opportunities Plc (LON: RGO).
- Pluto will use the funds for "incubating projects, taking equity positions and holding strategic and treasury positions in digital assets," the firm said in a press release.
- According to Pluto's websitehttps://plutodigitalassets.com/portfolio/, the London-based firm holds positions in BTC, ETH, AAVE, DOT, KSM and LINK, along with a number of startup investments.
Read more: Argo Blockchain Completes Land Purchase for Texas Crypto Mining Facility
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
