Blockchain Firm AlphaPoint Secures $15M USD Investment From Novogratz’s Galaxy Digital

Announcements, Investing, News | June 15, 2018 By:

Blockchain firm AlphaPoint has raised $15 million in its Series A funding round. The funds was raised from Galaxy Digital Ventures, a venture investment firm founded by Michael Novogratz.

AlphaPoint is a global financial technology company helping institutions make illiquid assets liquid. Through its secure, scalable, and customizable distributed ledger platform, the company enables customers to digitize assets, as well as launch and operate markets. AlphaPoint’s technology is already used by major institutions such as CME Group, The Royal Mint, London Block Exchange (LBX), and Bitt.

AlphaPoint will use the funds to double the size of its team by the end of this year. As part of the investment, Greg Wasserman, Galaxy Digital Ventures Managing Director, will join AlphaPoint’s Board of Directors.

“The market opportunity for digitizing illiquid assets is tremendous,” said Wasserman. “Consumers are demanding increased access, transparency and trust. Businesses are seeking increased liquidity with reduced fraud, risk and cost. Executing on this market opportunity requires proven best-in-class technology alongside seasoned management teams with substantial experience providing new technology to a variety of financial institutions. AlphaPoint brings this rare combination together and I look forward to working with them.”

Galaxy Digital was announced and launched earlier this year by billionaire investor Michael Novogratz, who aims to turn the company into what he calls an institutional-quality merchant banking business in cryptocurrency and blockchain.

“We are in the early stages of a fundamental transformation in financial markets due to the digitization of assets,” Novogratz said. “This transformation started with currencies but is now changing the way we look at commodities, real estate, art, and other traditional and emerging asset classes. We are excited to partner with AlphaPoint as we continue to help drive this revolutionary change in digital markets.”

The AlphaPoint team comes from a background in capital markets with combined experience from major institutions such as Bloomberg, Barclays, BlackRock, Deutsche Bank, Morgan Stanley, Nasdaq, NYSE, Susquehanna, and UBS. AlphaPoint claims to help power secure exchanges and digital asset networks with a processing capacity of nearly one million transactions per second.

“We are delighted to have Galaxy Digital Ventures as a strategic investor who shares our vision to unlock the value of illiquid assets for a wider audience of investors and traders,” said Salil Donde, AlphaPoint Chief Executive Officer. “This investment allows us to continue our focus on our customers’ success.”

Last month, AlphaPoint partnered with private equity real estate investment firm Muirfield Investment Partners to offer investors a new way to invest in and gain exposure to US real estate. Under the partnership, Muirfield will utilize AlphaPoint’s newly launched Regulated Asset Backed TokenTM (RABT) framework to offer its investors a more easily tradeable way to participate in the property market.