Dawn of the Crypto Infrastructure

Market Meditations | May 17, 2022

On Monday, Elwood Capital said that they had raised $70 million for their digital asset trading infrastructure.

  • One of Europe’s largest B2B venture capital firms [by total assets under management – $1.5 billion], Dawn Capital, and Goldman Sachs just led a $70 million funding round.
  • This funding is going toward expanding Elwood’s product offerings and global operations (e.g., building their crypto infrastructure).
  • Elwood CEO James Stickland said that “The rich mix of investors participating in [the] raise reaffirms the movement of financial institutions working closely with their native digital asset technology providers.”

But I thought crypto was in a state of no return? 

Many companies realize the opportunity that they currently have. Dawn capital general partner, Josh Bell, said, “Our investment in Elwood was a natural fit given the business’s cutting-edge technology, experienced team and significant market opportunity.”