Pluto Digital Assets, the London-based crypto VC and tech company, has secured c.$40 million (approx £29 million) in the latest funding round.
The round was led by Argo Blockchain Plc, who will be maintaining their c.25% stake with an investment of approx. $10 million (approx £7.1 million).
Other investors including two other publicly traded companies, Pires Investments Plc and Riverfort Global Opportunities Plc also participated in the round. The company has surpassed $50 million (approx £35.9 million) total assets under management within just 50 days of being established.
Crypto VC
Pluto Digital Assets is a crypto VC and technology company that connects Web 3.0 decentralised technologies to the global economy.
The company invests in incubates and advises digital asset projects based on decentralised technologies (DeTech), decentralised finance (DeFi), and networks such as Ethereum and Polkadot.
Engaged in NFT
On the other hand, Pluto is also engaged in the non-fungible token (“NFT”) collectibles market and is actively curating a private collection, with the first pieces to be unveiled shortly.
Furthermore, Pluto will generate income from its operational activities of running nodes, mining, staking, liquidity provision, and via its engagement with other DeFi protocols.
Pluto Director, Atif Yaqub commented: “This is a period of unprecedented opportunity to fill a void in the London markets, bringing a blend of traditional and crypto venture. We are delighted with the results of the fundraising which was heavily oversubscribed and thank our existing shareholders for their support and welcome our new investors. The funds give us the firepower for an aggressive push to become a leader in decentralised technology investment. We’re already engaged with an epic constellation of projects in the digital assets space and look forward to helping them bring their vision to fruition.”