Tuesday, November 29, 2022
HomeInsightFunding Alert Citi Ventures, Accel Invests $6 mn in xalts

[Funding alert] Citi Ventures, Accel Invests $6 mn in xalts

Citi Ventures and venture capital firm Accel invested $6 million in xalts on Friday. xalts is an institution-focused digital asset management and technology company created by former HSBC and Meta employees.

Citi Ventures and venture capital firm Accel invested $6 million in xalts on Friday. xalts is an institution-focused digital asset management and technology company created by former HSBC and Meta employees.

In addition, Sandeep Nailwal, a co-founder of Polygon, and hedge fund managers invested to the investment-grade digital asset management firm. The quantitative trading and investment firm AlphaGrep also supports xalts, as per reported by VCCircle.

Following this investment, xalts intends to create fund-based products, such as exchange-traded funds or mutual funds, that are connected to digital assets and listed on international platforms.

Read also – [Funding alert] Vanity Wagon Raises $2 mn in Pre-Series A Funding

“With xalts, we are building innovative, institutional-grade investment products and solutions which focus on high compliance and control standards—things institutional investors care about,” said Ashutosh Goyal, a former HSBC trader and the chief investment officer at xalts.

A new corporation managing digital investments, xalts was established in 2022 and has offices in Hong Kong, Singapore, Dubai, New Delhi, and Geneva.

“Apart from investors, we are also seeing a lot of interest from fund managers and issuers to use our platform to launch structured and fund products for their clients. We expect to build a team of 30 by the end of this year across our offices in Hong Kong, Singapore, Dubai and Geneva,” said Supreet Kaur, the chief operating officer and co-founder at xalts, discussing the firm’s near-term goals.

Read also – [Funding alert] AgeTech Startup Sarathi Healthcare raises Rs 1 Cr seed funding from ah! Ventures, others

In accordance with the press release, the digital asset management company is also creating a platform for structured products and repackaging that will allow institutions to issue structured notes with integrated crypto options.

About xalts

xalts is a global investment management and technology firm. They develop proprietary investment products, platforms and solutions for global institutions to access opportunities in the digital asset class in a secure and compliant manner.

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