PANews reported on December 11 that according to The Block, digital asset holding company COSIMO announced that it is raising $25 million in funding, led by Des Mac Intyre, co-founder of Eolas Capital and former executive of Bridgewater Associates. COSIMO announced in a statement that the financing aims to integrate its many cryptocurrency investment, custody, consulting and brokerage services into "a unified and forward-looking brand."
According to reports, the company will be called COSIMO digital in the future. In the past ten years since its establishment, COSIMO has expanded into multiple cryptocurrency sub-fields and aims to become a strong competitor to Galaxy Digital, a cryptocurrency management and service provider. However, COSIMO has operations in both the United States and Europe. In the early days of the company, COSIMO used a special purpose vehicle (SPV) to invest in start-up cryptocurrency companies in 2014 and expanded into cryptocurrency venture capital in 2017. The COSIMO X fund, launched in 2019, currently manages approximately $21 million in assets. The company also launched COSIMO Y, a hedge fund built around a basket of staking rewards for blockchains such as Avalanche, Cardano, Celestia, Ethereum, Near, Polkadot and Solana. In addition, COSIMO also founded Fortuna, a digital asset custody company licensed by the Central Bank of Ireland to operate in 27 EU countries.
