Crypto asset manager NYDIG has raised $100 million from a single investor for its new fund — Digital Assets Fund II.
The detail was revealed in a form filed by NYDIG with the U.S. Securities and Exchange Commission on Tuesday. The new fund's strategy remains unclear, although NYDIG mainly invests in bitcoin and other digital assets.
The raise comes shortly after NYDIG netted $50 million for its Digital Assets Fund I in November. Fund I collected the amount from just two investors, and it reportedly only invests in bitcoin.
Given both funds' size and the limited number of investors, it appears that NYDIG is attracting investments from high net-worth institutional clients, possibly corporates and banks.
Founded in 2017, NYDIG is a subsidiary of Stone Ridge Holdings, an asset manager with more than $10 billion worth of assets. NYDIG itself manages $1 billion worth of assets across its suite of products, including custody, execution, and asset management. In October, NYDIG raised an additional $50 million in "growth equity funding" to expand its business.