Nomura-backed institutional crypto custodian Komainu has raised $25 million in Series A funding.
The round was led by hedge fund veteran Alan Howard, who also owns crypto-asset manager Elwood Asset Management. Additional participants in the round included Galaxy Digital, NOIA Capital, and Nomura Research Institute.
Established in 2018, Komainu is a joint venture between three firms: Nomura, Ledger, and CoinShares. All three firms also contributed to Series A.
With fresh capital at hand, Saint Helier, Jersey-based Komainu plans to expand globally, support additional assets, and provide services to prime brokerages.
Komainu was launched in June 2020 and currently holds over $3 billion in assets under custody on behalf of institutional investors, including asset managers, corporations, and government agencies.
The Series A comes amid a rally in bitcoin's price as more institutions are investing in the world's first and largest cryptocurrency. Bitcoin is currently trading at around $54,200, according to TradingView.
Hedge fund manager Howard appears to be on a crypto-investing spree. The British billionaire has recently backed several startups in the space, including One River Digital Asset Management and bitcoin payments app Bottlepay.