- Deus X Capital has announced the launch of its crypto investment firm.
- The crypto-focused firm’s investment is worth $1 billion.
- Red Acre investments now sit under the Deus X brand.
New Crypto Investment Firm Launches with $1 Billion in Capital and Assets
Deus X Capital, a new crypto investment firm, launched on Monday.
According to the statement released by the firm, Deus X Capital has amassed $1 billion in investment assets and capital. The CEO, Tim Grant, a former executive at Galaxy Digital, stated that the money would be deployed in venture capital, private equity, venture building, and fund allocation.
“The existing financial system is expensive, unwieldy, and works for the few, not the many. We are committed to investing in and building the most innovative digital asset, fintech, and capital markets businesses, constructing a complementary portfolio of companies that can contribute to creating a new financial system that removes silos, lowers barriers to entry, and can create better outcomes for everyone,” The CEO of Deus X Capital, Tim Grant, revealed in a statement.
Tim Grant, the CEO of the newly founded crypto investment firm Deus X Capital, possesses a remarkable history of business management; his former roles attest to this. He was formerly the Head of EMEA at Galaxy Digital. Before joining Deus X Capital, he was the CEO of Six Digital Exchange, a tokenization project owned by a giant Swiss finance group.
Tim Grant also worked at UBS, an international trade finance company, and was the CEO of R3 Lab and Research Centre.
In addition to his role as the chief executive officer of Deus X, he is also the chairman of AlphaLab40, a crypto maker owned and managed by Deus X.
AlphaLab40 will be Deus X’s first incubation project
The statement revealed that Stuart Conolly, founder of AlphaLabs40, has been appointed the chief investment officer. Connolly ran Rec Acre Ventures for three years before his new role at Deus X. Red Acre Ventures is a private investment arm of Red Acre Group. According to the announcement, all of Red Acre’s investments now sit under the Deus X brand.
Deus X Capital’s current investment portfolio includes Netrios, which it owns, with stakes in asset management firm Hilbert Group and Galaxy, a crypto financial services platform. The investment firm’s portfolio also includes SEBA, HAYVN, and Cryptochill. Deus revealed that the firm has allocated capital to several hedge funds in the crypto space.
Deus X Capital is a global investment firm with a presence in the UAE, Malta, and London, the announcement stated.
The State of Crypto Investments in 2023
Despite the long-standing crypto winter contributing to the crypto venture funding decline this year, the crypto industry still garners support. Several crypto-focused investment firms have continued supporting builders in the space. In September, over five crypto-focused investment funds were launched to support crypto startups.
Last month, Bitget, a leading crypto derivatives exchange, launched a $100 million fund to support diverse services in the ecosystem.
Hashkey Capital also launched a crypto fund to support the crypto space.