Crypto News

Rothschild Investment Vehicle Downs on Crypto, Invests in Kraken

Source: A screenshot, Instagram / krakenfx

The Rothschild family has made another step into the world of crypto through their own RIT Capital Partners Venture – Formerly Rothschild Investment Trust.

It demonstrates this investment in a US-based crypto exchange powerhouse Kraken – was placed under the radar, and possibly completed earlier in the year.

A note to investors, written by James Glass, Director of Investment Companies Sales Numis Securities, And posted on RIT Capital’s website, claimed that “in the RIT Capital webinar last month,” “within private” RIT has revealed that it had “gained interest in Kraken.”

Glass made no mention of the size of the investment, but also noted that “Kraken is currently in talks with investors about another round of fundraising that could give it a valuation of USD 20 billion.”

RIT Capital, headquartered in the United Kingdom, had net assets around USD 5.3bn by the end of 2020. Per A financial report released last month.

The company was founded by Lord Jacob Rothschild.

However, this is not RIT’s first foray into crypto. At the end of last year, the firm joined the likes of Paypal In an investment in Paxos, A series C round price USD 142m.

In any case, the news will undoubtedly see Kraken’s plans in public, with his best efforts to make the rumor mill public.

As reported in late March, Kraken CEO Jessie Powell has claimed the company remains on track to go public next year “probably” in the “second half” of 2022.

However, he said that “there is no guarantee at this time,” commenting that “anything can happen in the crypto space.”

Powell said, at a time when the company did not need to raise funds to go public and “raising more capital at this point would only be about acquiring more.”

Regardless, in February, Kraken was in talks with investors to raise new funding, which could double its valuation to more than US $ 10 billion, though the final figure could double that “on a demand basis, according to Bloomberg At “close to the source case. Then, Allegiance to truth, Tribe capital, And General atlantic Mention was made among potential investors. Both Kraken and RIT have been contacted for comment on this story and will update that there will be an upcoming reply.

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