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Goldman Sachs leads Elwood Technologies’ $70 million fundraising round

Elwood Technologies, a cryptocurrency company owned by Alan Howard, this morning announced a $70 million Series A round co-led by Goldman Sachs and Dawn Capital.

Elwood is a crypto-focused outreach and trading platform serving fintech companies, asset managers, and other institutional investors. They provide a wide range of services including connection to various trading points API through, execution, reporting and analysis.

Howard founded Elwood in 2018. Their initial orientation focused on building numbers solely to give investors exposure to blockchain and cryptocurrencies. Block was later revealed in June of that year, the business pivoting to focus on software.

James Stickland, CEO of Elwood Technologies, said in a statement that the company “was founded to meet the needs of organizations looking to secure exposure to digital assets.”

We once sang a new show on Elwood’s show and continue to expand our capabilities, enabling our institutional clients. I give users better access to digital assets,” he added.

Mathew McDermott, global head of digital assets at Goldman Sachs, said in a statement: “As institutional demand for crypto has increased, we have actively expanded our online presence. the truong and the can may of themselves to meet the needs of customers. ”

In addition to top investors Goldman and Dawn, the Series A round also included participation from Barclays, BlockFi Ventures, Chimera Ventures, CommerzVentures, Digital Currency Group, Flow Traders and Galaxy Digital Ventures.

The company will use the cash to expand its products and go international.

Howard, the former CEO of the Brevan Howard fund, is a shareholder of Elwood. Since the end of 2020, Howard has invested heavily in the crypto space, supporting merchandise startups and established businesses. He launched BH Digital, a crypto-focused division of the hedge fund he founded earlier this year.

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