Argo Blockchain Takes 25% Stake in $40M Crypto VC Fund

Crypto venture capital firm Pluto Digital Assets has raised a $40 million fund with U.K.-listed Argo Blockchain (LON: ARB) as its lead investor.

In an announcement Wednesday, Pluto said it now has $50 million in assets under management after launching earlier this year. Argo Blockchain will be maintaining a 25% stake in the new fund with an investment of $10 million.
Pluto's fundraising effort was and joined by two other publicly traded firms: Pires Investments Plc (LON: PIRI) and Riverfort Global Opportunities Plc (LON: RGO).
Pluto will use the funds for "incubating projects, taking equity positions and holding strategic and treasury positions in digital assets," the firm said in a press release.
According to Pluto's website, the London-based firm holds positions in BTC, ETH, AAVE, DOT, KSM and LINK, along with a number of startup investments.

Disclosure

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.