Goldman Sachs Invests in Alan Howard’s Elwood Technologies
Posted on 05/16/2022
London-based Elwood Technologies is a cryptocurrency trading platform founded by British hedge fund manager Alan Howard and Bin Ren. Alan Howard is the co-founder of Brevan Howard Asset Management. Bin Ren is the former CIO of the Systematic Investment Group at Brevan Howard Asset Management. Elwood Technologies had its own corporate structure that sits entirely outside the Brevan Howard Group. Alan Howard has no involvement in the day-to-day operations of Elwood Technologies.
Elwood Technologies raised US$ 70 million in a Series A round led by Goldman Sachs and Dawn Capital. The raise gives Elwood Technologies a US$ 500 million valuation from backers like Goldman Sachs, Barclays plc, Dawn Capital, Commerzbank AG, and Galaxy Digital.
Alan Howard set up Elwood Technologies in 2018. Elwood Technologies started out trying to build blockchain global equity indices. Invesco partnered with Elwood to launch an ETF in March 2019.
CoinShares acquired the Elwood Asset Management subsidiary (index business) from Elwood Capital Management in July 2021. The index name was changed from Elwood Blockchain Global Equity Index to CoinShares Blockchain Global Equity Index on Oct 15, 2021. CoinShares is one of Europe’s largest digital asset investment firms.
BH Digital
Alan Howard created BH Digital, a crypto-focused division of the hedge fund he founded, earlier in 2022.