Arrington XRP Capital acquires crypto-focused private fund ByteSize Capital
Thu, 28 Mar 2019, 10:55 am UTC
Digital asset management firm Arrington XRP Capital has merged with another crypto-focused fund, ByteSize Capital.
Back in November 2017, TechCrunch founder Michael Arrington announced the launch of Arrington XRP Capital which, he said, would invest in a wide variety of cryptocurrency assets and related technologies.
CoinDesk reported that Arrington XRP Capital received $30 million from one of its largest limited partners, which helped it to acquire ByteSize Capital. Arrington said that with the fresh investment, the fund has exceeded its initial target of $100 million.
With this acquisition, ByteSize Capital partners Ninor Mansor and Ninos Mansor have joined Arrington XRP Capital as partners.
“As part of the merger, Arrington XRP Capital will onboard ByteSize’s proprietary investing suite,” the announcement said referring to ByteSize’s set of tools for navigating the crypto markets, including systems for data ingestion and quantitative backtesting, which will be incorporated into Arrington XRP Capital’s existing investment framework.
Arrington XRP Capital said that the merger strengthens its “barbell approach.” CoinDesk explained that the barbell approach is particularly designed for an uncertain market, where venture investments are balanced by crypto trading.
“We are seeing a new market,” Arrington said. “It’s not 2017. It’s not 2018. Funds like ours will continue to find ways to make money in markets that are unpredictable.”
<Copyright © TokenPost. All Rights Reserved. >