WebN Group Shuts Down as Alan Howard Remains Bullish on Blockchain and Digital Assets

WebN Group, the blockchain and Web3 incubator backed by billionaire hedge fund manager Alan Howard, is reportedly closing after several years of investing in digital infrastructure startups. According to a source familiar with the matter, the venture studio has “successfully completed its mission” and will wind down operations, marking the end of a notable chapter in crypto venture incubation.

Over the past few years, WebN Group seeded and supported a range of blockchain-focused companies. Its portfolio includes tokenization platform Libre, now rebranded as KAIO, crypto staking provider Twinstake, blockchain infrastructure firm TruFin, and zero-knowledge proof startup Geometry. The incubator also attracted outside capital, including an undisclosed investment in 2023 from Laser Digital, Nomura’s crypto partnership.

Despite the closure, sources indicate that the decision does not signal a retreat from digital assets by Alan Howard or his hedge fund, Brevan Howard. Several WebN staff members have reportedly transitioned to roles within Brevan Howard, reinforcing the firm’s continued interest in blockchain technology and Web3 innovation.

Brevan Howard’s crypto arm has faced volatility over the past year. Its digital asset fund reportedly declined nearly 30% last year, following strong gains of 52% in 2024 and 43% the previous year. Like many institutional investors navigating shifting crypto markets, the firm also reduced its exposure to bitcoin ETFs, cutting its holdings in BlackRock’s iShares Bitcoin Trust by approximately 85%, according to Bloomberg and CF Benchmarks data.

Leadership changes have also shaped Brevan Howard’s crypto strategy in 2025, including the departure of BH Digital CEO Gautam Sharma and the spinout of Nova, a hedge fund led by former Dragonfly investor Kevin Hu.

Sources close to the firm maintain that Brevan Howard remains bullish on blockchain technology, digital assets, and venture capital opportunities across the evolving crypto ecosystem, viewing recent market turbulence as temporary rather than structural.