Blockhouse Digital, an asset management firm specializing in collateralized lending and yield-generating strategies in the crypto markets, is pleased to announce the successful completion of a $2 million seed GP funding round. This round included investments from strategic partners such as Blockhouse Digital’s institutional OTC partner BlockFills, with significant contributions from various angel and VC investors.
The funding will fuel the launch of Blockhouse Digital’s specialized financial products and services, which are designed to serve institutional investors, borrowers, and lenders.
“There is a lack of available credit to crypto infrastructure providers and traders,” said Young Cho, CEO & Co-CIO of Blockhouse Digital, who is the former CIO of Abra, CFO of Hedera, and CFO of AltLending. “At the same time, borrowing demand is growing, especially among Bitcoin miners as the Bitcoin halving approaches in Q2 2024, and miners prepare to increase capex spending and take advantage of cheap ASIC prices.”
“OTC and principal trading firms are seeking credit facilities for capital to fill orders for their clients and provide market-making services to improve market liquidity,” stated Randy Song, Co-Founder & Chief Business Development Officer of Blockhouse Digital, who is the former Head of Global Institutional Sales for Abra. “Due to this imbalance of supply and demand in the crypto credit markets, we believe this is an opportune time to launch a fund focused on lending in the crypto space.”
“The strategic partnership between BlockFills and Blockhouse Digital truly utilizes the experience, expertise, and core competencies of both companies to enhance the product and service offerings for our collective institutional clients,” stated Nick Hammer, CEO of BlockFills. “Our joint efforts will allow us to add a substantial amount of liquidity and innovative credit products to better serve clients within our ecosystem as we see an unprecedented demand for credit. Additionally, Blockhouse will leverage BlockFills’ technological capabilities, liquidity, and connectivity for OTC trading to create a best-in-class trading experience for the fund and their client network”.
The firm is led by a team of financial industry veterans with extensive experience in both traditional and crypto asset management, including stints at prestigious firms such as Citigroup, UBS, Morgan Stanley, AQR Capital, Hedera, Abra, Talos, Oaktree Capital, and JPMorgan. The firm’s approach to investing is characterized by a strong emphasis on risk management and regulatory compliance, ensuring the highest standards of security and transparency for its clients. Anthony Merriman joins as Co-CIO, Darren Yarwood joins as Head of Operations, and Tyler Adkison joins as Director of Business Development.
The newly secured funds will be used to launch Blockhouse Digital’s technology infrastructure, expand its product offerings, and strengthen its market position as a leader in crypto asset management. The firm is committed to leveraging its expertise to provide innovative solutions that generate sustainable returns for its clients while navigating the complexities of the digital asset landscape.
For more information about Blockhouse Digital and its services, please visit https://www.blockhouse.digital/
About Blockhouse Digital
Blockhouse Digital is an asset management firm specializing in collateralized lending and yield-generating strategies in the crypto markets. Led by a team of financial industry veterans with a wealth of experience in both traditional and crypto asset management, Blockhouse Digital is dedicated to delivering risk-managed, regulatory-compliant investment solutions to its clients.
