SoftBank Group Corp. and Coinbase Global Inc. are some of the investors for Brazilian cryptocurrency money management company Hashdex that raised $26 million in new funding.
Hashdex, which was created in 2018 by former Microsoft Corp. executives Marcelo Sampaio and Bruno Caratori, recently launched Hashdex Nasdaq Crypto Index Fundo de Indice, Brazil’s first crypto exchange-traded fund. The company is headquartered in Rio de Janeiro and manages around 4 billion reais.
The majority of the funds came from Valor Capital Group, with SoftBank and Coinbase Ventures, an arm of the world’s largest cryptocurrency exchange, also participating, according to Hashdex Gestora de Recursos Ltda. Igah Ventures, Globo Ventures, and Canary, all from Brazil, were among the others.
“Investors are still learning about cryptocurrency, and we see potential to sell more products in Brazil,” said Hashdex CEO Sampaio in an interview.
The firm is planning on opening new offices out of Brazil, and adding about 75 new members to their staff of 25 employees by the end of this year, says Sampaio.
About the company
Hashdex ltd. is a leading crypto-focused asset manager that makes crypto investing safe and open to investors of all types. Hashdex is Latin America’s largest crypto asset manager, with over $500 million (R$ 2 billion) in assets under management, and obtained approval in September 2020 to launch the world’s first cryptocurrency ETF, the Hashdex Nasdaq Crypto Index ETF. The commodity is traded on the Bermuda Stock Exchange (BSX), a conventional market for the trading of funds and structured goods.