Brazil’s Popular Asset Manager Raises $26M in Funding

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Hashdex, one of the largest asset managers in Brazil, whose headquarters are in Rio de Janeiro, has just announced it has attracted as much as $26 million in its latest fundraising, Bloomberg has reported.

The company, that has more than 4 billion Brazilian real ($765 million) in assets under management, has received funds from venture capital firm Valor Capital Group, Coinbase Venture and SoftBank.

In particular, the company has reported that it has raised $26-million that will be used to continue the international expansion of the business, which include opening around 75 offices in different parts of the world before the end of 2021.

In addition, Hashdex will also make use of the funds to increase its crypto offer. It must be noted that Hashdex is already familiar with cryptocurrencies, as the company partnered with US stock exchange Nasdaq in September last year to launch a crypto exchange traded-fund in Bermuda.

In addition, Hashdex also issues cryptocurrency ETFs in Brazil after receiving the green light from the regulator back in March to launch a composite cryptocurrency ETF product that tracks the NCI.