Cambrian Asset Management, Inc., a Mill Valley, Calif.-based quantitative investment firm specializing in digital assets, closed a $4.2m seed equity round.
The seed equity round, increased from an original target of $3m, was led by Howard Morgan, co-founder of Renaissance Technologies and First Round Capital; Tano Capital, the family office of the founding family of Franklin Templeton Investments; Dennis Phelps, General Partner, IVP; and Kevin Ryan, co-founder, MongoDB & Business Insider. Other equity investors in the round include current or former senior principals from Airbnb, BNP Paribas, The Carlyle Group, DRW & RGM Advisors, Fastly, First Round Capital, Founders Circle Capital, Goldman Sachs, Google, Instagram, Microsoft, Pinterest, SAC Capital, Standard Pacific Capital, Tata Capital, UBS, Winton Capital, as well as unnamed angel investors.
Funds from the equity raise will be used for technology infrastructure, operations, and research and development.
Formed in 2017 and led by Co-CIO & CEO Martin Green, Co-CIO & CFO Jay Posner, and P. Daniel Tyreus, PhD, Head of Engineering, Cambrian Asset Management is a digital asset investment firm which employs a quantitative, data drive approach to generate risk adjusted returns uncorrelated to other asset classes. The firm focuses on trading liquid digital assets, including Bitcoin and Ether. The equity fundraise follows three years of research, development, and testing of the firm’s investment strategy.