Arca, a Los Angeles, CA-based asset management firm focused on investing and innovating in the digital assets space, closed a $10m Series A round of funding.
The round was led by RRE Ventures with participation from Alex Tisch, President of Loews Hotels & Co. and a coalition of top financiers led by Littlebanc Advisors. James Robinson, Founder and General Partner of RRE will join Arca’s advisory board.
The company intends to use the funds to expand product development and distribution efforts.
Founded in 2018 by CEO Rayne Steinberg, Arca is an asset management firm focused on investing and innovating in the digital assets space. Its products offer investors the ability to invest in digital assets utilizing blockchain technology. Arca is composed of two core business divisions:
- Arca Funds, whose flagship hedge fund strategy, the Arca Digital Assets Fund, invests in securities via tokens, equities, bonds and other instruments issued by companies in the digital asset ecosystem; and
- Arca Labs, the innovation division of Arca, which pioneers innovative products in a digital structure that aim to revolutionize how people think about investments.