Australian digital asset fund manager DigitalX has successfully completed a capital raise of A$20.7 million.
The funds will support the company’s strategy of increasing its direct Bitcoin holdings, with approximately A$12.8 million allocated towards operational expenses and working capital requirements.
Strategic investments came from notable firms including Animoca Brands, UTXO Management, and ParaFi Capital. These investors are providing not only capital but also strategic expertise to the fund.
Concurrently, DigitalX has strengthened its governance by appointing two prominent figures to its advisory board: Animoca Brands Co-Founder and Executive Chairman Yat Siu, and Web3 expert and Hivemind Capital advisor Hervé Larren.
The move reinforces DigitalX’s position as the leading Bitcoin-focused fund manager listed on the Australian Securities Exchange (ASX). It aligns with a broader trend of institutional investors and corporations, such as MicroStrategy and Metaplanet, holding Bitcoin directly on their balance sheets.
This capital injection and strategic hiring solidify the company’s commitment to managing cryptocurrency assets within a regulated exchange framework.