Pantera Capital and Yale’s Paradigm Make Strategic Investment into Tagomi Crypto Broker
Pantera Capital and Paradigm have invested in the cryptocurrency broker Tagomi. The information was recently released by Tagomi, informs The Block.
This company offers execution services for crypto-related investors. The CEO is the former head of electronic trading at Goldman Sachs. Moreover, the firm’s co-CEO is Jennifer Campbell that previously worked at Union Square Ventures.
This is not the first funding received by the firm. Indeed, in the past, it participated in a $16 million round that included investments from Digital Currency Group and SV Angel, among others. In this way, Tagomi received a total of $28 million.
Pantera CEO Dan Morehead commented in a recent statement:
“We view development of an electronic agency offering as a critical step in empowering funds like Pantera to have complete control and anonymity when transacting in digital assets. We believe it is a key component to carrying out our fiduciary duty in achieving best execution for our fund.”
With these funds, the company will be able to scale and reach a larger number of clients. Users will have tools to trade across the cryptocurrency market in an electronic way. Tagomi allows clients to find the best way to make a specific trade based on the data the company has. It is also possible for a trade to be executed in just a platform or a combination of them. The goal is to achieve the best deal with the lowest impact on the market.
The investment officer of Four Arrows said in a statement that Tagomi could solve some of the challenges that institutional investors currently face at the time of investing in the crypto market.
Although the market has been waiting for institutions to start investing in virtual currencies, there were several barriers for them to place their funds in the space. The necessary infrastructure for companies was not established and firms started to create new platforms and adapt them for larger investors to increase their trust in the crypto market.