- Digital Assets Data — a fintech and data company focused on the cryptoasset industry — has raised $3.2 million led by North Island
Digital Assets Data — a fintech and data company that is focused on the cryptoasset industry founded by Mike Alfred (CEO), Eddie Alfred, and Jason Yates (CTO) — has closed its first equity funding round of $3.2 million led by North Island (the investment firm launched by prominent technology investor and Silver Lake co-founder Glenn Hutchins and his son James Hutchins).
Following the launch of the Digital Assets Data platform with a $6 million raise in its seed round earlier this year, this new capital injection is an extension to the seed foundation and brings the total funds raised by the company to $9.2 million.
This equity round also included investments from leading investment firms including Ikigai Asset Management, Morgan Creek Digital, Amidst Capital, CMT Digital, Vestigo Ventures, and Digital Currency Group.
The Digital Assets Data platform provides asset managers and other market participants with customizable and sophisticated tools to review and analyze cryptoasset on-chain, market, reference, and customer data from a multitude of sources. The platform — which launched in March — helps clients compound their knowledge about the digital asset space and build any model, analytic, heuristic, or signal as code.
While Glenn Hutchins is best known as the co-founder and former co-CEO of Silver Lake, he is also currently the chairman of North Island, co-owner of the Boston Celtics, and sits on the board of directors of the Federal Reserve Bank of New York, AT&T, and Digital Currency Group.
North Island focuses on private equity transactions in the technology industry and has been investing in the crypto-asset ecosystem for more than five years. For example, North Island led a $750 million PIPE investment into Virtu in 2017 and it holds one of the broadest crypto-asset portfolios in the world.
In conjunction with this funding round, James Hutchins is joining Digital Assets Data’s board of directors at the close of the transaction. James Hutchins was previously the Head of Research at Coatue Management.
“We have been investing in crypto-assets and their surrounding ecosystem for five-plus years. We have always believed that one of the key missing pieces of infrastructure was a premier data platform. Data is the heart of any investment process and without an institutional-quality data platform, it is very difficult to allocate significant resources to any asset class. Digital Assets Data has built a full-stack, institutional-quality data platform that is capable of serving all types of market participants – from data scientists, to quant funds, hedge funds, banks, venture capital funds, and more. We believe that the combination of full-stack flexibility and high-quality data sets differentiate Digital Assets Data from all other providers. We are incredibly excited to partner with the Digital Assets Data team,” said James Hutchins.
Ikigai is considered a cryptoasset hedge fund with an experienced team and a strong institutional orientation. And Ikigai has been an engaged early user of the Digital Assets Data platform.
“Digital Assets Data is our first venture investment at Ikigai, and a fitting one at that. As a large consumer of crypto data, we have trialed many data service providers, and believe Digital Assets Data is providing a compelling solution to the complicated problem of ingesting clean, granular crypto data in an easily analyzable format. Additionally, we want to back top-tier leadership teams, and Digital Assets Data has that in spades,” noted Ikigai’s Chief Investment Officer Travis Kling.
