Sebastian Sinclair

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 <ul>
 <li>Funding from the $70 million Series A will go toward expanding its suite of products as well as its global operations</li>
 <li>The list of investors included a mix of both traditional and crypto-native firms, marking another instance of a convergence between mainstream and digital assets</li>
 </ul>
 
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Digital assets trading infrastructure firm Elwood Capital said Monday it had raised a hefty sum in fresh capital from some of the world&#8217;s largest financial institutions.



Dawn Capital, Europe&#8217;s &#8220;largest&#8221; B2B venture capital firm by total assets under management ($1.5bn) and global banking giant Goldman Sachs co-led the $70 million Series A funding round, according to a <a href="https://www.prnewswire.com/news-releases/elwood-technologies-closes-70m-series-a-co-led-by-goldman-sachs-and-dawn-capital-301542867.html" target="_blank" rel="noreferrer noopener">press release</a>.



Barclays, BlockFi Ventures, Chimera Ventures, CommerzVentures, Digital Currency Group, Flow Traders&nbsp;and Galaxy Digital Ventures also participated in the round.



Funding from the round will go toward expanding Elwood&#8217;s product offerings and its global operations. Elwood&#8217;s platform offers clients access to an order execution management system as part of its crypto infrastructure suite of products.



A portfolio management system and access to market data as well as analytics also form a major part of the company&#8217;s offerings to institutional clients.



The list of investors participating in the round represents an intersection of traditional and crypto-native firms despite the industry&#8217;s <a href="https://cms.blockworks.co/terra-halted-again-exchanges-delist-spot-trading/" target="_blank" rel="noreferrer noopener">recent market turmoil</a>.



&#8220;The rich mix of investors participating in this raise reaffirms the movement of financial institutions working closely with their native digital asset technology providers,&#8221; Elwood&#8217;s CEO James Stickland said. &#8220;Together, we aim to provide broader mass market involvement in digital assets and cryptocurrency.&#8221;



Indeed, <a href="https://cms.blockworks.co/framework-ventures-launches-400m-defi-fund/" target="_blank" rel="noreferrer noopener">investment</a> from outside capital <a href="https://cms.blockworks.co/pantera-capitals-blockchain-fund-has-1b-in-commitments/" target="_blank" rel="noreferrer noopener">continues to flow</a> into startups and businesses in a bid to capitalize on the growth of promising technological and financial innovations.



&#8220;Our investment in Elwood was a natural fit given the business&#8217;s cutting-edge technology, experienced team and significant market opportunity,&#8221; Dawn Capital general partner Josh Bell said in the release. &#8220;Now is an important moment in Elwood&#8217;s evolution as its technology moves to the mainstream.&#8221;



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