Coindesk Logo

IOHK Invests Six-Figure Sum Into Crypto Asset Manager Wave Financial

IOHK Invests Six-Figure Sum Into Crypto Asset Manager Wave Financial

IOHK Invests Six-Figure Sum Into Crypto Asset Manager Wave Financial

Charles Hoskinson, IOHK's CEO, will become an adviser to Wave Financial as part of the deal.

Charles Hoskinson, IOHK's CEO, will become an adviser to Wave Financial as part of the deal.

Charles Hoskinson, IOHK's CEO, will become an adviser to Wave Financial as part of the deal.

AccessTimeIconJul 6, 2020, 8:49 AM
Updated May 15, 2023, 1:31 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Cardano developer house IOHK has made a six-figure investment into Wave Financial, its partner for a new $20 million Cardano fund.

  • An IOHK spokesperson confirmed the investment had just been made, but declined to comment on the equity arrangement and any plans to make further commits into Wave.
  • CoinDesk understands the sum isn't big enough for IOHK, a Hong Kong-based company, to have significant sway over Wave's corporate governance.
  • Charles Hoskinson, IOHK's CEO, will become an advisor to Wave Financial as part of the deal.
  • IOHK invested $10 million into a joint "cFund" to support startups and early-stage businesses working on Cardano and other IOHK tech initiatives last week.
  • Wave Financial, a private company based in Los Angeles and London, said it would raise the other $10 million from external investors.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.