Leading Digital Asset Platform for Trading, Borrowing and Earning
Crypto Offers Tailored Asset Management Solutions to Investors
MOUNTAIN VIEW, Calif., April 05, 2022--(BUSINESS WIRE)--Abra, a leading crypto wealth management platform, today announced the launch of its asset management strategy, Abra Capital Management ("ACM"). Through ACM, Abra’s clients can access actively managed, structured products and investment funds in addition to Abra’s best-in-class buying, trading, and borrowing services. ACM will be led by digital asset investing veteran Marissa Kim, a general partner in Abra’s new ACM division, Justin McMahan, Abra’s CFO, and Bill Barhydt, who will be serving as ACM’s chief investment officer and general partner in addition to his existing roles as Abra’s founder and chief executive officer.
ACM is launching with plans for five funds. Three of those funds will target yield-generating opportunities in the crypto space for stablecoins, bitcoin and ethereum, and the two additional funds will target early stage token and equity investment opportunities.
Through ACM, Abra will provide high-net worth clients and institutions with unique access to the digital asset ecosystem. ACM will feature bespoke venture funds that provide exposure to early-stage Web3 protocols and companies, with a focus on the Web3 decentralized computing stack as well as DeFi and liquid token strategies. As operators, investors, and early innovators in the cryptocurrency space, Mr. Barhydt and the Abra team have a unique understanding of what it takes to build successful companies in this space.
ACM offers strategic capital to many early Web3 projects since Abra can accelerate many of its DeFi strategies (Abra uses DeFi in Abra Earn) as well as through access to retail and content distribution. ACM will complement Abra’s high-yield services by offering investors a wider variety of ways to gain exposure to one of the fastest-growing asset classes.
"As investor appetite for access to the emerging digital asset economy has skyrocketed, so has the demand for solutions that can help them diversify their exposure and invest in high-growth, yet relatively inaccessible, vehicles. Most exchanges and crypto platforms are limited in the solutions they can offer," said Bill Barhydt, Abra’s founder and chief executive officer. "Abra Capital Management was created to fill this gap and help high net worth investors easily and efficiently invest in structured vehicles across the entire digital asset landscape. This is a milestone for our company, our customers, and the industry at large, and we look forward to working with investors to take advantage of the tremendous opportunity in this space."
Marissa Kim recently joined ACM as general partner. Previously, Ms. Kim was a founder at Quantum Global Management, an investment firm focused on thematic investments in the Web3 space. Ms. Kim began working in the cryptocurrency investing space in 2017 and has been an early investor and advisor to many Web3 projects. She started her career as a lawyer in investment management at Skadden, Arps, Slate, Meagher, and Flom LLP, where she worked closely with BlackRock and many other big asset managers, and has also held senior roles at several consumer technology start-ups.
"Abra is the premier, full-service digital asset service provider, which made my decision to join the team and help lead Abra Capital Management an easy one," said Ms. Kim. "I am thrilled to be part of an incredibly unique and differentiated platform and look forward to working with Bill and the Abra team to further the firm’s goal of becoming the number one destination for every type of cryptocurrency investor."
ACM’s launch comes on the heels of Abra’s $55 million funding announcement in September 2021. It also follows a year of tremendous growth for the firm. In 2021 alone, Abra launched the Abra Perx Rewards Program, which offers Abra users unique access to a new utility token, Crypto Perx (CPRX); grew its active number of users by over 300%; and saw transaction volume rise by over 660%.
ACM is currently open to all Abra investors and clients with a minimum investment size of $250,000.
Abra is a leading crypto wealth management platform. The company’s vision is to help create an open, global financial system that is easily accessible to everyone. Founded in 2014 by Bill Barhydt, Abra’s hundreds of thousands of users earn high yield on their crypto assets, trade over 100 different cryptocurrencies and borrow dollars against crypto holdings. Abra has processed over $1 billion in crypto-backed loans and has paid millions of dollars in interest payments to retail and institutional clients alike. Abra’s investors include American Express, Blockchain Capital, Ignia, Digital Currency Group, HCM Capital, and Pantera Capital, among others. For more information, please visit www.abra.com.
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