Cambrian Asset Management announced Thursday the close of a seed equity round with $4.2 million, significantly oversubscribed from its original target of $3 million.
The quantitative investment firm said lead investors included Renaissance Technologies and First Round Capital Co-founder Howard Morgan, The Carlyle Group, Tano Capital -- the family office of the founding family of Franklin Templeton Investments -- and technology giants including Google, Instagram, Microsoft, Pinterest and Airbnb.
Mill Valley, California-based Cambrian, which focuses on trading liquid digital assets such as Bitcoin and Ether, expects to use the equity raise proceeds to boost . . .
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