Coinbase, SoftBank Back $26M Funding for Brazilian Crypto Asset Manager Hashdex

Hashdex, a Brazilian crypto asset manager, has raised $26 million in investments.

  • Venture capital firm Valor Capital Group led the funding, with SoftBank, Coinbase Ventures and other local investors also participating, Bloomberg reported Wednesday.
  • The Rio de Janeiro-based company, founded in 2018, has about 4 billion reais (almost $76 million) in assets under management.
  • “Investors are still getting to know crypto, and we see room to offer more products in Brazil,” Hashdex CEO and former Microsoft executive Marcelo Sampaio told Bloomberg.
  • Hashdex plans to expand beyond Brazil and boost its staff from 25 to as many as 100 by the end of this year.
  • The firm recently launched a crypto index fund, the Hashdex Nasdaq Crypto Index Fundo de Indice.