Alan Howard, a British billionaire, has not been put off by the recent downtrend in the crypto market. He is still investing in space.
The 58-year-old took part in a $10.3 million pre-seed round, for crypto brand studio ScienceMagic.Studios, in mi-June following the Terra collapse. He also took part in the play-to-earn metaverse startup Atmos Labs’ $11 million seed round. Howard, so far in 2022, has funded 13 crypto-related projects. The majority were before the downtrend picked up pace in the crypto market.
The billionaire is backing projects for crypto exchanges like FTX and Bitpanda, Ledn, Polygon, and Block.one. Howard’s hedge fund firm Brevan Howard has invested his personal wealth into digital assets for several years. In March, he bought cryptocurrencies to protect against inflation. It is unclear as to which asset and how much of it he purchased.
With the ongoing high risks in the crypto market, Howard wants to involve in every sub-segment of the crypto industry. Some key names in his crypto portfolio, according to the Financial Times, are trading-software firm Elwood, startup incubator WebN Group and Coremont. Last year, he is said to have invested in Bottlepay, a fintech firm, crypto exchange Bullish and custody startup Komainu among others.
Sources say Howard has a 10 to 15-year vision. He waded deeper into the sector when everyone ran out, that is, during the 2018 crypto crash. Furthermore, his company Brevan Howard is making a massive push into crypto.