Off the heels of its $30 million Series B funding round, BlockFi has brought on Three Arrows Capital as an investor to fuel company growth in global markets
BlockFi announced today that it has brought on Three Arrows Capital as a strategic investor to the company. Three Arrows Capital, a leading fund manager focused on providing superior risk-adjusted returns, is also an institutional client of BlockFi. The investor joins the company through a secondary transaction.
Founded by Su Zhu and Kyle Davies, Three Arrows Capital is a hedge and crypto fund manager that focuses on emerging markets and has been providing greater risk-adjusted returns for nearly a decade. Since its inception, the firm has demonstrated impressive growth in Asia and global markets.
BlockFi is pioneering new financial products for digital assets, offering clients strong returns to help them reach financial goals. Most recently, BlockFi has raised interest rates on the BlockFi Interest Account (BIA), empowering clients to earn up to 6% APY on Bitcoin, and 8.6% APY on stablecoins such as USDC and GUSD. As it bolsters mainstream adoption of cryptocurrencies for retail and institutional clients worldwide, it is bringing on Three Arrows Capital to help the company better serve its global client base.
“In being an institutional client of BlockFi, we quickly recognized that the company’s mission of helping to expand the cryptocurrency ecosystem aligned with our own philosophy for the space,” said Su Zhu, co-founder and CEO, Three Arrows Capital. “We have had a great relationship with BlockFi and when presented an opportunity to become more involved on the investor level, the answer was evident. BlockFi has grown at an impressive rate and we are looking forward to helping propel the company forward in global markets.”
“It’s quite validating to have one of our clients seek to come on board in a greater capacity,” said Zac Prince, CEO and co-founder, BlockFi. “Bringing on Su Zhu and the team at Three Arrows Capital aligns well with our focus on international expansion of our institutional services offering – which is one of our strategic initiatives for this year.”
– The BlockFi Team