Rothschild Investment Vehicle Doubles Crypto and Invests in Kraken

The Rothschild family has taken a new step in the crypto world thanks to its RIT Capital Partners company – formerly Rothschild Investment Trust.

Source: a screenshot, Instagram / krakenfx

It appears that this investment – in the US-based crypto exchange central Kraken – was kept under the radar, and may have been completed earlier in the year.

A note to investors, written by James Glass, director of investment firm sales at Numis Securities, and posted on the RIT Capital website, claimed that “during RIT Capital’s webinar last month,” “in the private sector,” RIT disclosed that it had “acquired a stake in Kraken.”

Glass made no mention of the size of the investment, but also noted that “Kraken is currently in talks with investors about another fundraiser that could give it a valuation of $ 20 billion.” .

UK-headquartered RIT Capital had total net assets of around $ 5.3 billion at the end of 2020, according to a financial report released last month.

The company was founded by Lord Jacob Rothschild.

However, this is not RIT’s first foray into cryptography. At the end of last year, the company joined companies like Pay Pal in an investment in Paxos, a Series C round worth $ 142 million.

Either way, the news will no doubt fuel the rumor mill, with all eyes on the Kraken’s plans to go public.

As reported in late March, Kraken CEO Jesse Powell said the company remains on track to go public next year, “likely” in the “second half” of 2022.

However, he added that “there are no guarantees at this time”, noting that “anything can happen in the crypto space”.

Powell added at the time that the company did not need to raise funds to go public and that “raising more capital at this point would simply be making more acquisitions.”

Regardless, in February Kraken was reportedly in talks with investors over an offer to raise new funding that could see its valuation more than double to over $ 10 billion, although the final figure could be double that “depending on demand,” according to a Bloomberg. source close to the file. At the time, loyalty, Capital of the tribe, and General Atlantic were mentioned among potential investors. has contacted Kraken and RIT for comment on this story and will update if a response is forthcoming.

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