According to Bloomberg, crypto trading firm Wintermute is planning a significant fundraising effort, potentially raising between $200 million to $300 million. This initiative comes as the digital asset market shows signs of recovery and renewed industry enthusiasm. Early investors and employees may have the opportunity to sell some shares as part of the transaction, although the exact terms and valuation are still being finalized.
Wintermute, one of the largest market makers in the crypto sector, has been actively involved in over 100 venture capital investments. In May, the firm played a role in the launch of Hong Kong’s spot-crypto ETFs. The company last raised capital in January 2021, securing $20 million in a Series B round led by Lightspeed Ventures, with participation from various crypto investment firms.
Tencent, the Chinese tech giant known for its WeChat platform, is reportedly involved in this fundraising effort. Although blockchain is not central to Tencent's core activities, the company has previously invested in blockchain-related ventures such as Everledger and Immutable. Both Wintermute and Tencent have not responded to requests for comment on the current fundraising plans.