Atif Yaqub’s Pluto Digital Assets rakes in $50 million in management assets after three rounds of fundraising and less than a year of existence.

The VC firm seeks to act as a bridge for fundraising between traditional market investors and the crypto space. Its strategy revolves around investment in new tokens along with industry standards and emerging startups. Currently, the Pluto portfolio includes emerging companies like DexTools, AmpNet, and Vortex DeFi. They have also invested in digital currencies like BTC, ETH, and DOT.

Furthermore, Pluto will invest in Yaqub’s own project, YOP, a chain agnostic DeFi tool. The tool will extend access to decentralized finance for general retail investors.

Read Also:   Bitcoin (BTC) Falls Below $57,800 Support Level

Yaqub has made a name for himself in the crypto space in the relatively short span of five years. He began mining bitcoin and ethereum but now heads product development projects in the DeFi scene like YOP.

Pluto Digital Assets is one of many venture capital firms currently betting on the emerging crypto space. The recent success of Ethereum has piqued institutional interest in DeFi products across the board. 

DeFi for VC investors 

While DeFi has become one of the most profitable trends in the crypto space, it also resists investment from traditional investors due to its complex nature. Pluto has therefore made this one of its major focus areas.

Read Also:   Bitcoin (BTC) Continues Consolidation Phase Below Resistance

Major DeFi platforms like Yearn have grabbed recent headlines with their innovation in the space. As its use case becomes more widely understood, DeFi poses a threat to modern traditional finances, as stated by a Bank of American analyst. However, there have also been noticeable collapses like Yam Finance, which had to recover from major losses in late 2020. 

Yaqub deems the space still in an experimental and risky stage. Whether or not Pluto Digital Assets can identify the key emerging market trends and find greater capitalization remains to be seen. 


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

Read Also:   3iQ Bitcoin Fund Reports C$1 Billion in BTC Under Management

Download MAXBIT Android App, Your best source of all crypto news!
Google Play

Source link

Pluto Digital Assets Founder Talks VC Asset Management & DeFi

by Douglas Smith
Choose A Format
Voting to make decisions or determine opinions
Formatted Text with Embeds and Visuals
The Classic Internet Listicles
Upload your own images to make custom memes
Youtube, Vimeo or Vine Embeds
Soundcloud or Mixcloud Embeds
Photo or GIF
GIF format