Investment fund RIT Capital Partners has acquired a stake in the crypto exchange Kraken.

This is reported by Numis, citing a webinar by RIT Capital itself held last month. 

RIT Capital Partners is a British investment fund established in 1961 by the fourth Rothschild baron, Jacob Rothschild

The fund, formerly known as the Rothschild Investment Trust (RIT), has assets under management totalling £4.5bn and invests in equities and special projects. 

It is listed on the London Stock Exchange, with a market capitalization of over £3.8 billion, and its chairman is still Lord Rothschild.

In 2020 RIT Capital Partners generated revenues of almost £23 million, and its share price this year reached an all-time high a few days ago at over £2,500. 

Over the course of 2021, the stock is up around 18%, while compared to a year ago it is up 40%. 

Kraken, external participation to land on the stock exchange

Kraken, on the other hand, has expressed its intention to go public for some time now, and the entry of RIT Capital Partners among its shareholders could help the exchange achieve this goal. 

The company is in talks with investors for a new fundraising round that could eventually give it a value of around $20 billion, compared to Coinbase’s current $60 billion, for example. 

However, the amount of RIT Capital Partners’ investment in Kraken is not known, nor are there any indications of a figure. 

According to the February factsheet, the UK fund invests primarily in North America and emerging markets, so Kraken fits squarely into its investment strategies, being a US exchange and operating in an emerging market. 

Having invested more than 60% of the £4.5bn under management in just these two sectors it is plausible that Kraken’s investment is not small

 

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Rothschild acquires a stake in Kraken

by Matt Villie
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