Iconic Holding (Iconic), a cryptocurrency investment and venture company, today announced the closing of its Series A financing round. The final tranche of the investment round was led by Titania Investment Group, with existing shareholders FinLab AG, High-Tech Gründerfonds, and Cryptology Asset Group all participating. The overall fundraise from the issuance of preferred shares in the financing round was nearly €4,000,000.
Iconic plans to use the additional funds to expand the Iconic Funds group’s crypto-asset investment vehicle offerings as well as scale its newly launched Multi-Manager platform.
Iconic Funds aims to drive the adoption of crypto as an asset class by making it investable through a series of indexed, crypto-asset investment vehicles. Investors may gain passive and diversified exposure to the performance of the world’s fastest-growing asset class through familiar means and traditional investment product structures. Iconic Funds is planning a multitude of new vehicles to be issued in 2020.
Iconic’s Multi-Manager platform enables up-and-coming crypto asset managers to leverage Iconic’s own infrastructure and network to launch an investment fund cheaply and quickly for their own active crypto investment strategy. Iconic announced Napoleon Asset Management as the first asset manager to join the platform last month and is actively sourcing new managers to join the platform.
“We are ecstatic to have the ongoing support of our investors and to welcome our new shareholders, Titania, to the Iconic family,” said Patrick Lowry, CEO of Iconic. “The additional capital will permit the Iconic group to expand on its world-class crypto investment product offerings as well as scale our presence internationally.”
Kira von Wolff, a co-founder of Titania, said “I made my career rising the corporate ladder in the seafood industry. Today, I am thrilled and grateful for the opportunity to collaborate with Iconic and explore new horizons. For me, being a shareholder means being part of the team and sharing the values of creativity, innovation, and excellence that Iconic represents. I hope I may inspire individual investors to expand their investment portfolios outside of their comfort zone as well as encourage more female investors and executives to join the male-dominated crypto industry to increase its diversity of thought.”
Oliver von Wolff, co-founder of Titania, who also joined Iconic as CFO last October, said “Our vision is to become the world’s premier crypto asset management group. Nobody said this would be easy, and we see ourselves as pioneers and being well-positioned in this regard. We aim to be a market leader and drive significant value to our shareholders as well as investors interested in crypto assets. Iconic has proven itself to be both professional and resilient, not only through the so-called ‘crypto winter’, but in the face of an unprecedented economic environment disrupted by a global pandemic. The strong spirit of the company’s inspirational team has led me to believe in its future success even more!”