Pluto Blasts Beyond Moon to $50m Within 50 Days of Inception
Pluto Digital Assets PLC (Pluto) the crypto VC and tech company, has rocketed into the crypto scene at a rate faster than the SpaceX Falcon, closing another successful funding round. This means the company has surpassed $50 million total assets under management, within 50 days of establishment.
Pluto’s third and largest round to date was led by Argo Blockchain PLC (ARB.L & ARBKF), who will be maintaining their c.25% stake with an investment of $10m. There was continued investment by two other publicly traded companies, Pires Investments Plc (PIRI.L) and Riverfort Global Opportunities Plc (RGO.L) amongst others, as part of a total raise of c.$40m. The round was oversubscribed with Pluto having to scale back demand to accommodate a broad spectrum of investors.
Pluto Digital Assets has been actively deploying capital into new token issuances at seed level, incubating projects, taking equity positions and holding strategic and treasury positions in digital assets. It is also engaged in the NFT collectables market and is actively curating a private collection, with the first pieces to be unveiled shortly. Pluto will also generate income from its operational activities of running nodes, mining, staking, liquidity provision and via its engagement with other DeFi protocols. With their relationships with many leading launchpads, they are optimally placed to help projects execute a smooth and successful take off.
Pluto Director and Pilot Atif Yaqub commented, “This is a period of unprecedented opportunity to fill a void in the London markets, bringing a blend of traditional and crypto venture. We are over the moon with the results of the fundraise which was heavily oversubscribed and thank our existing shareholders for their support and welcome our new investors. The funds give us the firepower for an aggressive push to become a leader in decentralised technology investment. We’re already engaged with an epic constellation of projects in the digital assets space and look forward to propelling them to Pluto and beyond.”
The team has significant experience of investment management and venture capital, trading, digital assets, start-ups and DeFi. They are also networked within the Web 3.0 Ethereum, Polkadot and DeFi communities and have experience of launching Web 3.0 projects such as YOP.
Pluto’s keen eye for selecting the hottest digital assets to invest in, is already delivering astronomical returns, as has recently been demonstrated in their investment in Umbrella Network, YOP, Vortex DeFi and others shortly to launch.