Fintech investment firm Deus X Capital has announced that it has closed the first round of equity financing as the sole investor in its new company, Cor Prime, and has committed up to $100 million in venture capital to the business.
Cor Prime will offer senior and principal lending for institutional investors in the digital asset space, pending regulatory approval.
Tim Grant, CEO of Deus X Capital, will lead Cor Prime in the role of CEO, and Cor Prime will operate under the Deus X Enterprises division to take advantage of Grant’s dual role. Tim was previously CEO of SIX Digital Exchange and has also served as Head of EMEA at Galaxy Digital, CEO of DrumG Technologies, CEO of R3 Labs and CEO of both UBS Investment Bank and UBS Multi-Strategy Hedge Fund O’Connor.
Cor Prime is at the heart of traditional and digital finance and is positioned as prime-of-primes, attracting high-quality institutional venture capital from sovereign wealth funds, pension funds, insurance companies, hedge funds, family offices as well as crypto asset groups from foundations and miners’ funds. Cor Prime will eventually lend to high-quality counterparties, including hedge funds, miners, market makers, exchanges and prime brokers, providing a trusted bridge between traditional markets and digital assets as these ecosystems continue to converge.
The firm said it has assembled a global team of seasoned professionals with deep experience in traditional and digital capital markets and is announcing its intention to open for commercial operations in 2025 with an initial regulatory footprint in Bermuda and Abu Dhabi.
Cor Prime is developing a sophisticated and diversified risk paradigm that incorporates qualitative business intelligence, advanced quantitative modeling, as well as AI capabilities from Deus X Ventures APEX:E3. This enables real-time understanding of market risks and emerging risks, enabling proactive actions to safeguard clients’ capital. A forward-looking approach ensures that liquidity and market pressures are identified and mitigated before they affect counterparties, reducing overall risk in the digital asset ecosystem.
Tim Grant, CEO of Cor Prime, said:
“Digital asset markets lack venture capital and we see a great opportunity to oxygenate this market by unlocking new sources of capital. Institutional investors need a safe, sensible investment opportunity backed by a next-generation risk paradigm they understand before they can enter new markets and help them grow, and that’s exactly what we’ll be launching in 2025.”
About Cor Prime
Cor Prime aims to become a regulated premier broker for digital asset markets. Cor Prime is based in London and operates globally, underwriting institutional venture capital and providing risk-managed lending solutions for investors in digital asset markets. Pending approval, Cor Prime intends to initially be regulated by Bermuda and Abu Dhabi.
About Deus X Capital
Deus X Capital is a specialist investment and operating firm focused on private equity, venture capital and business creation opportunities in the capital markets, fintech and digital assets sectors. Deus X has more than $1 billion in assets under management and its unique expertise, extensive network and diverse capabilities to drive lasting value in the financial technology space.