Tagomi Holdings Inc, a digital asset brokerage founded by former Goldman Sachs Group executive, Greg Tusar, has raised $12 million in its second round of funding. The funding was led by the Yale-Backed Paradigm Fund, with collaboration from Pantera and other prominent clients. Tagomi now has funding of $28 million after its launch in December 2018. With the capital from this financing, Tagomi plans to “grow operations to support and scale with client demand”.
Tagomi Holdings is the first live electronic brokerage offering prime services on an agency basis for investors of Bitcoin, Ether, and other digital assets. They join a list of startups aiming to bridge the gap between what investors expect from market infrastructure and the unpredictable nature of cryptocurrency trading.“We pitch ourselves as an end-to-end solution,” said Tusar. “There’s been a general lack of transparency and disclosure in the space and we think that’s quite important to improve that”.
Co-founder of Tagomi, Jennifer Campbell, who was an investment analyst at Union Square Ventures, said that most big crypto deals are done over-the-counter where a counterparty knows your identity and strategy and that’s where a brokerage like Tagomi steps in. “It’s really important to them to have control over how they trade and to have anonymity,” she said.
Proven Electronic Trading Solutions That Investors Expect
“We view the development of an electronic agency offering as a critical step in empowering funds like Pantera to have complete control and anonymity when transacting in digital assets,” said Dan Morehead, Chief Executive Officer and Co-Chief Investment Officer at Pantera Capital. “We believe it is a key component to carrying out our fiduciary duty in achieving best execution for our fund”.
Tusar said at Tagomi’s launch that the company applies “proven electronic trading solutions that these sophisticated investors have come to expect, and removes the operational hurdles commonly associated with digital asset investing”.
“We are excited to partner with investors who have experienced first-hand, the frustrations around the lack of infrastructure, and work toward our shared vision of building next generation robust trading technology, so that clients can focus solely on developing their strategies”.