- SEC regulated digital asset investment manager makes first acquisition in Europe -
- Acquisition paves the way for further expansion by Wave Financial globally -
LOS ANGELES and LONDON, Sept. 1, 2022 /PRNewswire/ -- Wave Financial LLC (Wave), the SEC regulated digital asset investment management company, is pleased to announce that it has acquired a minority stake in FINMA regulated Swiss based crypto investment manager Criptonite Asset Management. This is the first step of a planned full acquisition, subject to regulatory approval, expected to be completed by the end of 2022.
The acquisition follows the strategic partnership between the two companies back in 2021 and Criptonite's launch of several Actively Managed Certificates (AMCs) of Wave Financial's flagship digital asset funds in Europe, including the Wave Bitcoin Income & Growth and NFT funds. By acquiring Criptonite, Wave will be able to take advantage of increasing demand for regulated digital asset investment fund products in Europe.
Matteo Dante Perruccio, President International at Wave Financial said:
"We have seen unprecedented demand from institutional and other accredited investors for professionally managed digital asset funds in Europe. There seems to be a flight to quality taking place, so it makes sense to take our relationship with Criptonite to the next level. They share our strong focus on risk management and compliance and have been a fantastic partner over the past twelve months and we are excited to be solidifying that relationship."
"This acquisition is Wave Financial's first outside the US, but will not be our last as we are actively looking for other partners to bring our diverse set of digital asset funds and solutions to accredited investors around the world."
David Siemer, Co-Founder and CEO at Wave Financial said:
"As a SEC regulated digital asset management firm, which has demonstrated strong risk management in successfully navigating the recent market disruptions, we believe Wave is in the perfect position to leverage its strong balance sheet. This bear market is an opportunity for us to continue to grow and expand, both organically and by acquiring crypto asset managers. Wave is in discussions with several asset managers, exchanges and lenders, as we look to expand our footprint in Europe and beyond."
Florian Rais, Founder and CEO of Criptonite AM said:
"We were already happy to obtain an operating licence from FINMA, but we are now truly thrilled to formally get together with SEC registered Wave Financial. This opens a new era for us, in which we will have the opportunity to propose a unique investment offering. Wave's client references and investment talents is certainly an answer to strict requirements of our own clients and prospects. We come with a wealth and asset management DNA, setting ambitious growth targets, knowing that our common solution is here to bring unique comfort to investment professionals pressured in providing crypto investment solutions to their own clients."
About Wave Financial
Wave Financial LLC (Wave) is a Los Angeles based Crypto investment management company that provides institutional and private wealth digital asset management solutions. Led by a team of highly experienced financial services professionals, Wave provides crypto investment solutions with a focus on yield generation through investable funds as well as managed accounts for HNWIs and family offices seeking tailored digital asset exposure, bespoke treasury management services and early-stage venture capital and strategic consultation to the digital asset ecosystem. Wave is registered with the US Securities & Exchange Commission as an investment adviser, CRD# 305726.
About Criptonite AM
Criptonite Asset Management SA is a Geneva, Switzerland based investment management company that manages and promotes investment products focused on digital assets. The products managed are for institutional and qualified investors only. Criptonite Asset Management was founded by a seasoned investment manager who spent his whole career advising and managing HNWI assets; it is today surrounded by a team of highly skilled investment professionals. Criptonite is registered with an auto regulated body (So-Fit), in accordance with the Swiss FINMA regulator requirements.
Important Disclosures and Other Information
Nothing in this material should be interpreted as an offer or recommendation to buy, sell or hold any security or other financial product. Past performance is no guarantee of future results. Wave Financial LLC is an investment adviser, registered with the US Securities and Exchange Commission (CRD#: 305726). Registration with the federal authority does not imply a certain level of skill or training. Additional information including important disclosures about Wave Financial LLC also is available on the SEC's website at www.adviserinfo.sec.gov. Or, learn more information about Wave Financial at www.wavegp.com.
The ecosystem landscape included in this post is intended to provide generalized guidance; nothing in this analysis is intended as tax advice, investment advice, a recommendation to purchase a security or an introduction to particular funding or capital resource.
SOURCE Wave Financial