1k(x), a $1 billion crypto venture capital firm that counts British hedge fund tycoon Alan Howard among its backers, hired former Valour Inc. executive Diana Biggs as a partner.
(Bloomberg) — 1k(x), a $1 billion crypto venture capital firm that counts British hedge fund tycoon Alan Howard among its backers, hired former Valour Inc. executive Diana Biggs as a partner.
Biggs will provide support to new and existing portfolio companies, driving partnerships with institutions and non-crypto applications for British Virgin Islands-based 1k(x), it said in a statement. She was previously chief strategy officer at Valour, the Swiss provider of crypto exchange-traded products.
Founded by European crypto investors Lasse Clausen and Christopher Heymann four years ago, 1k(x) focuses on early-stage investing in blockchain ecosystems and developers such as Arweave, Gnosis and Matter Labs.
Biggs left Valour this summer after spending two years there, holding positions such as chief executive officer of its ETP business. Before that, she was global head of innovation at HSBC Holdings Plc’s private bank.
The broader crypto market has been in stuck in a downturn since late 2021, and venture capital investment in digital asset businesses plunged to its lowest level in over a year in the third quarter. Despite the so-called crypto winter, traditional financial firms have continued to launch products and services related to digital assets.
“We are entering a new phase of adoption of these emerging technologies, as they gain market share and converge with the established platforms,” Biggs said in an email.
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