Dubai: Abu Dhabi Investment Office, an office under the emirate’s Department of Economic Development that is charged with attracting foreign investments and supporting local investors, was among a group of investors that raised $17.65 million in funds for Securrency.
Securrency, a US-based firm that develops blockchain-based financial and regulatory technology, said on Wednesday the funds marked its Series A round of funding. Other investors included Wisdom Tree Investments, which led the round as a strategic investor, Japan’s Monex Group, and venture capital firms RRE Ventures, Strawberry Creek Ventures, and Panthera Capital Investments, an arm of Fujeirah Holding.
Securrency has operations at the Abu Dhabi Global Market, and the Abu Dhabi Investment Office said it was committed to supporting innovative businesses that are trying to grow in the emirate.
While it is unclear exactly how much the Office invested in Securrency, a statement said that the Abu Dhabi Office anticipates the role Securrency will play in contributing to the emirate’s position as an innovative financial centre.
Securrency plans to use its Series A funding to advance its software development, integrate with partners and customers, and build out its operational structure, the company said.