xalts Raises USD6M in Funding

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xalts, an investment management and technology firm, raised $6m in funding.

Backers included Accel, Citi Ventures (Citi’s venture capital investing group) and crypto luminaries such as Polygon co-founder Sandeep Nailwal and other hedge fund managers. 

Co-founded in 2022 by former HSBC trader Ashutosh Goel and former Meta Asia executive Supreet Kaur, xalts is an investment management and technology firm focused on driving real-money institutional participation in the digital asset ecosystem.                         

xalts is expected to launch multiple fund products linked to digital assets, including mutual funds and ETFs listed on several global exchanges. The company is also leveraging its technology platform to partner with several asset management firms and staking infrastructure providers to jointly launch and manage mutual funds and ETFs. In addition, xalts is developing several other products in collaboration with other players in the ecosystem, including a structured product and repackaging platform which will allow institutions to issue structured notes with embedded crypto options. 

The company expects to build a team of 30 by the end of this year across its offices in Hong Kong, Singapore, Dubai and Geneva.