Digital asset manager Hyperithm raises $11M in Series B round

Hyperithm, a private digital asset manager based in Tokyo and Seoul, announced that it has raised $11 million in a Series B funding round.

The round was co-led by Hashed and Wemade Tree, with participation from Coinbase Ventures, Cocone, GS Futures, and Guardian Fund.

Founded in January 2018, Hyperithm offers digital asset management and execution brokerage dedicated to institutional investors and high net-worth individuals, including publicly listed companies, family offices, venture capitals, and crypto exchanges and miners. Hyperithm’s AUM (Assets Under Management) and brokerage volume have both increased by 25 times year over year.

Co-founded by an ex-Morgan Stanley investment banker and a serial entrepreneur, Hyperithm boasts an engineering talent pool consisting of several International Math Olympiad medalists. The team specializes in automated trading and risk management through algorithms developed primarily in Rust, a statically-typed programming language designed for performance and safety.

“Through our engagement with Hyperithm over the past few years, I was fortunate to witness the company’s outstanding operational performance as well as exponential growth,” commented Simon Kim, the CEO of Hashed, one of the highly respected crypto funds in Asia. “I’m confident that Hyperithm will continue to pioneer its way as a market leader.”

Alongside securing funding from investors based in the US, Japan, Korea, and Singapore, the company’s latest round valuation reached ten times that of its previous funding round in 2019. Hyperithm’s Series A funding round was led by VIP Research & Management, an asset manager with $20 billion in AUM, with participation from venture capital arms owned by Kakao and Naver, the two largest tech giants in Korea.

“The growth of the institutional market for digital assets in East Asia is just at its inception,” said Lloyd Lee and Sangrok Oh, the co-founders of Hyperithm. “While facilitating the soft landing of digital assets into the mainstream capital markets, we will continue our journey to become a global financial institution.”