Crypto investment firms Arca and BlockTower agree to merger
The digital asset financial institution Arca and crypto investment firm BlockTower Capital intend to merge.
The firms signed a letter of intent for an all-equity deal, according to a joint company released Wednesday . While their respective business units will transition into a unified brand, BlockTower Venture Capital will stay independent.
Arca Co-Founder and Chief Investment Officer Jeff Dorman noted that new investment vehicles are expected to emerge following the consolidation, the release continues.
"Arca is an excellent match for BlockTower because we share similar investment principles, values, and long-term vision for successful asset management in the digital assets space," BlockTower Co-Founder and Chief Investment Officer Ari Paul said in a statement. "Our alignment includes a commitment to operational excellence, a foremost emphasis on our fiduciary role and the duties accompanying it, and setting a high ethical bar in treating all stakeholders."
BlockTower Capital has invested in Aptos Labs , Dapper Labs and Solana, whereas Arca's portfolio includes Mintify and Bitwave , according to venture investment tracker DealRooms.
