Global tech investor Fatfish Internet Group has completed its purchase of a 12.5% stake in fintech venture builder Altairian Holdings, which is launching financial service businesses focused on regulated cryptocurrency space in the United Kingdom.
In December last year, Fatfish announced it would invest A$320,000 in Altarian to bring its Asset Management Company (AMC) into operation while also investing A$640,000 into Altarian’s flagship fund – the “Global Currencies Fund”.
The deal places Fatfish at the forefront of UK-regulated cryptocurrency transactions between institutional investors.
In an update, Altarian advised that its first company Altairian Capital was seeking UK Financial Conduct Authority (FCA) authorisation after being incorporated in England and Wales. Altarian is also building the offshore fund entities it requires as a fund management group which it expects will be completed in mid-March.
Meanwhile, Altarian expects the “Global Currencies Fund” to be open for subscriptions from institutional and professional investors only with a global investor roadshow to begin in Sydney next month.
Additionally, Fatfish will host an analyst call-in in which Altairian’s CIO will present the vision for the fund and the company.
Finally, Equity Capital Markets veteran Kyle Stewart will join as group Chief Operating Officer and Head of Trading at Altarian. Mr. Stewart was previously Head of Trading at Citigroup (Asia), Jefferies and Knight Capital Group in Asia.
Today’s news comes after Fatfish recently invested in a Singapore-based cryptocurrency mining start-up APAX Mining and Kryptos-X cryptocurrency exchange.
Shares in Fatfish (ASX: FFC) were trading at 5.1c in Thursday afternoon trade.