Dawn Capital, Goldman Sachs Plow $70M Into Crypto Infrastructure Provider

Global banking giant Goldman Sachs and European VC firm Dawn Capital have poured fresh capital into Elwood Technologies

article-image

Source: Shutterstock

share

key takeaways

  • Funding from the $70 million Series A will go toward expanding its suite of products as well as its global operations
  • The list of investors included a mix of both traditional and crypto-native firms, marking another instance of a convergence between mainstream and digital assets

Digital assets trading infrastructure firm Elwood Capital said Monday it had raised a hefty sum in fresh capital from some of the world’s largest financial institutions.

Dawn Capital, Europe’s “largest” B2B venture capital firm by total assets under management ($1.5bn) and global banking giant Goldman Sachs co-led the $70 million Series A funding round, according to a press release.

Barclays, BlockFi Ventures, Chimera Ventures, CommerzVentures, Digital Currency Group, Flow Traders and Galaxy Digital Ventures also participated in the round.

Funding from the round will go toward expanding Elwood’s product offerings and its global operations. Elwood’s platform offers clients access to an order execution management system as part of its crypto infrastructure suite of products.

A portfolio management system and access to market data as well as analytics also form a major part of the company’s offerings to institutional clients.

The list of investors participating in the round represents an intersection of traditional and crypto-native firms despite the industry’s recent market turmoil.

“The rich mix of investors participating in this raise reaffirms the movement of financial institutions working closely with their native digital asset technology providers,” Elwood’s CEO James Stickland said. “Together, we aim to provide broader mass market involvement in digital assets and cryptocurrency.”

Indeed, investment from outside capital continues to flow into startups and businesses in a bid to capitalize on the growth of promising technological and financial innovations.

“Our investment in Elwood was a natural fit given the business’s cutting-edge technology, experienced team and significant market opportunity,” Dawn Capital general partner Josh Bell said in the release. “Now is an important moment in Elwood’s evolution as its technology moves to the mainstream.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

For just $54, you, too, could send a memecoin 500% higher

article-image

Memecoins, tech, and inflation have dominated the first half of the year

article-image

As the Trump administration continues to test Fed independence, markets are beginning to react

article-image

An Aave interest rate shock prompted over 475,000 validators to exit and pushed stETH into a prolonged depeg

article-image

While Roman Storm’s team is set to present its case, it’s not yet clear if the Tornado Cash founder will testify

article-image

A wireless network inspired by lost drones is now helping telco carriers reach your phone indoors