BH Digital Raises $9 Million for Its Liquid Token Strategy

BH Digital has raised $9 million from investors for its liquid token strategy, known as the Nova Digital Opportunities fund.

The fund has three investors — with the first sale taking place at the start of March, according to a regulatory filing. The fund launched in 2022, the filing said.

Nova Digital is a branch within hedge fund Brevan Howard's digital assets arm, BH Digital. It's headed by BlackRock and Dragonfly Capital veteran Kevin Hu, who reports directly to BH Digital's chief executive Gautam Sharma.

It's unclear whether the $9 million in capital for the Nova Digital Opportunities fund is from existing Dragonfly limited partners or new investors. The fund is now soft closed and not being marketed actively, the source said.

(By Kari McMahon)

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