Fintech investment company Deus X Capital has announced it has closed the first round of equity funding as sole investor of its new company, Cor Prime, and has committed up to $100 million of risk capital to the business.
Cor Prime will offer principal and prime lending for institutional investors in the digital asset space, pending regulatory approval.
Tim Grant, CEO of Deus X Capital, will lead Cor Prime in the role of Chief Executive Officer, and Cor Prime will operate under the Deus X Enterprises division to benefit from Grant’s dual role. Tim was previously the CEO of SIX Digital Exchange, and has also served as Head of EMEA at Galaxy Digital, CEO of DrumG Technologies, CEO of R3 Labs, and Managing Director at both UBS Investment Bank and at multi-strategy hedge fund UBS O’Connor.
Cor Prime sits at the heart of traditional and digital finance and is positioned as a prime-of-primes, attracting high quality institutional risk capital from sovereign wealth funds, pension funds, insurance companies, hedge funds, family offices as well as pools of crypto assets from treasuries of foundations and miners. Cor Prime will ultimately lend to high quality counterparties including hedge funds, miners, market makers, exchanges and prime brokers, providing a trusted bridge between traditional markets and digital assets as these ecosystems continue to converge.
The company said it has assembled a global team of seasoned professionals with deep experience across traditional and digital capital markets and announces its intention to open for commercial business in 2025 with an initial regulatory footprint in Bermuda and Abu Dhabi.
Cor Prime is developing a sophisticated and differentiated risk paradigm that integrates qualitative business intelligence, advanced quantitative modelling, as well as AI capabilities from Deus X Ventures company APEX:E3. This allows for a real-time understanding of market and emerging risks, enabling pre-emptive actions to safeguard client capital. A forward-looking approach ensures identification and mitigation of liquidity and market stresses before they impact counterparties, reducing overall risk within the digital assets ecosystem.
Tim Grant, CEO of Cor Prime, said:
“Digital asset markets are starved of the risk capital and we see a major opportunity to oxygenate this market by unlocking new sources of capital. Institutional investors need a safe, sensible investment opportunity backed by a next-generation risk paradigm that they understand before they can enter new markets and help them grow, and that is exactly what we will be launching with in 2025.”
About Cor Prime
Cor Prime intends on becoming a regulated prime of prime broker for the digital asset markets. Cor Prime is based in London and operates globally, taking in institutional risk capital and providing risk-managed lending solutions for investors in digital asset markets. Pending approval, Cor Prime aims to be initially regulated out of Bermuda and Abu Dhabi.
About Deus X Capital
Deus X Capital is a specialist investment and operating company focused on private equity, venture capital and enterprise build opportunities in the capital markets, fintech and digital assets sectors. Deus X has more than $1bn in assets under management and its unique expertise, extensive network, and diverse capabilities to foster lasting value within the financial technology sector.
