One River Digital, a cryptocurrency-focused hedge fund offering exposure to Bitcoin (BTC) and Ether (ETH), has closed its first funding round after launching last year.

One River Digital president Sebastian Bea confirmed Wednesday that the company had raised $41 million in a Series A financing round from investors, including Goldman Sachs and Coinbase Ventures.

Other investors included American diversified global insurer Liberty Mutual Insurance and an alternative investment management firm, Infinity Investment Partners, as One River Digital announced on Tuesday.

According to the One River Digital president, the fresh capital will help the company to increase its investment opportunities to support the digital ecosystem.

“We will use these funds to accelerate our scale across investments, distribution and operations. These funds will help us better seek our purpose, which is to help institutions access and invest in the future of finance,” Bea said.

As previously reported, One River Digital was founded in 2020 by Eric Peters, founder and CEO of the startup’s parent company, One River Asset Management. The crypto fund is widely known in the cryptocurrency community, having accumulated about $600 million worth of Bitcoin and Ether in late 2020, it generated massive gains following a massive crypto rally in early 2021.

One River is backed by billionaire hedge fund manager Alan Howard, co-founder of the Brevan Howard, which reportedly acquired a 25% stake in One River Asset Management in October.

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“​​The experience and expertise of this team, together with our existing investors at Brevan Howard and our Academic and Regulatory Advisory Council, will be of great benefit to One River as we pursue our mission to be the leading institutional investment manager in digital assets,” Peters said.

As previously reported, One River Digital established its academic and regulatory advisory council in March 2021, bringing together prominent industry figures like Jay Clayton, a former chairman of the United States Securities and Exchange Commission. In May, One River Digital filed for a carbon-neutral Bitcoin exchange-traded fund.