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EQS-News: Cryptology Asset Group PLC
/ Key word(s): Statement
Joint Press Release Deutsche Digital Assets (“DDA”) & Cryptology Asset Group p.l.c. (“Cryptology”)
DDA successfully sells US-based group to Cryptology. Patrick Lowry resigns as DDA’s CEO to focus exclusively as Cryptology’s CEO.
FRANKFURT, GERMANY & SLIEMA, MALTA, January 17, 2023 – Patrick Lowry, Co-founder and CEO of crypto asset management group Deutsche Digital Assets (“DDA”) as well as publicly-listed crypto holding company Cryptology Asset Group p.l.c. (“Cryptology”), resigned his role as CEO and Managing Partner of DDA and its subsidiaries, which became effective January 1, 2023. Moving forward, Patrick will focus his efforts on Cryptology, which has also acquired DDA’s US-based operations, while remaining an active shareholder in DDA. Patrick is a co-founder of DDA, formerly known as Iconic, and has been its CEO since its founding in 2017. DDA began as a crypto-focused venture capital firm, gradually evolving into a fully-fledged asset management group with regulated index funds, ETP’s and quantitative strategies for crypto assets in the EU. In the US, DDA also operated a crypto-focused VC fund and had recently begun scaling its planned multi-manager/fund-of-funds platform. However, it was strategically decided by DDA to sell its US business to Cryptology, for its own strategic purposes. The transaction was successfully closed at year end 2022 and best enables DDA to focus on scaling up its core asset management business in Europe. “On behalf of the entire DDA family, I would like to thank Patrick for his commitment and immeasurable contribution to DDA as its CEO,” said Maximilian Lautenschläger, Co-founder and Managing Partner of DDA. “Patrick provided outstanding leadership and unrelenting dedication over the past 5 years, and his determination and focus on DDA's innovation and growth were exemplary. I look forward to building on the DDA foundation Patrick and I built together by continuing to improve our execution and delivering tremendous growth for our valued investors and shareholders in Europe.” On top of his role as CEO of DDA, Patrick stepped in as CEO of Cryptology in early 2021. Cryptology, an investor in DDA since 2019, is a leading European holding company investing in Bitcoin and blockchain-focused companies. Since Patrick’s appointment, Cryptology has largely focused on investing in crypto-focused private funds. Cryptology’s strategic acquisition of DDA’s US arm, whose subsidiary manages a Delaware/Cayman-based private fund complex, enables Cryptology to scale its crypto-focused fund investments further. Cryptology will now empower emerging managers to launch their own funds under the newly acquired structure, a multi-manager platform, which will offer top emerging managers the infrastructure they need, as well as seed capital, to scale their own crypto asset management platforms. As manager of the platform, Cryptology’s new US arm will be able to offer institutional and accredited investors a menu of top crypto investment strategies, as well as manage investors assets in a planned fund-of-funds complex investing in the emerging managers. The platform is intended to launch in early 2023. Patrick said “I am unbelievably proud of where DDA and its team are, and I am extremely excited to see where Max, Jens and the new management team will take it moving forward. DDA is family to me, and I see nothing but the brightest future for its team, its investors, and its community. I am equally thrilled by the opportunity to focus on scaling Cryptology and its new FoF/Multi-Manager platform, building out a new revenue generating, high-margin investment management unit, as we strive to deliver maximum value to our shareholders. I look forward to sharing the new vision I have for Cryptology and what we will build for our shareholders in a letter addressing them before the end of this month.”
About DDA Deutsche Digital Assets is the trusted one-stop-shop for investors seeking exposure to crypto assets. We offer a menu of crypto investment products and solutions, ranging from passive to actively managed exposure, as well as financial product white-labeling services for asset managers. We deliver excellence through familiar, trusted investment vehicles, providing investors the quality assurances they deserve from a world-class asset manager as we champion our mission of driving crypto asset adoption. DDA removes the technical risks of crypto investing by offering investors trusted and familiar means to invest in crypto at industry-leading low costs. The marriage of state-of-the-art technology, innovative investment products, and uncompromising professionalism places DDA at the vanguard of crypto asset management. About Cryptology Cryptology Asset Group (ISIN: MT0001770107; Ticker: CAP:GR) is a leading European holding company for Bitcoin and Blockchain-related business models. Cryptology was founded by Christian Angermayer's family office, Apeiron Investment Group, and crypto-legend Mike Novogratz. Noteworthy portfolio companies include Bitcoin behemoth B1, leading HPC data center operator Northern Data, commission-free online neobroker nextmarkets, and digital asset management group Deutsche Digital Assets..
Media contact:
Media Contact: Cryptology Asset Group p.l.c. Jefim Gewiet (COO) 66/67, Beatrice, Amery Street, Sliema SLM 1707 Malta E-mail: info@cryptology-ag.com
17.01.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Cryptology Asset Group PLC |
| Beatrice 66 & 67, Amery Street | |
| SLM 1707 Sliema | |
| Malta | |
| E-mail: | info@cryptology-ag.com |
| Internet: | cryptology-ag.com |
| ISIN: | MT0001770107 |
| WKN: | A2JDEW |
| Listed: | Regulated Unofficial Market in Dusseldorf |
| EQS News ID: | 1536281 |
| End of News | EQS News Service |
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1536281 17.01.2023 CET/CEST
