Digital asset management firm Arrington XRP Capital has merged with cryptocurrency-focused private fund and research house ByteSize Capital, according to an official announcement published on March 27.
With the merger, ByteSize Capital’s co-founders Ninor Mansor and Ninos Mansor have also joined Arrington XRP Capital as partners, along with founding partners Heather Harde and Michael Arrington.
Per the terms of the acquisition, Arrington XRP Capital will take on ByteSize’s proprietary investing suite for navigating cryptocurrency markets, accumulating data and quantitative backtesting. The aforementioned systems will be added to Arrington XRP Capital’s existing investment framework.
The merger was reportedly enabled by a recent investment of $30 million by Arrington XRP Capital’s major limited partners, according to cryptocurrency-focused media outlet CoinDesk. Ninos Mansor reportedly commented on the acquisition saying that “one thing that stood out to us as we discussed a merger was the fact that they’ve been working together for over a decade. Two tech booms gives you scars and judgement that you just can’t replicate.”
In January, Arrington XRP participated in a funding round of decentralized exchange (DEX) aggregator Totle. Michael Arrington — Arrington XRP Capital’s founder and the founder of TechCrunch — said then that the DEX-focused platform “is an important part of the future of the blockchain economy [that] enables users and organizations to initiate reliable, non-custodial transactions.”
Arrington XRP Capital rose $100 million back in 2017, according to Arrington. The fund — which compels partners to invest in Ripple (XRP) for distribution transactions, as well as fees — trades and holds cryptocurrency assets, and invests in token sales, equities and debt.