NEW YORK, May 24, 2021 /CNW/ - Galaxy Digital Holdings Ltd.
(TSX: GLXY) ("Galaxy Digital" or the "Company") today announced
that it has acquired Vision Hill Group, a premier investment
consultant and asset manager in the digital asset sector that
provides sophisticated investors with access to
institutional-caliber investment products, data, benchmarks, and
analytics for more informed investment decisions. The acquisition
adds to Galaxy Fund Management's leading platform for institutions
looking to unlock investment opportunities across the digital asset
class.
"As the institutionalization of digital assets accelerates, so
does the need for comprehensive, institutional-grade platforms to
support it and that's precisely what we're building at Galaxy,"
said Damien Vanderwilt,
Co-President, and Head of Global Markets. "The powerful data
capabilities that Scott Army,
Dan Zuller, and the Vision Hill team
have developed are the perfect addition to our full suite of
technology-driven financial services and investment management
solutions, fostering the broader mainstream adoption of digital
assets."
The transaction will further expand Galaxy Fund Management's
growing product suite and enable institutional clients to access an
even broader array of data and intelligence to streamline research
and inform investment decisions. Vision Hill Group's family of
crypto hedge fund indices, leading crypto-market intelligence
database VisionTrack, and sophisticated asset management
capabilities with a crypto-focused fund of funds product sit at the
intersection of information (data), expertise (strategies), and
access (opportunities).
"Galaxy Fund Management is rapidly expanding its capabilities to
ultimately provide institutional-grade exposure to every investable
corner of digital assets so that institutions can easily get
involved in this booming industry," said Steve Kurz, Partner and Head of Asset Management
at Galaxy Digital. "Our acquisition of Vision Hill is an important
milestone as Galaxy Fund Management's product suite continues to
grow and as we further define the digital asset class."
"Our mission is to empower institutional investors with
data-driven solutions so that they can get the most out of digital
assets," said Scott Army, CEO of
Vision Hill Group. "Having worked closely with the talented team at
Galaxy over the past 2 years, we are confident that Galaxy Fund
Management will help further bring this vision to life and look
forward to what we can accomplish together as digital assets reach
an inflection point."
Advisors
Galaxy Digital's Investment Banking division also provided
assistance on the transaction. Davis
Polk & Wardwell LLP, Blake, Cassels & Graydon LLP
and Maples & Calder LLP are serving as legal advisors to Galaxy
Digital. Kluk Farber Law PLLC is serving as legal advisor to Vision
Hill Group.
About Galaxy Digital
Galaxy Digital (TSX: GLXY) is a diversified financial services
and investment management company in the digital asset,
cryptocurrency, and blockchain technology sectors. Galaxy Digital's
team has extensive experience spanning investing, portfolio
management, capital markets, venture capital, asset management, and
blockchain technology. Galaxy Digital operates in the following
businesses: Trading, Asset Management, Principal Investments,
Investment Banking, and Mining. Galaxy Digital's CEO and Founder is
Mike Novogratz. The Company is
headquartered in New York City,
with offices in Chicago,
San Francisco, London, Amsterdam, Tokyo, Hong
Kong, the Cayman Islands
(registered office), and New
Jersey.
About Vision Hill Group
Vision Hill Group is a premier investment consultant and asset
manager in digital assets, with a family of crypto hedge fund
indices, a leading market intelligence database, called
VisionTrack, and an asset management arm with a crypto-focused fund
of funds product.
Disclaimers
The TSX has not approved or disapproved of the information
contained herein.
This press release includes certain "forward-looking
information" and "forward-looking statements" (collectively
"forward-looking statements") within the meaning of applicable
Canadian and United States securities legislation
including the United States Private Securities Litigation Reform
Act of 1995. All statements, other than statements of historical or
current fact, included herein, are forward-looking statements.
Forward-looking statements are frequently, but not always,
identified by words such as "expects", "anticipates", "believes",
"intends", "estimates", "potential", "possible", and similar
expressions, or statements that events, conditions, or results
"will", "may", "could", or "should" occur or be achieved.
Forward-looking statements in this press release relate to, among
other things, the Company's ability to realize anticipated
transaction benefits and the Company's ability to achieve its
business objectives. There can be no assurance that such statements
will prove to be accurate, and actual results and future events
could differ materially from those anticipated in such statements.
Forward-looking statements reflect the beliefs, opinions, and
projections on the date the statements are made and are based upon
a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant
business, economic, competitive, political and social uncertainties
and contingencies. The assumptions used in the preparation of such
statements, although considered reasonable at the time of
preparation, may prove to be imprecise. Many factors, both known
and unknown, could cause actual results, performance, or
achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied
by such forward-looking statements and the parties have made
assumptions and estimates based on or related to many of these
factors. Such factors include, without limitation, the risks
identified in the Company's annual information form
dated April 8, 2020 and available on SEDAR
at www.sedar.com . Readers should not place undue
reliance on the forward-looking statements and information
contained in this release. The Company does not assume any
obligation to update the forward-looking statements of beliefs,
opinions, projections, or other factors, should they change, except
as required by law.
SOURCE Galaxy Digital Holdings Ltd.