NGC Ventures, the multi-strategy crypto fund of one of the world's leading blockchain investment firms, has announced a strategic investment in Troy Network, the decentralized protocol for global trading and settlement. NGC led the multimillion-dollar investment with BlockVC. Troy Trade, derived from Troy Network, is a global prime broker providing crypto brokerage services for institutional clients and professional traders with revolutionary trading products.
"Despite progression within the industry, the absence of prime brokers has limited the potential of the crypto asset market. Merging strong financial backgrounds and crypto market expertise, I believe Troy will soon become the leading prime broker in this industry," said Tony Gu, Founding Partner at NGC Ventures. "As a multi-strategy investment firm, NGC Ventures implements a diverse approach across the crypto landscape including exchanges, banking services, data, derivatives, media and public blockchain projects. NGC Ventures will provide Troy with ecological support and industrial synergy to deliver better experiences."
Troy's leadership team comes from long-standing financial powerhouses such as Credit Suisse and CITIC Group, leading exchanges, Huobi and OKEX and academic institutions including MIT. Troy has integrated over 30 leading global crypto exchanges and more than 500 cryptocurrencies. Troy's AUM has reached 25,000 BTC and achieved $100 million daily trading volume. The enthusiasm from institutional users will position Troy as a powerful player in the prime broker business while remaining at the forefront of the crypto industry. Troy will continue to facilitate extensive and complex trading needs by developing innovative services including a master-level trading platform and quantitative solutions.
"The crypto asset market is at the edge of a Paradigm Shift. Institutional players from traditional markets entering the race and have been consistently pursuing market dominance. Meanwhile, the 'primitive' infrastructure and services are facing significant challenges," said Kevin Hsu, Founding Partner at BlockVC. "Troy offers a full stack of customized prime broker solutions including global liquidity, margin financing, asset management and data analytics. The team has leveraged its expertise to achieve astonishing growth. Troy will play an essential role as the revolutionary infrastructure in this Paradigm Shift."
NGC Ventures II, is a multi-strategy crypto fund that aims to generate long-term value through early-stage investments, while also creating recurring income through staking and quantitative trading teams. NGC Ventures II has been a key contributor to projects such as Elrond, ChainX, Piexgo, and PromeOeus.