Ciarán Hynes, Managing Partner of COSIMO X, on Digital Assets and the Suite

COSIMO X co-founder and managing partner Ciarán Hynes was at the Digital Asset Summit in New York this week. The firm he heads specializes in blockchain technology and digital assets. He is also a serial entrepreneur and an investor. We caught up with him to learn more about his vision for the event, the industry and the companies he works with.

Hi Ciarán, what brings you to New York?

Well, I’m attending the Digital Asset Summit here. It’s great to be back at the conference after COVID has disrupted so much over the past year and a half. It’s so nice to get back to network with people from the industry and learn more about new developments.

What are your thoughts on the Digital Asset Summit so far?

The first thing I would say is that this is a very institutionally focused conference. There are a lot of traditional financial firms here that you would never have seen before at a crypto conferences or a digital asset summit. There is a lot of discussion about how to link DeFi, decentralized finance, with the world of traditional finance. There is also a lot of talk about performance. And then, of course, the usual discourse on the various risks involved, the regulatory risk. It has been a very well run and very interesting conference so far.

Do you think this is a pivotal year for institutional interest in digital assets?

You have the big names here. BNY Mellon is there, Goldman Sachs is there… They are more recent players in this market. It’s interesting to see these types of businesses here as well as JP Morgan.

What brings your company, COSIMO X, to the Digital Asset Summit?
We are one of the main investors. We have the world’s first and only tokenized venture capital fund that invests in the blockchain space. We do a lot in DeFi and finance. We are here to learn and keep abreast of developments in the industry and to stay on top of things on behalf of our LPs. This is mainly the reason why we are here.

COSIMO X is an investor in ndau. Tell us how the recent adaptive digital currency partnership with Investview went.

The partnership with Investview has been fantastic. Thanks to its subsidiary iGenius, we now have more than 10,000 ndau portfolio holders in more than 40 countries. iGenius has been extremely successful in bringing ndau into its extensive marketing network around the world. There are nearly 40,000 forts at this point.

They have been really successful in promoting ndau to new audiences and emerging markets. In fact, as we speak, my colleague Rob Frasca will be speaking to a 5,000-person conference in Egypt, along with another 25,000 virtual tunes. It was organized by the iGenius group from that part of the world. It’s pretty amazing how they can pull their network together for something like ndau, which is designed to be a real store of long term value.

What prompted Investview to invest in ndau?
They are very experienced in this area as they are one of the biggest Bitcoin miners in the United States. When we started working with them on ndau they said, “Well, we have a lot of Bitcoin on our balance sheet. Why shouldn’t we have ndau as a beautiful, diverse piece? This is why they invested directly in ndau itself. In fact, they make their team use ndau as well. They are very strong partners for us and we are delighted to work with them.

What can we expect from COSIMO X and its investments in the near future?
We continue to be very active in making investments. We recently invested in a company called Integral, a decentralized exchange. They were just launched today and they have increased by about 4 times compared to what we invested. This is just a point I would like to highlight which is very relevant at the moment.

What we want to do is find other interesting companies. We’re early stage investors, so we want to find emerging companies in the space that we think can really go to different places. It is certainly something that we will continue to do.

Then, of course, because we are a permanent fund, we will continue to raise funds. There is huge interest in this space now. I think by the end of this month we will be close to 30 million assets under management, down from 12 million less than a year ago. This is another thing that we are really going to focus on on the COSIMO side: bringing in more and more institutions, quite frankly.

We are very fortunate to have the Rochester Institute of Technology as one of our main LPs. They arrived very early. We would like to see more university endowments and more institutions come into the fund.

Tell us about the addition of ndau to the Messari registry.
For those who don’t know, Messari is truly the Bloomberg of the crypto world. We are delighted that ndau is listed there and that they will follow developments across the entire ndau ecosystem. Once again, very happy with this partnership.

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