Crypto infrastructure company PolySign has raised $53 million in its Series C funding round.

Fundraising began in the first quarter of 2022 and ended in early June.

Investors included hedge fund Brevan Howard Asset Management, Cowen Digital, the cryptocurrency arm of investment bank Cowen, and market-making trading firm GSR.

In addition to equity financing, PolySign has secured a $25 million loan from private equity firm Boathouse Capital.

The company’s CEO, Jack McDonald, noted that the amount of funds raised through the lending exceeded what was originally planned.

“We’re confident in the future of our business, so we didn’t want to share a larger equity stake with investors,” he added.

Macdonald declined to comment on the firm’s assessment of the final round.

The funds raised will be used to acquire crypto fund manager MG Stover and expand PolySign’s custody and custody business. The company manages the latter through a subsidiary of Standard Custody & Trust Company, which holds a cryptocurrency trust license from the New York State Department of Financial Services.

Priority regions include Europe, the Middle East and Asia.

Recall that in May 2021 PolySign completed its $53 million Series B funding round.

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