Ex-UBS MD leaving crypto to start new fund is hot on Abu Dhabi
Another former banking MD has left crypto investment bank Galaxy Digital. This time it's Tim Grant, formerly an MD at UBS in New York who was Galaxy's head of EMEA. His new gig is an interesting one; Grant has launched an "investment and operating company” called Deus X Capital, working in private equity, VC, venture building and fund allocation.
Grant says the purpose of Deus X is to support companies that provide "better access to capital for everyone" and to fix a "creaking" financial system. Its USP is a "unifying element" where portfolio companies are encouraged to interact with each other. For example, it's venture building arm features a digital asset market maker, Alpha Lab 40, which trades with Grant's former employer, Galaxy Digital, which Deus X has also invested in.
The fund operates in three countries: Malta, the UK and the UAE. Grant prioritized the Middle East over areas like Southeast Asia or America because, having ran the Middle East arm of Galaxy, he noticed that "the area was intent on becoming increasingly relevant."
"Abu Dhabi has been so forward-thinking in what it does," Grant said. "You can see an increase in talent available in Abu Dhabi and Dubai that we can build upon." He still calls London "a really important center" and says the fund will be "agnostic" regarding its choice of location but maintains that the fund wants to "accelerate that evolution."
Crypto isn't the only area of fintech Grant wants to invest in. "Not only are we already using AI in our portfolio," he said, "we're looking at investing in financial services companies leveraging AI."
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