Abra Appoints Serial Entrepreneur and Legendary Investor Shervin Pishevar as Co-Chairman Following Period of Significant Growth
2024年9月22日 - 2:04AM
ビジネスワイヤ(英語)
Abra, a global platform for digital asset prime services and
wealth management, announced today the appointment of Shervin
Pishevar, a veteran venture capitalist, angel investor and
philanthropist, to its Board of Directors as Co-Chairman. Shervin
will work directly with Bill Barhydt, Abra’s Founder and CEO, who
will also become Co-Chairman, on strategic initiatives to
capitalize on the strong growth that Abra has achieved this
year.
Pishevar is a seasoned entrepreneur and top investor with a
career that spans multiple industries. Pishevar has helped start
the Hyperloop, Social Gaming, On Demand, Cloud Kitchen and New
Cities-Network States industries. He is the co-founder of Sherpa
Capital, a leading venture capital firm with $650m under management
with investments in the likes of Uber, Airbnb, SpaceX, Slack,
Robinhood and others. He was also co-founder and first Executive
Chairman of Virgin Hyperloop One, a company based on Elon Musk‘s
Hyperloop concept. At Uber he was an early member of the Board of
Directors as well as a strategic advisor to the board and founder
Travis Kalanick. Prior to co-founding Sherpa Capital, he was a
Managing Director at Menlo Ventures where he led the Series B
financing in Uber and also invested in Tumblr, Warby Parker and
many other prominent start-ups. Pishevar has been a four-time Midas
List investor, which ranks the top 100 VCs by returns, and has
distributed over $3B in profits to investors across all of his
investments and funds with an average 88% IRR.
Shervin joins Abra at a pivotal time in the company’s growth.
Since the launch of Abra's integrated offerings — Abra Prime for
institutions, Abra Private for private clients and Abra Treasury
for corporates — the company has experienced strong growth across
all three business lines. Over the past six months:
- Abra Private has grown from zero to ~$250M in assets under
management in less than six months from a mixture of private
clients, trusts and financial advisors. Popular products include
loans against BTC and a proprietary BTC yield strategy.
- Abra Prime has expanded its capabilities with the launch of an
OTC options trading solution and has grown its client base by 48%
from a mixture of crypto miners, ATMs and funds.
- Abra Treasury was also recently awarded Best Treasury
Management Solution from Hedgeweek for their groundbreaking work in
making separately managed accounts available to corporations and
nonprofits as a safe way to add Bitcoin and crypto to company
balance sheets.
“We’re delighted to welcome Shervin Pishevar to our board as
Co-Chairman following one of the most exciting periods in Abra’s
history,” said Bill Barhydt, CEO of Abra. “Shervin is not only one
of the most successful venture capitalists in Silicon Valley but is
also a true believer in the power of Bitcoin and crypto to create a
future of financial services that is digital, open and borderless.
His experience and expertise will be invaluable as we continue to
expand the company, invest in growth and even look to make
strategic acquisitions in the future.”
Pishevar added, “I have known Bill and the Abra team for many
years, and he and his team have created one of the only digital
asset firms to have weathered multiple market cycles. I am excited
to join Abra during such a dynamic time in its evolution and look
forward to working closely with the team to realize their vision of
bringing banking, investing and lending into the 21st century. We
have many exciting announcements to come that systemically change
how the world works.”
About Abra
Abra is a global platform for digital asset prime services and
wealth management, leveraging trusted DeFi expertise to connect the
on-chain and off-chain ecosystems for private clients and
institutions. By integrating trading, borrowing, lending, yield
services and asset management into one offering, all underpinned by
institutional risk management, Abra provides clients with
actionable insights and a competitive edge. Abra’s client base
includes a diverse range of private clients, family offices, hedge
funds, venture capital and crypto infrastructure firms.
https://www.abra.com/. More information about Abra Capital
Management LP, including our Form ADV Part 2A Brochure, is
available at the SEC’s website, http://www.adviserinfo.sec.gov.
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