Cardano developer house IOHK has made a six-figure investment into Wave Financial, its partner for a new $20 million Cardano fund.
- An IOHK spokesperson confirmed the investment had just been made, but declined to comment on the equity arrangement and any plans to make further commits into Wave.
- CoinDesk understands the sum isn’t big enough for IOHK, a Hong Kong-based company, to have significant sway over Wave’s corporate governance.
- Charles Hoskinson, IOHK’s CEO, will become an advisor to Wave Financial as part of the deal.
- IOHK invested $10 million into a joint “cFund” to support startups and early-stage businesses working on Cardano and other IOHK tech initiatives last week.
- Wave Financial, a private company based in Los Angeles and London, said it would raise the other $10 million from external investors.