Elwood Technologies Explores Sale of Business Amid Shift in Focus

• Elwood in talks to sell part of business, focusing on portfolio and risk management services.
• Reorganization of Alan Howard's crypto investments leads to changes at Elwood.
• Aptos' APT Token down 52% in April after booming March, according to VanEck.
• Elwood re-evaluates roadmap, shifts focus to portfolio and risk management software-as-a-service.
• Elwood made $11.5 million in revenue in 2023 but reported a $16.9 million loss.
• Alan Howard's reorganization of crypto investments leads to changes at Elwood.

Summary :
Elwood Technologies, a cryptocurrency-focused trade execution and risk management platform backed by hedge fund manager Alan Howard, is reportedly in talks to sell part of its business. The company is said to be reevaluating its roadmap and shifting its focus towards its existing portfolio management and risk management software-as-a-service business, while reducing emphasis on the trading side. Elwood, which employs around 100 staff across multiple locations, offers trade execution and portfolio management software, as well as risk management services such as exposure tracking and collateral monitoring. In 2023, the company generated $11.5 million in revenue but reported a loss of $16.9 million after paying partners $23.3 million. The potential sale comes as Howard reorganizes his portfolio of crypto investments, with previous reports suggesting he plans to sell his stakes in Bitpanda and Copper to concentrate on Brevan Howard Digital. Elwood Technologies raised $70 million in Series A funding in 2022, with Goldman Sachs and Dawn Capital leading the investment round and other notable investors including Barclays and Galaxy Digital Ventures. Elwood and Howard have not provided official comments on the matter.

Sources :

- Coindesk