Deus X, Bridgetower join forces in $250M crypto venture in Middle East

  • A $250 million crypto infrastructure platform, Bridgetower Middle East, is poised to provide services for institutional investors in the Middle East, covering digital asset investment, staking, and trading.
  • Bridgetower Middle East is led by Bridgetower and Deus X, and will operate from the Abu Dhabi Global Market.

A forthcoming crypto infrastructure platform, backed by private equity firms Deus X Capital and Bridgetower Capital with an investment of $250 million, aims to offer institutional investors in the Middle East services encompassing digital asset investment, staking, and trading.

Bridgetower Middle East, newly founded

According to a collaborative statement made on February 8, the newly established entity, Bridgetower Middle East, will be directed by Tim Grant, CEO of Deus X, and Cory Pugh, CEO of Bridgetower. Its main base of operations will be situated within the Abu Dhabi Global Market, a designated free economic zone located in the capital of the United Arab Emirates (UAE).

Established in October 2023, Deus X is a specialised investment and operational enterprise boasting an initial asset base of $1 billion. It notably spearheaded a $5.5 million investment round for Saltwater Games, a Web3 gaming company.

The United Arab Emirates, encompassing Abu Dhabi and Dubai, has positioned itself as a global hub for digital assets, enticing foreign investors and businesses to set up local operations.

Also read: A $500 million win-win investment: VinFast enters India

Goals and investment

According to Cointelegraph, Deus X CEO Tim Grant stated that the initiative is geared towards setting up vital infrastructure in the Middle East to fulfill the demand for artificial intelligence (AI) graphics processing unit (GPU) computing capabilities.

In addition, both companies show their interest in the investment of UAE’s digital asset ecosystem, with the possibility of exploring opportunities for a public listing on the Abu Dhabi Stock Exchange (ADX).

Sylvia-Shen

Sylvia Shen

Sylvia Shen, a news reporter at BTW media dedicated in Fintech and Blockchain. She graduated from University of California, Davis. Send tips to s.shen@btw.media.

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