Crypto investment firm Arca signs letter of intent to merge with BlockTower Capital

Odaily News Digital asset financial institution Arca and crypto investment institution BlockTower Capital have signed a letter of intent for an all-equity transaction. The respective business units of both parties will transition to a unified brand, but BlockTower Venture Capital will remain independent. Arca co-founder and chief investment officer Jeff Dorman pointed out that new investment tools are expected to be launched after the merger. According to venture capital tracking agency DealRooms, BlockTower Capital has invested in Aptos Labs, Dapper Labs and Solana, while Arca's portfolio includes Mintify and Bitwave. (The Block)