Arca Welcomes CFO/CCO and New Head of Product for Arca Labs
Arca, an asset management firm focused on investing and innovating in the digital assets space, today announced two key appointments, setting the stage for the next phase of development of the company.
LOS ANGELES, Feb. 1, 2021 /PRNewswire-PRWeb/ -- Arca, an asset management firm focused on investing and innovating in the digital assets space, today announced two key appointments, setting the stage for the next phase of development of the company. Industry veteran Vance Sanders has joined the company as Chief Financial Officer and Chief Compliance Officer, and Nikesh Dalal has joined as Head of Product for Arca's innovation division, Arca Labs.
Vance formerly served as Chief Financial Officer, Chief Technology Officer and Chief Operations Officer of Equinox Financial Group, LLC. He was responsible for directing corporate finance, fund reporting, fund operations, risk management, internal controls and information systems. He also served as Treasurer/Principal Financial Executive of the Equinox Funds Trust.
"We are thrilled to have Vance on board and for the opportunity to tap his experience with alternative investments," said Arca CEO Rayne Steinberg. "Arca continues to attract strong and growing investor and distribution partner interest during this exciting phase of our expansion, and Vance will be critical to helping us pursue new opportunities in digital assets and continually evaluate the strategic landscape."
In his role with Arca Labs, Nikesh will work to design and launch digital securities for investors and enterprises, integrate the ecosystems that surround them, and bring innovative, first-to-market digital securities that still work within today's regulatory structure.
Nikesh was recently a Program Director at Yieldstreet where he spearheaded the assembly and launch of a registered Closed-End Fund and evaluated blockchain solutions. Previously he was a Solutions Architect focused on Enterprise use-cases with blockchain software firm ConsenSys. Nikesh held prior positions at Corvil and Travelers focused on enterprise technology, consultative sales and technical advisory.
"Adding a professional like Nikesh will allow us to deepen our bench as we continue to innovate our digital assets product suite. His cross-industry and blockchain experience combined with his fund assembly knowledge will further our mission to bring trust, transparency and efficiency to digital securities for institutions and investors," said Jerald David, President of Arca Labs.
These new appointments come on the heels of a banner year for Arca. In early January, Arca announced it had raised $10M in Series A funding. Last year, its hedge fund doubled its assets every quarter, and new investor products are anticipated in Q1. Arca Labs' continues to make news with its recent announcement that it has added five custody options for subscribers to its Arca US Treasury Fund. In December of 2020, Arca Labs entered into partnerships with leading custodians Anchorage, Gemini, Komainu, Ledger and TokenSoft to support ArCoin, the digital shares issued on the blockchain by investing in the Arca US Treasury Fund ("the Fund"). The Fund is registered under the Investment Company Act of 1940. These partnerships mark the first time a registered digital security could be widely stored (managed, self-managed, third party managed, and self custodied) by multiple digital custody providers.
About Arca
Founded in 2018, Arca is an asset management firm, focused on investing and innovating in the digital assets space. Arca's products offer investors the ability to thoughtfully invest in digital assets utilizing blockchain technology. Arca is forging a path for investors in the traditional finance sector to join the digital future, while adhering to the regulatory, legal and operational standards that are used and applied in the traditional finance sector. Arca is composed of two core business divisions—Arca Funds, whose flagship hedge fund strategy, the Arca Digital Assets Fund, invests in securities via tokens, equities, bonds and other instruments issued by companies in the digital asset ecosystem; and Arca Labs, the innovation division of Arca, pioneers innovative products in a digital structure that aim to revolutionize how people think about investments. Learn more about Arca: https://ar.ca
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SOURCE Arca
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