WebN Group Shuts Doors After Helping Startups Grow

The blockchain incubator founded by billionaire Alan Howard has closed, ending a few years of support for new crypto companies. The studio had funded several projects such as tokenization firm Libre (now KAIO), staking shop Twinstake, infrastructure provider TruFin, and privacy‑focused startup Geometry. In 2023 it also received a private investment from Laser Digital, part of Japanese bank Nomura’s crypto arm. A source close to the decision says the incubator “has completed its mission. ” Some former WebN employees have moved on to Howard’s hedge fund, Brevan Howard. The closure does not signal a retreat from digital assets for the billionaire; he remains convinced that blockchain will integrate with traditional markets.

Last year, Brevan Howard’s crypto fund dropped nearly 30 %, after gains of 52 % in 2024 and 43 % the year before. The firm also reduced its Bitcoin holdings, cutting BlackRock’s iShares Bitcoin Trust position by about 85 %. In 2025 the firm let go of its digital‑assets chief, Gautam Sharma, and spun out a new hedge fund called Nova, managed by former Dragonfly investor Kevin Hu. Despite these moves, a source reports that Brevan Howard stays bullish on digital assets and continues to grow its venture‑capital side, viewing the technology as a long‑term opportunity. Neither WebN Group nor Brevan Howard has commented on the shutdown.

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