Alan Howard-Backed Elwood Technologies in Talks to Sell Part of the Business

Elwood Technologies, the cryptocurrency-focused trade execution and risk management platform backed by billionaire hedge fund manager Alan Howard, is in talks to sell part of the business, according to four people with knowledge of the situation. Elwood has re-evaluated its road map and is focusing on its existing portfolio management and risk management software-as-a-service business and less on the trading side. London-based Elwood employs about 100 staff across offices in the U.K., U.S., Jersey and Singapore. The company made $11.5 million in revenue in 2023 but reported a loss of $16.9 million after paying its partners $23.3 million.

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