Fidelity Affiliate Joins $3.5 Million Investment in Bitcoin Sleuthing Firm Elementus

Elementus, a startup focused on spotting illicit transactions made with cryptocurrency, today announced raising $3.5 million, partly from a fund linked to Fidelity Investments.

The round was led by Morgan Creek Digital, a venture fund focused on blockchain technology, including cryptocurrency and related tools. Also joining the round was Avon Ventures, a venture capital subsidiary of Devonshire Investors, the private equity arm of Fidelity Investments’ parent company. Fidelity has become one of the first mainstream Wall Street brokerage and investing firms to offer cryptocurrency services.

Other participating funds include Stage 1 Ventures and Robot Ventures.