A former employee of cryptocurrency trading firm LedgerPrime has launched a new hedge fund focused on liquid tokens.
The fund, Christened Split Capital, was founded by LedgerPrime alumni Zaheer Ebtikar and Michael Churchouse, along with Nai Boonkongkird. Shiliang Tang, former Chief Investment Officer of LedgerPrime, serves as advisor.
“It’s been a long time coming, but we’re excited to announce the official launch of Split Capital, our liquid digital asset fund,” said Ebtikar. Posted in On Friday. “The concept of Split Capital has been on my mind for many years and it has been a dream to finally see it come to life.”
The new fund’s main backer is Dan Matuszewski, co-founder of Novi Loren, UTXO Management and CMS Holdings. Split Capital did not disclose the size of the fund, citing regulatory restrictions.
Fortune first reported the news Friday morning.
Taking a long-term perspective
According to Ebtikar, Split Capital’s investment strategy will involve taking a long-term view on investing in tokens rather than selling digital assets as soon as they become liquid, which is a common strategy for many venture capital firms operating in the cryptocurrency space. Split Capital is for investors who want to invest for the long term, the new fund said.
As examples of the types of tokens Split Capital might focus on, Ebtikar pointed to: suggestion He and his team recommended buying Solana, Lido, and Synapse in December 2022.
Defunct cryptocurrency exchange FTX acquired LedgerPrime in 2021. Ebtikar served as portfolio manager for a year before leaving in September 2023, according to his LinkedIn profile. Churchhouse also served on the DeFi investment team at Nickel Digital Asset Management.
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