Former LedgerPrime personnel have initiated Cut up Capital, a hedge fund specializing in long-term investments in liquid digital tokens.
The enterprise was initiated by LedgerPrime alumni Zaheer Ebtikar and Michael Churchouse, together with Nai Boonkongkird. Shiliang Tang, the previous chief funding officer at LedgerPrime, will advise the fund.
Reported first by Fortune, Cut up Capital presents a novel strategy to its funding technique. In contrast to many enterprise capital corporations energetic in crypto, which are likely to divest shortly as soon as digital belongings turn into liquid, Cut up Capital goals to take a longer-term perspective on token investments. This technique is meant for buyers keen to decide to the crypto market over an prolonged interval.
In demonstrating the agency’s funding focus, Ebtikar referred to previous recommendations made by his workforce, together with tokens corresponding to Solana, Lido, and Synapse. Notably, the defunct crypto alternate FTX acquired LedgerPrime in 2021.
The brand new fund has secured backing from notable buyers corresponding to Novi Loren, UTXO Administration, and Dan Matuszewski of CMS Holdings. Nonetheless, the fund dimension has not been disclosed on account of regulatory constraints.
Ebtikar labored as a portfolio supervisor there till September 2023, and Churchouse, previously of Nickel Digital Asset Administration’s defi funding workforce, introduced trade expertise to Cut up Capital.