Ex-LedgerPrime employees start liquid token hedge fund called Split Capital

Bitget App

Trade smarter

The Block2024/01/19 16:05

By:RT Watson

LedgerPrime alumni Zaheer Ebtikar and Michael Churchouse have launched a new fund called Split Capital that aims to take a longer view with a focus on liquid token investments.

Ex-LedgerPrime employees start liquid token hedge fund called Split Capital image 0

Former employees of crypto trading firm LedgerPrime have launched a new hedge fund that will focus on liquid tokens.

Christened Split Capital, the fund was founded by LedgerPrime alumni Zaheer Ebtikar and Michael Churchouse, along with Nai Boonkongkird. LedgerPrime former chief investment officer Shiliang Tang will serve as an advisor.

"It's been a long time coming but I'm thrilled to announce the official launch of Split Capital, a liquid digital assets fund," Ebtikar posted to X on Friday. "Split Capital, as a concept, has been in my mind for years now and it's been a dream to finally see it come to fruition."

Primary backers of the new fund include Novi Loren, UTXO Management and Dan Matuszewski, co-founder of CMS Holdings. Split Capital would not say how big the fund is, citing regulatory restrictions.

Fortune first reported the news earlier on Friday.

Taking the long view

Split Capital's investment strategy will involve taking a longer view on token investments, opposed to divesting as soon as digital assets become liquid, a common strategy among many venture capital firms active in crypto, according to Ebtikar. Split Capital is for investors with the appetite to invest for the longer term, the new fund said.

As an example of which type of tokens Split Capital might focus on, Ebtikar pointed to a recommendation he and his team made in December 2022, when they recommended buying Solana, Lido and Synapse.

Defunct crypto exchange FTX acquired LedgerPrime in 2021. Ebtikar worked as a portfolio manager for a year before leaving in September 2023, according to his LinkedIn profile. Churchouse also used to work on the DeFi investment team at Nickel Digital Asset Management.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

European Central Bank President Christine Lagarde said bitcoin is not an option as a reserve asset for the Eurozone’s central bank reserves, citing liquidity, security and regulatory concerns.Meanwhile, the Czech National Bank approved a proposal from Governor Aleš Michl to assess diversifying some of its country’s reserves into bitcoin.

The Block•2025/01/30 21:34

'Inevitable collapse': Trump’s crypto push sparks concern at Paul Singer's Elliott Management: FT

The hedge fund said in a new investor letter that the “inevitable collapse” of the crypto bubble “could wreak havoc,” according to the Financial Times.Elliott’s Paul Singer has never been a fan of crypto, telling WSJ in 2023 that cryptocurrencies are “completely lacking in any value.”

The Block•2025/01/30 21:34