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LedgerPrime Former Employees Launch Hedge Fund Focused on Liquid Tokens!! Former employees of crypto trading firm LedgerPrime have launched a new hedge fund focused on liquid tokens.
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The fund, called Split Capital, was founded by former LedgerPrime employees Zaheer Ebtikar and Michael Churchouse, along with Nai Boonkongkird. Shiliang Tang, LedgerPrime’s former chief investment officer, will serve as a consultant.
“It’s been a long time coming, but I’m excited to announce the official launch of Split Capital, our liquid digital asset fund,” Ebtikar said in a statement on Friday. “Split Capital has been a concept in my mind for years, and it’s a dream to see it finally come to fruition.”
Key backers of the new fund include Novi Loren, UTXO Management, and Dan Matuszewski, co-founder of CMS Holdings. Split Capital is not disclosing the size of the fund, citing regulatory restrictions.
Fortune first reported the news early Friday.
Long-Term View (LedgerPrime)
According to Ebtikar, Split Capital’s investment strategy will involve taking a longer-term view on token investments, rather than selling digital assets as soon as they become liquid, which is a common strategy among many venture capital firms active in crypto. The new fund is aimed at investors who are willing to invest for the long term, he said.
Ebtikar pointed to a recommendation he and his team made in December 2022 to buy Solana, Lido, and Synapse as an example of the types of token types Split Capital could focus on.
FTX, the defunct crypto exchange, acquired LedgerPrime in 2021. According to his LinkedIn profile, Ebtikar worked as a portfolio manager for a year before leaving in September 2023. Churchouse was also working on the DeFi investment team at Nickel Digital Asset Management.