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Alternative Market Briefing

Stonegate digital asset hedge fund up 87% since April

Thursday, November 08, 2018

B.G., Opalesque Geneva:

Since the Stonegate Diversified Digital Asset Master Fund opened to outside investors on 1st April 2018, it has returned an estimated 86.89% (gross), with an inception to date estimated return of 625%.

According to documents seen by Opalesque, the fund offers investors diversified exposure to the blockchain technology and cryptocurrency asset class. The diversified multi-strategy fund deploys multiple long/short discretionary and systematic trading strategies, invests in ICOs and pre-ICOs as well as digital asset mining. It also acts as a fund of funds that invests into other digital asset funds.

It is up 6.71% (gross) YTD from January to end-September, compared to -53% for the HFR Cryptocurrency Index. Last year, it returned 580% (gross, from October to December) compared to 191% for the HFR index.

The fund is managed out of Stonegate Digital Asset Capital Management in Atlanta, GA, by John McCorvey III. Mr. McCorvey, a Harvard alumni, is the founder and CEO of Blockchain Financial Group and Stonegate Digital Capital Group, a private equity firm that owns a family of blockchain technology and digital asset investment management companies. He is also the founder and CEO of Stonegate Global, a financial services company.

The firm is currently looking to raise an additional $25m. Once this objective has been reached, the fund will be closed to outside investors.

Related articles: 11.May.2018 ......................

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