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Alternative Market Briefing

Prime Factor Capital launches crypto fund

Thursday, February 28, 2019

Bailey McCann, Opalesque New York for New Managers:

London-based Prime Factor Capital has launched a new hedge fund focused on making investments in cryptocurrencies. The firm has also closed an equity financing round of a half million Euros with Speedinvest, a European Fintech investor. Speedinvest is a pan-European brand of venture capital funds with €200m under management that invests in seed stage technology start-ups.

Entrepreneur First, a European incubator, also participated in the funding round.

The founding team at Prime Factor Nic Niedermowwe, Michael Wong, and Adam Grimsley met at Entrepreneur First and the incubator said it was interested in supporting the program alumni because of their innovative approach to cryptocurrencies.

The new fund will invest in cryptocurrencies with the largest market cap using derivatives to limit investment risk. "We come to this with prior investment management experience and wanted to create something that would appeal to institutional investors," explains Adam Grimsley in an interview with Opalesque New Managers. "Alongside the investment strategy, we've been very focused on creating a fund that has the kind of operational and custodial support that institutions and family offices have come to expect from other asset classes. Our use of derivatives also helps to manage risk levels thereby making it easier for allocations from ris......................

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