Key Takeaways
- • LedgerPrime, a digital-asset hedge fund that was part of the collapsed FTX empire, has relaunched under the new name MNNC Group, according to Bloomberg.
- • MNNC Group is a Cayman Islands-registered, multi-strategy hedge fund that has raised an undisclosed amount from backers, including investors who previously backed LedgerPrime.
- • LedgerPrime was a subsidiary of Ledger Holdings, which FTX US acquired in 2021.
Summary
LedgerPrime, a digital-asset hedge fund that was part of the collapsed FTX empire, has returned under a new name, according to Bloomberg, which reported the restart on February 29, 2024. The vehicle is now known as MNNC Group, a multi-strategy hedge fund registered in the Cayman Islands.
According to the report, MNNC Group has raised an undisclosed sum from backers, including investors who had previously put money into LedgerPrime. LedgerPrime was a subsidiary of Ledger Holdings, which FTX US acquired in 2021. The article does not disclose the size of the raise, the fund's target assets, or its strategy details beyond its multi-strategy designation.
The relaunch comes after the collapse of FTX, the crypto exchange whose failure in late 2022 led to extensive investor losses across the digital-asset sector. The report's focus is the continuity of the fund's backer base under a new corporate identity rather than any change in the fund's operations as described in the source.
According to the report, MNNC Group has raised an undisclosed sum from backers, including investors who had previously put money into LedgerPrime. LedgerPrime was a subsidiary of Ledger Holdings, which FTX US acquired in 2021. The article does not disclose the size of the raise, the fund's target assets, or its strategy details beyond its multi-strategy designation.
The relaunch comes after the collapse of FTX, the crypto exchange whose failure in late 2022 led to extensive investor losses across the digital-asset sector. The report's focus is the continuity of the fund's backer base under a new corporate identity rather than any change in the fund's operations as described in the source.
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