Key Takeaways
- • Joe Naggar, a former senior partner at GoldenTree Asset Management, has launched Feynman Point Asset Management, a crypto-focused hedge fund with approximately $300m in assets, spun out from New York investment firm Republic, according to Forbes.
- • Naggar spent 16 years at GoldenTree, where he oversaw parts of its $61bn credit portfolio, and built the firm's digital assets team in 2022.
- • According to Feynman, backers including L1D, a $600m Swiss fund, and Blockchain Investment Group have earned an annualised net return of more than 42% since inception in 2022.
- • Key positions include an early purchase of the Grayscale Bitcoin Trust (GBTC) at a 40% discount, early exposure to Hyperliquid, and an equity stake in Ripple Labs.
- • The fund has invested across more than a dozen listed digital asset treasury (DAT) companies, including BitMine Immersion Technologies, SharpLink Gaming, and Twenty One Capital.
Summary
Joe Naggar, a former senior partner at GoldenTree Asset Management, has launched Feynman Point Asset Management, a new crypto-focused hedge fund with approximately $300m under management, according to a report by Forbes and as reported by Hedgeweek. The fund was spun out from New York investment firm Republic.
Naggar spent 16 years at GoldenTree, overseeing parts of the firm's $61bn credit portfolio. He has long been a prominent crypto investor, mining bitcoin as early as 2013 and backing early projects including Stacks, Algorand, and Coinbase. In 2022 he built a digital assets team within GoldenTree that combined a macro trading approach with institutional-grade risk management. After the market turmoil that followed the collapse of Celsius, Voyager Digital, and FTX, GoldenTree sold the crypto unit to Republic. The same team has now established Feynman Point under its own banner, maintaining its focus on digital assets and frontier technologies.
According to Feynman, backers including L1D, a $600m Swiss fund, and Blockchain Investment Group in New York have earned an annualised net return of more than 42% since the strategy's inception in 2022. Notable wins cited by the firm include the purchase of the Grayscale Bitcoin Trust (GBTC) at a 40% discount prior to its conversion to an ETF, early exposure to decentralised exchange Hyperliquid, and an equity investment in Ripple Labs, whose valuation has risen following the resolution of its SEC case.
Naggar has also positioned the fund within the emerging digital asset treasury (DAT) trend, investing across more than a dozen listed companies that accumulate crypto on their balance sheets, including BitMine Immersion Technologies, SharpLink Gaming, and Twenty One Capital.
Naggar spent 16 years at GoldenTree, overseeing parts of the firm's $61bn credit portfolio. He has long been a prominent crypto investor, mining bitcoin as early as 2013 and backing early projects including Stacks, Algorand, and Coinbase. In 2022 he built a digital assets team within GoldenTree that combined a macro trading approach with institutional-grade risk management. After the market turmoil that followed the collapse of Celsius, Voyager Digital, and FTX, GoldenTree sold the crypto unit to Republic. The same team has now established Feynman Point under its own banner, maintaining its focus on digital assets and frontier technologies.
According to Feynman, backers including L1D, a $600m Swiss fund, and Blockchain Investment Group in New York have earned an annualised net return of more than 42% since the strategy's inception in 2022. Notable wins cited by the firm include the purchase of the Grayscale Bitcoin Trust (GBTC) at a 40% discount prior to its conversion to an ETF, early exposure to decentralised exchange Hyperliquid, and an equity investment in Ripple Labs, whose valuation has risen following the resolution of its SEC case.
Naggar has also positioned the fund within the emerging digital asset treasury (DAT) trend, investing across more than a dozen listed companies that accumulate crypto on their balance sheets, including BitMine Immersion Technologies, SharpLink Gaming, and Twenty One Capital.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.