Key Takeaways
- • Edge Capital Management, a DeFi-focused crypto hedge fund, raised two funds totaling $66.8 million, according to SEC filings dated October 19, 2022.
- • The raise comprises a Cayman Islands offshore fund with $38.6 million from eight investors and a Delaware-incorporated fund with $28.1 million from six investors.
- • Neither filing sets a capital raise limit, leaving open the possibility that Edge Capital will seek additional capital.
- • Founded in May 2020 by former Bank of America director Vadim Khramov, the firm is based in Florida and publicly discloses little beyond its macro-investing mandate.
- • The raise follows larger crypto fund closes in 2022, including Blocktower's $150 million fund and Brevan Howard's digital assets vehicle, which raised more than $1 billion in August.
Summary
Edge Capital Management, a DeFi-focused hedge fund, has raised two separate funds totaling $66.8 million, according to Securities and Exchange Commission filings dated October 19, 2022, as reported by The Block. The larger vehicle is an offshore fund in the Cayman Islands that drew $38.6 million from eight investors. The second fund is incorporated in Delaware and raised $28.1 million from six investors.
Public information about the firm is limited. Edge Capital describes itself as "an alternative investment manager focused on digital assets, blockchain and decentralized finance (DeFi) markets" and says it employs macro-investing strategies. A previous LinkedIn job posting sought a DeFi analyst "responsible for identifying and investing in various DeFi protocols that can deliver high returns in yield-farming and macro strategies." The firm was founded in May 2020 by former Bank of America director Vadim Khramov, and the filings place its base in Florida.
In both filings, the capital raise limits were left unset, meaning the manager could continue to raise capital beyond the amounts disclosed so far.
The raise adds to a wave of institutional interest in crypto-focused hedge funds in 2022. Blocktower, a firm with a history as a hedge fund, launched a $150 million fund backed by BPI France and Mass Mutual earlier in October. In August, Brevan Howard Asset Management's digital assets-focused vehicle raised more than $1 billion from institutional investors.
Public information about the firm is limited. Edge Capital describes itself as "an alternative investment manager focused on digital assets, blockchain and decentralized finance (DeFi) markets" and says it employs macro-investing strategies. A previous LinkedIn job posting sought a DeFi analyst "responsible for identifying and investing in various DeFi protocols that can deliver high returns in yield-farming and macro strategies." The firm was founded in May 2020 by former Bank of America director Vadim Khramov, and the filings place its base in Florida.
In both filings, the capital raise limits were left unset, meaning the manager could continue to raise capital beyond the amounts disclosed so far.
The raise adds to a wave of institutional interest in crypto-focused hedge funds in 2022. Blocktower, a firm with a history as a hedge fund, launched a $150 million fund backed by BPI France and Mass Mutual earlier in October. In August, Brevan Howard Asset Management's digital assets-focused vehicle raised more than $1 billion from institutional investors.
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