Key Takeaways
- • Crypto hedge fund managers JellyC and Trovio Asset Management have merged to attract institutional allocations, including from pension funds, according to Bloomberg.
- • JellyC, based in Australia, holds the majority share in the combined entity, which is aimed at scaling operations for larger investors particularly in the Asia-Pacific region.
- • The merged business targets a 150% increase in combined assets under management, with a goal of reaching AUD250m by mid-2026.
- • Co-Founder Michael Prendiville says reaching scale is necessary to secure allocations from Australian superannuation funds, which hold AUD3.9tn ($2.6tn) in assets.
- • Trovio CEO Jon Deane says Trovio will eventually exit its shareholding in the merged firm, though no timeline has been set.
Summary
Crypto hedge fund managers JellyC and Trovio Asset Management have merged in a strategic move intended to attract allocations from institutional investors, including pension funds, according to a report by Bloomberg. The combination is designed to help the firms scale their operations so they can appeal to larger investors, with a particular focus on the Asia-Pacific region. Australia-based JellyC will hold the majority share in the combined entity.
Co-Founder Michael Prendiville emphasized the importance of reaching scale to secure allocations from large investors, including Australia's superannuation funds. "If we're not at capacity, we won't get the allocation," he said, as cited by Bloomberg. Australia's AUD3.9tn ($2.6tn) pension industry has so far been cautious about investing in digital assets, but Prendiville believes this will change as the country strengthens its crypto regulations.
The merged business aims to grow its combined assets under management by 150%, targeting AUD250m by mid-2026. Trovio CEO Jon Deane said the firm will eventually exit its shareholding in the merged firm, although no specific timeline has been set.
Co-Founder Michael Prendiville emphasized the importance of reaching scale to secure allocations from large investors, including Australia's superannuation funds. "If we're not at capacity, we won't get the allocation," he said, as cited by Bloomberg. Australia's AUD3.9tn ($2.6tn) pension industry has so far been cautious about investing in digital assets, but Prendiville believes this will change as the country strengthens its crypto regulations.
The merged business aims to grow its combined assets under management by 150%, targeting AUD250m by mid-2026. Trovio CEO Jon Deane said the firm will eventually exit its shareholding in the merged firm, although no specific timeline has been set.
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