Key Takeaways
- • Triton Liquid, a digital assets hedge fund backed by New York-based FJ Labs, has established its global headquarters in Abu Dhabi and received an In-Principal Approval for a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).
- • According to the fund, it realized a 108% return since inception as of March 2024, after raising its market exposure from 20% to 100% since November 2023.
- • The fund targets Middle East investors seeking access to liquid, institutional-grade digital asset projects, citing MENA on-chain crypto value of $389.8 billion between July 2022 and June 2023 per Chainalysis data.
- • Triton's strategy combines venture capital-style due diligence with proprietary data dashboards covering 24 digital asset verticals, aiming to deliver venture-like returns with public-market liquidity.
- • Chris Keshian, founder and CIO and formerly FJ Labs' Head of Liquid Digital Assets, will lead regional build-out and business growth from Abu Dhabi.
Summary
Triton Liquid, a digital assets hedge fund, has established its global headquarters in Abu Dhabi and received an In-Principal Approval for a Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). The fund is funded and incubated by New York-based FJ Labs, whose investments include Alibaba, Betterment, Stripe, Revolut, Klarna, and ABHI. According to the announcement, the launch is intended to give Middle East investors a tailored platform to access liquid, institutional-grade digital asset projects.
The firm cites the UAE's regulatory environment and fintech focus as motivation for the move. Referencing 2023 Chainalysis data, the announcement notes that the Middle East and North Africa region recorded $389.8 billion in on-chain crypto value between July 2022 and June 2023, roughly 7.2% of global transaction volume.
Triton describes its methodology as combining venture capital fundamentals with proprietary data analysis to invest in liquid tokens across the digital asset landscape. The firm says it has built dashboards over the past two years tracking metrics across 24 digital asset verticals, and produces 20-plus page deal memos for each project. Unlike traditional models that rely on quarterly or half-yearly earnings, the firm states it tracks live, open-source data to generate real-time insights.
As of March 2024, Triton reported a 108% return since inception, following an increase in market exposure from 20% to 100% since November 2023. The firm says its team is digital-asset native, with prior experience building crypto products, decentralized exchanges and digital asset hedge funds.
Chris Keshian, founder and CIO, is responsible for building and scaling operations in the region. Keshian has been investing in cryptocurrency since 2013, co-founded a fiat gateway onto Ethereum in 2014, and established a long/short crypto-focused hedge fund in San Francisco in 2016.
The firm cites the UAE's regulatory environment and fintech focus as motivation for the move. Referencing 2023 Chainalysis data, the announcement notes that the Middle East and North Africa region recorded $389.8 billion in on-chain crypto value between July 2022 and June 2023, roughly 7.2% of global transaction volume.
Triton describes its methodology as combining venture capital fundamentals with proprietary data analysis to invest in liquid tokens across the digital asset landscape. The firm says it has built dashboards over the past two years tracking metrics across 24 digital asset verticals, and produces 20-plus page deal memos for each project. Unlike traditional models that rely on quarterly or half-yearly earnings, the firm states it tracks live, open-source data to generate real-time insights.
As of March 2024, Triton reported a 108% return since inception, following an increase in market exposure from 20% to 100% since November 2023. The firm says its team is digital-asset native, with prior experience building crypto products, decentralized exchanges and digital asset hedge funds.
Chris Keshian, founder and CIO, is responsible for building and scaling operations in the region. Keshian has been investing in cryptocurrency since 2013, co-founded a fiat gateway onto Ethereum in 2014, and established a long/short crypto-focused hedge fund in San Francisco in 2016.
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