Crescent Crypto Asset Management, a cryptocurrency index fund manager just announced the completion of its Series A financing and launch of its offshore Cayman fund. FBG Capital led the fundraising round. The crypto index fund was co-founded by Goldman Sachs alumnis Chris Matta, Ali Hassan and Michael Kazley in 2017.
Founded in 2015, FBG has established itself as an industry leader in a variety of blockchain-related business operations ranging from token investments, principal trading, over-the-counter (“OTC”) trading, as well as strategic investments.
Utilizing its strong global presence, FBG will help Crescent grow assets under management for its suite of passive funds both in the US and abroad. In addition, FBG will leverage its network to help Crescent develop and list multi-coin products on traditional financial exchanges.
The newly raised capital will be used to expanding the team by hiring senior leadership across sales and business development functions with a focus on talent from bulge bracket investment banking firms and leading ETF providers who share the firm's vision and passion for bringing cryptocurrencies to the mainstream.
The Offshore Fund has a minimum investment of $250,000 and is currently accepting subscriptions, with a management fee of 2% and quarterly redemptions.
Crescent Crypto’s flagship strategy is the Crescent 20 Index Fund – a privately managed cryptocurrency index fund focused on capturing the returns of the investment grade crypto universe with a passive, rules-based approach. The strategy adjusts for volatility, liquidity, and safe storage capabilities and is designed to be a complexity-free access vehicle for investors.
The Crescent 20 Index covers approximately 90% of the total market capitalization of the digital asset market. The fund is held in 100% cold storage and is rebalanced monthly. The onshore fund is limited to accredited investors with a minimum investment of $100,000.