Cryptocurrency Fund L.P. is a blockchain-based hedge fund that’s seeking $200 million in an SEC filing. Find out everything you need to know about this hedge fund today in our Cryptocurrency Fund L.P. review.
What Is CryptoCurrency Fund?
Cryptocurrency Fund LP is a new hedge fund focused on blockchain technology. The company recently submitted a Form D to the Securities and Exchange Commission where they revealed they were seeking to raise $200 million.
The fund has a minimum contribution threshold of $100,000 from accredited investors, and requires investors to have at least $5 million net worth.
The fund has attracted some mystery since appearing on the internet in early July 2017. The biggest mystery with Cryptocurrency Fund LP is that there’s virtually no information available online. The company doesn’t even publish its whitepaper freely online: you need to register for an account to gain access. Even after registering for an account, you won’t receive the whitepaper in your email (as the website claims).
However, the creator of the fund claims that this is intentional: the fund cannot legally market itself to investors until after the SEC filing is complete, which is why there’s virtually no information available online at the official website, CryptocurrencyFund.us.
Who’s Behind Crypto Currency Fund?
As mentioned above, there’s limited information about the creators of Cryptocurrency Fund LP available online – which is unusual when a fund is asking for such large-scale investments.
Public registration records show that the SE filing was submitted by the fund’s CEO, Pavlo Savchuk. The venture itself was registered in Las Vegas, Nevada, on June 26, 2017.
The fund is associated with a separate company called Cryptocurrency Capital LLC, which lists Timofii Melnyk and Oleksii Yeharmin as principals.
The company has issued little information about its investment plans or strategies – like whether it will used algorithmic trading strategies or collect a team of high-profile cryptocurrency investment experts.
The only “clue” is that Cryptocurrency Fund LP published a short blog post on Medium in June, where it described blockchain-based assets in a broad, beginner-friendly way. The blog post talked about how today’s cryptocurrency rush is similar to the early days of the internet, and smart investors should take notice. It also discussed why digital tokens were better than gold and other traditional stores of value.
However, in terms of specific investment goals, the blog post described hardly anything.
The Crypto Currency Fund Whitepaper
The Cryptocurrency Fund whitepaper appears to be available through the official website. However, when you try to download the whitepaper, you’ll need to enter your name and email address. The whitepaper is purportedly emailed to your inbox – but you never actually receive it.
It turns out there’s a good reason for that. Coindesk interviewed the fund’s CO, Pavlo Savchuk, over the phone. Savchuk claimed the whitepaper wasn’t available because it was undergoing regulatory approval. Once approval is complete, it will be publicly available online.
In that interview, Savchuk also claimed that the fund is committed to abiding with US authorities. In addition to filing with the SEC, the fund is filing with the National Futures Associates, a self-regulatory organization for the futures industry.
Until those filings occur, the fund is not legally allowed to present offering policies to any potential investors.
Who Is Pavlo Savchuk?
Pavlo Savchuk, also known as Paul Savchuk, is the CEO of Cryptocurrency Fund and appears to be in charge of the fund’s operation. His LinkedIn page reveals that he has previously worked as a foreign trade manager for Ukraine’s Gresa Group, a company that makes renewable energy production equipment.
Savchuk worked there between 2013 and 2015. He later worked as a securities trader for a New York-based trading firm called T3 Trading Group. Savchuk worked at T3 between March and May 2017.
T3 Trading Group, LLC is a registered SEC broker-dealer focused on algorithm-based, automated trading strategies.
CryptoCurrency Fund Conclusion
Ultimately, Cryptocurrency Fund LP is in the early stages of launch. There’s virtually no information about the fund available online – although that’s only because the company cannot legally market itself to investors until it completes its SEC filing.
When that filing is completed, look for more information about Cryptocurrency Fund LP to appear online. However, keep in mind that the fund is only available to those with $5 million+ net worth who are willing to invest a minimum of $100,000.