Crypto hedge fund LedgerPrime has transformed itself and adopted a new name according to Bloomberg.
After being forced to close its doors due to FTX’s bankruptcy, LedgerPrime restarted with several former employees under the name MNNC Group. The new team includes Shiliang Tang, who served as chief investment officer at LedgerPrime.
“The Cayman Islands-registered multi-strategy hedge fund raised an undisclosed amount from backers, including those who invested in LedgerPrime, a subsidiary of Ledger Holdings, which was acquired by FTX US in 2021,” the report said .
MNNC Group has 11 employees, most of whom come from LedgerPrime, the report also said. At its peak, LedgerPrime managed as much as $400 million and had an average annualized return of around 40%, MNNC Group told Bloomberg.
Earlier this year, LedgerPrime alumni Zaheer Ebtikar and Michael Churchouse also launched a new fund called Split Capital. This fund focuses on a longer term view with an emphasis on liquid token investments.
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