With Target Size of $300 Million, New Fund Focuses on Trading Cryptocurrencies at Opportune Entry Point as Digital Asset Industry Hits Inflection Moment
New York, NY, June 6, 2023 – Hivemind Capital Partners, a digital asset investment manager founded by ex-Citi senior trading executive Matt Zhang, today announced the launch of its new, open-ended Liquid Opportunity Fund, with a target size of $300 million, dedicated to trading cryptocurrencies in the secondary market. The fund provides institutional investors and qualified high net-worth individuals select exposure to the digital asset space at an opportune entry point.
“From our firm’s inception, Hivemind has been committed to helping institutions navigate the complex world of digital asset investing. With our new fund, we’re creating an opportunity for investors to take advantage of what we believe is a prime entry point in an accessible and scalable way,” said Zhang, Founder and Managing Partner at Hivemind. “We believe the liquid cryptocurrency market offers interesting opportunities, in the near future, as the next Bitcoin halving approaches and the interest rates cycle starts to pivot. Having already secured approximately $60 million, and with a goal of $300 million target size, Hivemind continues to demonstrate its ability to raise capital in a challenging market.”
Despite the recent market uncertainties, the digital asset space has seen a sign of life as Bitcoin and Ethereum prices have recently each returned more than 50 percent YTD. Hivemind’s new fund will focus on trading large market-cap tokens by utilizing a multi-strategy approach that includes token investing, staking, yield generation, and event-driven trades. Managed by experts with in-depth knowledge of institutional-grade risk management policies, the fund exemplifies Hivemind's commitment to bringing fresh capital to the digital asset space.
“Hivemind is committed to the growth of the digital asset space and web3, and we are here to stay. While others may choose to scale back or exit the industry, we are doubling down with hiring and product expansion,” Zhang said. “We are bullish on the long-term prospects of blockchain technology, and we strive to become one of the largest digital asset investment managers as we continue our goal of scaling up our ability to raise capital and make investments.”
Hivemind’s $1.5B flagship fund, launched in December 2021, focused on venture equity, early-stage and liquid tokens. As Hivemind expands further into more specialized funds, the company’s mission remains focused on identifying ways to offer curated funds across the liquidity and risk spectrum to meet institutional investors’ distinctive and evolving demand.
Hivemind Capital Partners (“Hivemind”) is a digital asset investment firm. Committed to institutionalizing digital asset investing, Hivemind’s team combines crypto-native technology and expertise with institutional-grade risk management and practices. With a thesis-driven and multi-strategy approach, Hivemind’s goal is to unlock the potential of crypto to be an investable asset class by seeking to provide curated and scalable access to institutional investors.
Hivemind Capital Partners, LLC and its affiliates (“Hivemind”) makes investments in digital assets and in blockchain-related companies. This document does not contain any advertisement for Hivemind’s investment advisory services, or any other services or products, whether provided by Hivemind or otherwise. Hivemind is not acting, nor does it purport to act, as an investment adviser or in a fiduciary capacity with respect to any recipient of this release. Information contained herein is believed to be reliable, but no representation is made regarding such information’s fairness, correctness, accuracy, reasonableness or completeness. Hivemind has no obligation to update this document or notify any recipient if any matter or statement contained herein changes or becomes inaccurate. Nothing contained herein constitutes any representation or warranty as to future performance of any instrument or asset. Forward-looking statements should not be relied upon, and performance or outcomes may differ materially from what is contemplated herein. Past performance is not a guarantee of future outcomes. Opinions included here incorporate subjective judgments or may be based on incomplete information. This document does not constitute or contain an offer to sell or a solicitation to buy any securities or a recommendation to enter into any transaction, and no reliance should be placed on this document in making investment decisions.