Two former employees of Ripple set the capital for a new hedge fund in cryptocurrency. This is evidenced by the applications filed with the Securities and Exchange Commission (SEC) on 25 and 26 January.
Former Ripple employees Tim Lewkow and Eli Lang are seeking funds to create the financial foundation of Fractal Investments,the company that they founded. It should be noted that Fractal Investments started its business in the summer of 2017. According to the information provided on the official website, the company is committed to investing in cryptographic activities. Currently, Fractal Investments draws attention primarily through a Twitter account.
Eli Long has been the creative director of Ripple since 2012. Tim Lukeou has been in the company since December 2013 and has recently held the position of integrating manager.
The papers presented to the SEC reveal the details of two projects registered in the state of Delaware: the virtual currency investment fund “Fractal: Virtual Currency Investment Fund LP” and the private investment fund “Fractal: Private Investment Fund LP”. Information on the amounts that Fractal Investments plans to collect is not disclosed in the documents.
It should be noted that recently the number of hedge funds in cryptocurrency has risen sharply, from 124 in October to 175, which is easily explained by the increase in activity in the cryptocurrency markets and the rapid development of the technology industry.
In late November, TechCrunch founder Michael Arrington announced the creation of a $ 100 million fund in Ripple XRP.
Furthermore, since 2017, virtual currency markets have been taken seriously by traditional investors, who have expressed their support for the fact that the trend will continue.
Recently, the Coinbase exchange announced a collaboration with the main institutional investors supplier, while the banking holding Morgan Stanley and the investment bank Goldman Sachs announced their intention to provide future contracts for selected customers.