Two former employees at Ripple just announced that they are raising money for a cryptocurrency hedge fund, according to public records. The co-founders Tim Lewkow and Eli Lang are seeking funds to back a company named Fractal Investments which invests in crypto assets. According to its official website, the announcement is new even though the company has maintained a public profile since last summer.
As you may know, Lang is the creative director behind Ripple who began working for the San Francisco-based startup back in 2012. Lewkow, on the other hand, worked for Ripple from 2013 until last year as an integration engineering manager.
Their new filings detail two actual vehicles: Fractal: Virtual Currency Investment Fund and Fractal: Private Investment Fund LP. Both of them are incorporated in Delaware and neither indicate how much money is being raised for each of them.
The new developments also highlight the need to establish a hedge fund in the crypto space. Even though there were such attempts before, Fractal is looking to invest in the growing ecosystem of digitized assets through a new perspective. Even as traditional investors move in the space, others are pushing further.
Other news reported last week show that a group of former Wall Street vets raised $50 million to create a fund of funds focused on virtual currencies. So, it is safe to say that crypto hedge funds are the future of investments.
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