Former LedgerPrime personnel have initiated Split Capital, a hedge fund focusing on long-term investments in liquid digital tokens.
The venture was initiated by LedgerPrime alumni Zaheer Ebtikar and Michael Churchouse, along with Nai Boonkongkird. Shiliang Tang, the former chief investment officer at LedgerPrime, will advise the fund.
Reported first by Fortune, Split Capital presents a unique approach to its investment strategy. Unlike many venture capital firms active in crypto, which tend to divest quickly once digital assets become liquid, Split Capital aims to take a longer-term perspective on token investments. This strategy is intended for investors willing to commit to the crypto market over an extended period.
In demonstrating the firm’s investment focus, Ebtikar referred to past recommendations made by his team, including tokens such as Solana, Lido, and Synapse. Notably, the defunct crypto exchange FTX acquired LedgerPrime in 2021.
The new fund has secured backing from notable investors such as Novi Loren, UTXO Management, and Dan Matuszewski of CMS Holdings. However, the fund size has not been disclosed due to regulatory constraints.
Ebtikar worked as a portfolio manager there until September 2023, and Churchouse, formerly of Nickel Digital Asset Management’s defi investment team, brought industry experience to Split Capital.