Summary
TLDR: After the FTX contagion, crypto hedge fund LedgerPrime rebranded as MNNC Group and successfully raised funding. They launched new funds with promising returns, emphasizing their track record and trustworthiness. The industry is still affected by FTX’s collapse, with Tyr Capital Partners facing legal challenges. FTX is navigating bankruptcy proceedings to repay creditors.
Key Points
1. MNNC Group, formerly known as LedgerPrime, successfully raised an undisclosed amount from backers, including previous investors, showcasing a strong vote of confidence in the firm.
2. The firm launched its flagship quantitative market neutral strategy fund in January, achieving a 4% return by the end of the month. A new directional fund is set to launch in March, indicating growth and expansion for MNNC Group.
3. MNNC Group’s revival can be attributed to its impeccable track record, lack of involvement in the FTX contagion, and the continuity of experienced team members from LedgerPrime. Plans to expand the team and introduce new strategies position the firm for growth in a volatile market.