Triton Liquid, a new digital assets hedge fund has launched in Abu Dhabi following an in-principle approval (IPA) from Abu Dhabi’s Financial Services Regulatory Authority (FSRA) with a target of raising $50 million in additional capital this year.
The New York-based fund is anchored by $30 million from venture capital (VC) fund FJ Labs, with $43 million assets under management at the time of writing. FJ Labs’ previous investments include Alibaba, Stripe, Revolut, Klarna and financial wellness company ABHI.
According to 2023 Chainalysis data, the Middle East and North Africa (MENA) region reported a staggering $389.8 billion in on-chain crypto value between July 2022 and June 2023, representing almost 7.2% of global transaction volume.
Founded by MIT and Princeton alumni, Triton Liquid’s methodology combines fundamental venture capital (VC) principles with deep proprietary data analysis to invest in liquid tokens across the entire digital asset landscape.
“The liquid digital assets market has evolved rapidly over the last ten years, and now sits at the cross-section of venture investing and public equity investing,” said Chris Keshian, Founder and Chief Investment Officer at Triton Liquid.
“Through applying a venture style research process with a public equity style data due diligence and rebalancing process, we have created a strategy which we believe provides the best exposure to the growth and liquidity of this asset class.”
“The UAE’s visionary leadership, financial services pedigree and constant drive for fintech innovation make this market a perfect fit for us”
The fund has built proprietary dashboards to track relevant metrics across 24 digital asset verticals. The technology reportedly allows it to track live, open-source data, generating real-time insights and forecasts, equipping investors with far greater oversight and transparency.
“Digital assets is the ultimate network effect business and a perfect complement to our core efforts,” said Fabrice Grinda, Founder Partner at FJ Labs. “We believe that Triton’s proprietary evaluation process will offer venture-style returns in this emerging asset class, and we are delighted to be part of the Triton story in ADGM’s burgeoning digital assets ecosystem.”
As of March 2024, Triton realized a 108% return since inception, after increasing their market exposure from 20% to 100% since November 2023.
