Highlights
- Crypto firm Hypersphere launched a new fund, Atlas.
- The $130 million fund will deploy a Wall Street strategy and a two-step approach.
- This comes as VC activities in the crypto market gain momentum.
Crypto VC firm Hypersphere has rolled out a fund with $130 million in assets under management (AUM). The Atlas fund will adopt Wall Street strategies to generate profits for in investors in the crypto market. This comes amid the increasing participation of VC firms in the market following a bullish upswing in the market in recent months.
Hypersphere Launches Atlas
Hypersphere announced the fund on July 10 to provide a return to investors in the crypto market. Atlas will deploy Wall Street strategies to raise returns for investors with staff from trading firms Millennium and Bridgewater. It aims to employ the multi-management approach to keep volatility low through strategies.
Among objectives are goals to provide 40% returns to clients by utilizing decentralized finance (DeFi) market making and arbitrage. In addition to these clients can opt into co-investments in private treasury rounds. Hypersphere funded the Atlas in January with $100 million and seeks and has released two broad strategies to allow investors to benefit from its liquid fund program.
Jack Platts, the founder of Hypersphere highlighted that strategy includes two bets in one. These include offering diversified trading methods and looking out for appealing opportunities in the digital asset market. This year, crypto VC firms increased market participation on the heels of the bull run as some assets surged to all-time highs. Bullish market sentiments are known to attract investors due to high prices and increased on-chain activities.
Company Seeks Expansion
Amid the lucrative crypto market, Hypersphere has plans to float another venture fund to carter for smaller crypto projects. The firm is expected to raise $75 for the project which is projected to begin operating this fall. Overall, this points to institutional backing for the bullish drive in the crypto market. Several firms have also pointed to interest rate cuts by the Federal Reserve which will see funds flow to risky assets. This would improve inflows to risky assets with digital assets set to benefit.
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