SCOOP: Edge Capital Management, a newer crypto hedge fund, has raised $66.78 million across two of its DeFi-focused funds. BrandyBetz reports
, which has very little public information, has raised $66.78 million across two decentralized finance -focused funds, according to regulatory filings on Oct. 19 with the U.S. Securities and Exchange Commission .has raised about $28 million from eight investors since sales opened on Feb. 1 of this year, according to the filing. The firm plans for the offering to last for more than one year for the fund. The other Cayman Islands-basedhas sold about $38.
The firm is likely planning to raise further for both funds as it didn’t set any limits for their targeted raise, according to the SEC filings. Venture capital investments in crypto fell 26% year-over-year in the first half of 2022 as the bear market emerged. However, the number of deal sizes remained stable, suggesting smaller but steady investments are still being made amid the crypto winter. The shift also opened the door for smaller VCs and other investment firms to find their footing.Edge Capital has a very small online presence through their website and lacks Twitter presence.
The firm was founded in early 2020 by Vadim Khramov and headquartered in Boca Raton, Florida, according to LinkedIn and SEC filings. While Khramov refers to the firm as a hedge fund, the SEC filings don’t have that box checked, instead indicating “other” for the type of investment fund.
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