Hedge Fund Unveils AI Strategy to Temper Crypto Swings (AFR.com)
A US hedge fund is braving this year’s sharp decline in the value of cryptocurrencies to launch two investment strategies aimed at reducing the volatility inherent in digital tokens. AlphaTrAI, a Los Angeles-based hedge fund, has begun raising capital for two portfolios that will invest in a broad basket of the most popular cryptocurrencies, including bitcoin and ethereum.
Hedge Fund Founder: ‘No Better Industry To Bet on Over the Next Decade Than Crypto’ (Crypto Globe)
On Monday (June 13), with most top 50 cryptoassets suffering double-digit percentage losses in the past 24-hour period, Ryan Watkins, who is a Co-Founder of crypto-focused investment firm Pangea Fund Management, talked about the importance of “not missing the forest for the trees.” Watkins, who is a former Senior Research Analyst at Messari, and his friend Daniel Cheung, started their own crypto hedge fund — Pangea Fund Management, which is backed by private investment firm Bain Capital — last month.
Axon Capital’s Interest-Rate Call Pays Off (Institutional Investor)
The hedge fund founded by Goldman alum Dinakar Singh is up by double-digits through May. In early 2021, Dinakar Singh, the founder of Axon Capital, warned investors in a client letter that interest rates would be rising, “and massively.”“We think sharply rising rates is both an opportunity and a risk,” Axon said in the letter, obtained by Institutional Investor at the time.
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Biospring Partners Brings in $245m for the Debut Fund (Opalesque)
New B2B life science investor Biospring Partners announced the closing of its debut fund with north of $245 million in capital commitments from pension plans, fund of funds, endowments and foundations, and family offices. According to a press release from the growth equity firm, it aims to invest in companies with the potential to fundamentally shift how technology is utilized across the life sciences sector. Co-Founders and Managing Partners, Michelle Dipp, M.D., Ph.D., and Jennifer Lum, believe that life sciences innovation is accelerating due to increasing access to sequencing, cloud computing, and machine learning technologies in addition to significant advancements in synthetic biology and gene editing, it said.
Former Lone Pine Exec Poaches Third Point and Maverick Talent for New Hedge Fund (Hedge Week)
Mala Gaonkar, a former managing director at Lone Pine Capital has recruited staff from rivals Third Point and Maverick Capital for her forthcoming hedge fund launch, according to a report by Bloomberg. Gaonkar has so far built a 13-strong team for SurgoCap Partners, which is expected to launch early next year with at least $1 billion in assets. Notable additions for the new firm’s investment team include Anand Krishnamurthy, former sector head of financials at Maverick, and John Kaszuba, who will oversee data science and analytics having spent 13-years at Third Point. Jason Hong meanwhile, who spent almost 10 years at Third Point, will focus on the application of technology to health-care companies and industrials.
