A crypto hedge fund co-founded by a former Nasdaq strategist is raising $100M

Alpha Sigma Capital, a crypto and blockchain hedge fund co-founded by former managing director of strategy at Nasdaq Global Corporate Solutions Enzo Villani, is raising $100 million.

Announcing the news on Wednesday, Villani said the fund was officially launched in early January, with a focus on investing in crypto and blockchain companies.

“As a hedge fund, we have the flexibility to invest in tokens, debt, equities, and derivatives which allows our investors downside protection while focused on above-market returns,” said Villani.

Andy Cheung, former COO of OKEx and now executive chairman of crypto derivatives exchange ACDX, is one of the advisors for Alpha Sigma Capital. Cheung told The Block that "as more uncertainties surround 2020, we need more innovative products, more variety of assets to help investors steer through the cloud.” 

Alpha Sigma Capital’s current investments include blockchain protocol Factom, decentralized artificial intelligence (AI) platform SingularityNet, and Korean blockchain startup Carry Protocol, among others.

“We don’t have a crystal ball but what we do have is the proven progress our portfolio [companies] are making. They are proving their revenue models, executing on their token economics and delivering real-world value,” said Mike Onghai, co-founder and partner at Alpha Sigma Capital.