Re7 Capital and Republic Crypto launched a fund for investing in liquid tokens on April 1, with the goal of raising $100 million.
The fund, named RxR Opportunities Fund, provides qualified investors with the ability to get exposure to a group of hand-picked crypto tokens, focusing on those with medium-sized market caps.
“Yes we will go for the smaller names but it’s not speculative in nature and it’s not memecoins, basically where all you have is speculation. We’re focused on building a position with a desire to hold for one to three years,” said Evgeny Gokhberg, founder of Re7 Capital, in an interview.
RxR Opportunities Fund is an open-ended fund that has already seen some commitments come through. Gokhberg was not able to disclose how much had already been committed.
The fund has a one-year lock-up with liquidity then unlocked on a quarterly basis. He said that 15% of the fund could go into private deals, such as over-the-counter transactions, with a respectable discount.
Cayman Islands-based Re7 is a venture capital firm that has been running a market-neutral DeFi yield fund since 2021, and a fund focused on increasing ether since February. The new fund adds a third option with a different risk-return appetite for its clients.
Gokhberg noted that Re7’s DeFi fund didn’t lose money last year — despite a widespread industry and price collapse — ending in the green before fees.
Republic Crypto is a web3 advisory and crypto infrastructure firm.
Correction: This report has been updated to reflect that the liquid token fund has a raise goal of $100 million.
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