Crescent Crypto Asset Management, a Jersey City, NJ-based cryptocurrency index fund manager, completed its Series A financing of undisclosed amount.
The round was led by FBG Capital, which, using its global presence, will help Crescent grow assets under management for its suite of passive funds both in the US and abroad.
In addition, FBG will leverage its network to allow the company to develop and list multi-coin products on traditional financial exchanges.
Crescent will also use the funds to expand the team by hiring senior leadership across sales and business development functions with a focus on talent from investment banking firms and ETF providers and to build out a digital asset research and advisory platform.
Led by Michael Kazley, Crescent Crypto Crescent Crypto offers the Crescent 20 Index Fund – a privately managed cryptocurrency index fund focused on capturing the returns of the investment grade crypto universe with a passive, rules-based approach. The strategy adjusts for volatility, liquidity, and safe storage capabilities and is designed to be a complexity-free access vehicle for investors.
The Crescent 20 Index, which covers approximately 90% of the total market capitalization of the digital asset market, is held in 100% cold storage and is rebalanced monthly.
The onshore fund is limited to accredited investors with a minimum investment of $100,000.
The company has also launched its offshore Cayman fund which has a minimum investment of $250,000 and is currently accepting subscriptions, with a management fee of 2% and quarterly redemptions.