Former Point72 Portfolio Manager Launches Crypto Hedge Fund this October
Cryptovest
Published Sep 24, 2018 08:21AM ET
Updated Sep 24, 2018 09:41AM ET
Former Point72 Portfolio Manager Launches Crypto Hedge Fund this October
Travis Kling, who worked for Point72 – a fund owned by billionaire Steven Cohen, plans to start his own fund that will rely on cryptocurrencies. He came up with the plan last year when the crypto space, led by Bitcoin, was peaking in December. This was when he left Cohen’s fund to start from scratch. The digital asset market has lost over 60% of its value since then, but Kling hasn’t given up on his project.
Kling intends to launch his crypto fund on October 1 of this year with capital from partners. The Delaware-based hedge fund will be called Ikigai, a Japanese term that describes the concept behind “a reason for being.” He plans to inject $15 million more capital on November 1. Foreign investors will also be able to get access to Ikigai through a Cayman Islands-based channel.
By the end of the second quarter of 2019, Kling wants to grow the fund’s tok...
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