DeFi-Focused Edge Capital Management Secures $66.8M Across Two Rounds

Decentralized Finance (DeFi)- focused alternate investment manager Edge Capital Management has generated up to $66.8 million across two funding rounds.

One of them was an offshore fund raised in the Cayman Islands which according to the United States watchdog Securities and Exchange Commission (SEC) was jointly pulled together by eight investors.

The first Cayman Islands fund generated $38.6 million while the second was a Delaware-incorporated fund from six investors amounting to $28.1 million.

Precise details about the funds and hedge fund’s investors are yet to be made public. Owing to the fact that no capital raise limit was fixed for both funds according to the SEC filing, it is suspected that Edge Capital Management is still in the middle of raising more capital.

Headquartered in Florida, Edge Capital Management was founded almost two years ago by former Bank of America president Vadim Khramov. Attempting to describe its core services, the hedge fund stated that:

“We seek to identify untapped opportunities in these markets based on our multidisciplinary expertise in macro trading and analysis, portfolio and risk management, combined with our extensive knowledge and experience in fintech, DeFi and blockchain technologies. 

We apply a proprietary, fundamentally-driven approach to identifying investment opportunities that can deliver consistent returns while providing strong diversification benefits to traditional investment portfolios.”

Edge Capital Seek to Fill Crypto Position

According to a LinkedIn post, Edge Capital advertised for the position of a DeFi Analyst / Crypto Portfolio Manager who will be responsible for identifying and investing in various DeFi protocols that can deliver high returns in yield-farming and macro strategies. The hired professional is meant to work directly with Khramov who is the Chief Information Officer of the firm.

Core knowledge of DeFi and staking in DeFi protocols was posted as part of the job requirement. However, at the time of this writing, the job listing was no longer accepting applications. 

One other funding round in the crypto ecosystem amidst the prevalent extreme harsh market conditions is the recently raised $100 million for developers by the non-profit organization Stellar Development Foundation (SDF). Also, Tiger Global announced its intention to secure $6 billion for its upcoming venture fund