ITI Funds announced that it attracted $5mn from two major investment firms, Moscow-based Da Vinci Capital and Paris-based Mantra Investment Partners, and unnamed private investors, East-West Digital News (EWDN) reports.
Established in 2015 and registered in Guernsey, ITI Funds defines itself as “a modern buy-side intermediary, advisory and asset management” company. The firm has launched 10 funds, some of them being Russia-focused. These funds include algorithmic and hedge funds, special situations, PE funds and ETFs with total assets under management exceeding $100mn.
ITI funds increasingly focuses on crypto asset investments. “We are combining the attractiveness of alternative and crypto assets with blue chip service providers, allowing institutional investors to play on wider markets,” according to CEO Gleb Yakovlev.
Earlier this year, ITI Funds launched “one of the world’s first institutional crypto fund,” intended to “make crypto investment available to institutional investors.” With $70mn worth of assets, this fund invests in early-stage projects through private sales as well as in liquid assets.
In an exchange with East-West Digital News, ITI Funds declined to disclose the name of this fund but provided details about their second crypto fund. Dubbed ‘ITI Funds Crypto Index Fund,’ it focuses on index tracking, covering “30 crypto-assets with the largest market capitalization.” Compliant with Luxembourg law, it is open to professional investors via conventional purchases of fund shares.
Crypto investment infrastructure
Aiming to become “a unique gateway to crypto asset classes for institutional asset managers,” ITI Funds plans to launch “a dedicated crypto fund infrastructure” in December 2018, as well as several other crypto access products in the course of next year.
“There is a lack of state-of-the-art and client-oriented products for fund managers and investors in hedge funds, especially for investments in digital assets,” stated Oleg Jelezko, Managing Partner at Da Vinci Capital.
He believes that ITI Funds can “fill this gap in financial infrastructure and benefit from the rapid development of alternative and digital asset markets.”
ITI Funds’ teams operate from Guernsey, London, Luxembourg and Moscow. Its funds are registered in Caymans, Guernsey and Luxembourg and traded on the Irish, London and Moscow stock exchanges.
The firm also provides professional investors and asset managers with infrastructure and technology products.