Former Point72 Manager Set to Open Crypto Hedge Fund Next Month
September 21, 2018 – Bloomberg
Travis Kling quit billionaire Steven Cohen’s Point72 fund in December, at the peak of the cryptocurrency boom, to start his own fund focusing on digital assets. Nine months and an over 70 percent selloff later, he’s sticking to the plan.
The fund will be known as Ikigai and launched on Oct. 1 with partners’ capital. He expects to add $15 million of outside capital on Nov. 1. Kling plans to increase Ikigai’s tokens portfolio to $100 million and its venture fund to $33 million by mid 2019, depending on market conditions. The Delaware-based fund will also have a Cayman Islands-based vehicle for foreign investors.