Two former workers of distributed ledger startup Ripple are raising cash to get a cryptocurrency hedge fund, public records show.
Twin filings to the U.S. Securities and Exchange Commission (SEC) dated Jan. 25 and 26 show that co-founders Tim Lewkow and Eli Lang are looking for funds to back Fractal Investments, which invests in crypto-assets, per its official site. The business dates back to final summer time and has maintained a public profile primarily via its Twitter account.
Lang is formerly inventive director for Ripple, getting begun working for the San Francisco-based startup in 2012. Lewkow worked for Ripple from December 2013 until June of final year, most recently serving as integration engineering manager, as outlined by his LinkedIn account.
The filings detail two vehicles, Fractal: Virtual Currency Investment Fund I LP and Fractal: Private Investment Fund LP, each of which are incorporated in Delaware. Neither filings indicate just how much cash is becoming raised for either entity.
The developments probably highlight the continued drive to establish hedge funds and also other economic entities amidst a period of heightened activity in cryptocurrency markets and improvement around the tech a lot more broadly. Like other individuals, Fractal is seeking to invest inside the growing ecosystem of digitized assets.