Created: 03.10.2022 17:39
Tim Calveley, CFA, Co-Founder and Managing Partner of AltFi Capital Management Ltd,
AltFi Capital Management Ltd. AltFi Capital Opportunities Ltd. launched, a Bermuda Professional Class B fund.
AltFi was incorporated and is based in Bermuda. AltFi is an alternative investment manager specializing in digital assets.
AltFi offers investors an actively managed diversified portfolio of digital assets, including liquid and venture capital investments, through a single open-ended, non-leveraged fund vehicle.
According to a company statement, “It allows accredited investors to add exposure to digital assets to their portfolio without having to worry about the myriad of concerns investors typically face, including: managing private keys, accessing and making decisions about liquidity.” which digital assets to hold and for how long.”
It continues, “AltFi’s co-founders are Tim Calveley, who spent 25 years in Bermuda in leadership positions in the financial services industry, primarily in the hedge fund industry, and Cooper Jefferson, a Canadian crypto-native business and technology leader.
“Having the opportunity to work with Tim was a natural extension of our previous crypto and venture investing collaborations,” said Mr. Jefferson.
“In addition to our consultants, the AltFi team combines a wealth of experience from traditional financial services and the fast-growing blockchain sector.”
He said that after a comparative analysis, Bermuda was selected as the best jurisdiction to incorporate the company.
He said: “Its reputation as a world-class financial center with a progressive regulatory framework enshrined in the Digital Asset Business Act of 2018; its fintech community and professional service providers all stand out from the alternatives.
“Personally, I’m looking forward to moving to the island full-time to enjoy both the weather and the digital asset-friendly environment.”
Commenting on navigating the crypto bear market, Mr. Calveley added, “AltFi uses a macro, fundamental and technical approach to inform our investment strategy. Macro factors drive our overall outlook, fundamental analysis drives our asset selection, and technical signals drive our entry and exit timing.
“Although the fund was launched in the midst of a deep bear market, AltFi’s macro outlook and technical signals have seen the fund get off to a great start and post strong positive gains.
“With our actively managed strategy and disciplined approach to risk management, we aim to benefit regardless of underlying market conditions.”
AltFi plans to expand into Bermuda and said it is currently in discussions with the BMA about additional digital asset business opportunities that would result in significant growth of its workforce and local operations in Bermuda.
AltFi is advised on legal and regulatory matters by Walkers (Bermuda) Limited and uses Krypton Fund Services as fund administrator.
Premier David Burt said: “The successful launch of AltFi’s crypto hedge fund in Bermuda underscores this government’s commitment to the fintech industry and demonstrates that our investments in emerging industries are beneficial to our economy.
“AltFi is authorized by the Bermuda Monetary Authority as a Class B professional fund under the Investment Funds Act. It’s encouraging to hear that Altfi is in the process of applying for a Digital Asset Business Act license for a second business they plan to launch. Approximately six jobs are expected to be created, with the opportunity for future growth in job creation as both companies grow.”
“We hope this will encourage other innovators to start new businesses in Bermuda that will create jobs and generate additional revenue for the consolidated fund. It’s great to see more companies getting licensed, operating in Bermuda and creating jobs.”