Cigrek launches solution for asset managers doing Crypto in Dubai and Europe

Rick Steves

Cigrek Capital is already in discussions with several established digital asset fund managers with a view to launching its first strategies under the new Dubai and EU umbrellas in the autumn. Many of these already have existing Cayman Islands fund structures, but have found that this may not always be suitable for an asset raise.

Cigrek Capital has announced the launch of a fully-regulated solution for managers of digital assets strategies seeking distribution to institutional and HNW investors.

The solution was launched in Europe and Dubai simultaneously as Cigrek aims to help managers pursue distribution in the UAE or Europe, or both. Cigrek expects the first strategies under the new umbrellas will launch to investors in Q4 of this year.

Cigrek platform designed to reach wealthy investors

Fund managers will become advisers to the cells, which sit under a fully regulated umbrella in Dubai. The launch addresses the need investors in the Gulf region have for a local, regulated solution which ticks many of the due diligence boxes they require.

Cigrek will also assist with distribution including initial seed commitments for the individual strategies under the umbrella. New managers will need to demonstrate their investment credentials including a certified track record for the strategy they are pursuing.

Speaking of the Dubai launch, Laura Barscevska, Managing Director with Cigrek Capital, said: “There is already enormous interest for digital assets investment within Dubai, which is fast-becoming one of the leading global hubs in terms of local knowledge and interest in the market. The new platform is designed to match leading investment talent in the digital universe with wealthy investors in the Gulf who want more exposure to this asset class. Our Dubai investment platform has been established to meet the real appetite for a locally-regulated platform which will allow investors to allocate to some of the best cryptocurrency management talent out there. We are already in discussions with some pioneering fund managers in this space which we will be bringing to the Gulf market in due course.”

Cigrek launches EU-based solution for managers of digital assets

Cigrek Capital has launched its fully-regulated, EU-based solution for managers of digital assets strategies seeking distribution to institutional investors. Cigrek’s solution has been designed specifically for managers of established digital funds who are seeking alternative distribution venues.

The new umbrella is based on a fully regulated AIF limited partnership structure and has 10 cells immediately available for use by fund managers. The structure has not previously been available for digital assets managers.

Fund managers will become advisers to the cells, which sit under the fully regulated umbrella. The service also includes an EU depositary. It addresses the need institutional investors have for a more regulated solution which ticks many of the boxes they require.

In regard to the EU platform launch, Barcevska commented: “There is a huge gap in the market for crypto funds that are not just ETFs but actually own and trade crypto and digital assets, however, regulation and jurisdiction, and investor protection have always been a massive issue, especially for regulated wealth managers and Discretionary Fund Managers. Digital assets are still a very new asset class, and there is an understandable level of caution among institutional investors when it comes to accessing these. But the appetite is there – investors would like to allocate more to leading managers in this space, but they want to see a more regulated solution at the same time.”

Cigrek Capital is already in discussions with several established digital asset fund managers with a view to launching its first strategies under the new Dubai and EU umbrellas in the autumn. Many of these already have existing Cayman Islands fund structures, but have found that this may not always be suitable for an asset raise.

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