According to co-founder and CEO Edward Chin, the multi-strategy cryptocurrency investment firm Parataxis Capital anticipates tripling the assets under management for its $35.6 million digital yield fund by the end of the year and setting an even more ambitious goal of $500 million by the end of 2023.
The objective was determined during discussions with the firm’s allocators, who assist institutions in making investment choices.
With around $116 million in funds now under custody, Parataxis mainly targets institutional investors including banks, family offices, and pension endowments.
The $6.8 billion pension plan for Fairfax County, the Fairfax County Retirement Systems, announced in August that it would invest $35 million in the market-neutral Parataxis Digital Yield Fund.
One of the earliest U.S. pension funds to invest in cryptocurrency, Fairfax placed a two-part wager on yield cultivation, which is the practice of trying to maximize yields on crypto assets using a range of strategies.
The multi-strategy Absolute Return Fund, which is also managed by Parataxis, changes its strategy to fit the current state of the market. At the time of the latest filing in April, the fund’s assets were valued at $69.5 million.
Additionally, Chin said that the $9.6 million Special Opportunities Fund invests in “promising protocols and token-based technologies” during the seed stage. The firm refers to this as liquid venture capital.
Chin and Thejas Nalval, the company’s chief investment officer, established Parataxis three years ago. Parataxis distinguished itself among the crypto investment market as a wounded veteran-owned small firm.
