The Rebranded MNNC Group Emerges with New Funding and Former Team Members
The digital asset hedge fund LedgerPrime has undergone a rebranding and is now known as MNNC Group. The company, based in the Cayman Islands, has successfully secured funding from previous backers of LedgerPrime. However, the exact amount of funding has not been disclosed.
MNNC Group retains a core team of former LedgerPrime employees, including its former Chief Investment Officer, Shiliang Tang. The new venture aims to continue the work of its predecessor and has hired 11 individuals, most of whom were part of the original LedgerPrime staff.
Transitioning from LedgerPrime to Family Office and Ceasing Operations
In September 2022, LedgerPrime underwent a transition and became a family office for Alameda Research, which is the sibling trading company of FTX. Unfortunately, following the bankruptcy filings of FTX and Alameda, LedgerPrime was forced to cease its operations.
During its peak, LedgerPrime managed assets worth nearly $400 million and achieved an impressive average annualized return of around 40%.
A New Chapter as MNNC Group
Now operating under the name MNNC Group, the company intends to carry on the work it started as LedgerPrime. With a team comprising mainly former LedgerPrime staff members, MNNC Group seeks to make a mark in the digital asset industry.
Additionally, two former LedgerPrime alumni, Zaheer Ebtikar and Michael Churchouse, have established Split Capital. This fund focuses on long-term perspectives, particularly in liquid token investments.
MNNC Group: Continuing the Legacy of Success
MNNC Group, formerly known as LedgerPrime, has successfully rebranded and secured new funding to continue its operations. With a team consisting of former LedgerPrime employees, MNNC Group is poised to make an impact in the digital asset industry. The companyโs commitment to long-term perspectives and liquid token investments sets it apart from its competitors.
The rebranding comes after LedgerPrimeโs transition into a family office for Alameda Research. Unfortunately, following the bankruptcy filings of FTX and Alameda, LedgerPrime was forced to cease its operations. However, the core team of former employees remained intact and established MNNC Group to carry on their work.
Under the new name, MNNC Group aims to build upon the success achieved during its time as LedgerPrime. The company managed assets worth nearly $400 million and achieved an impressive average annualized return of around 40%. With the support of its previous backers, MNNC Group is ready to take on new challenges and opportunities in the digital asset space.
New Funding and Team Members Ensure a Promising Future
MNNC Group has secured funding from its previous backers, ensuring financial stability for its operations. Although the exact amount of funding remains undisclosed, this support demonstrates confidence in the companyโs potential.
The core team of former LedgerPrime employees, including Chief Investment Officer Shiliang Tang, brings valuable expertise and experience to MNNC Group. Their knowledge of the digital asset industry will contribute to the companyโs growth and success.
Furthermore, Zaheer Ebtikar and Michael Churchouse, both former LedgerPrime alumni, have launched Split Capital. This fund takes a long-term perspective and focuses on liquid token investments. Their involvement adds another layer of expertise to MNNC Groupโs offerings.
Hot Take: MNNC Groupโs Rebranding Signals a Fresh Start
MNNC Groupโs rebranding represents a fresh start for the company, allowing it to continue its work in the digital asset industry. With new funding and a core team of experienced professionals, MNNC Group is well-positioned to thrive in the evolving market.
The transition from LedgerPrime to MNNC Group was necessitated by the bankruptcy filings of FTX and Alameda, but it has not deterred the team from pursuing their goals. By retaining key staff members and securing support from previous backers, MNNC Group is ready to embark on this new chapter.
As the company moves forward, its commitment to long-term perspectives and liquid token investments sets it apart. With Split Capital led by former LedgerPrime alumni Zaheer Ebtikar and Michael Churchouse, MNNC Group is equipped with diverse expertise to navigate the challenges and opportunities that lie ahead.
Overall, MNNC Groupโs rebranding signifies resilience and adaptability. The companyโs determination to continue its mission in the digital asset space sets a positive tone for its future endeavors.
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