Michael Schoengruber, the founder of the fintech company 3Folio, is developing a software as a service solution specially designed for crypto hedge fund managers that allows them to integrate all administrative aspects of their fund’s investment strategy into one place – from monitoring to reporting.
Michael Schoengruber, the founder of the fintech company 3Folio, is developing a software as a service solution specially designed for crypto hedge fund managers that allows them to integrate all administrative aspects of their fund’s investment strategy into one place – from monitoring to reporting.
Schoengruber believes that traditional fund management platforms are not yet able to fully track or manage digital assets like cryptocurrencies, or crypto cash flow strategies like staking or liquidity mining. There are a few options, but all of them require multiple tools and platforms. 3Folio, which is based in Linz and Vienna, Austria, is aiming to provide an economical, all-in-one solution that allows crypto funds to manage and track their assets.
3Folio provides the ability to determine a daily net asset value (NAV) and automatically record a transaction book for more than 30 blockchains, including the ability to manage multiple exchanges and fiat accounts in one place.
The company has already signed up Austria’s first crypto fund as a client and is a great use case for accountants and tax advisors who have to report crypto taxes and often have little experience with the topic. Together with his team, Schoengruber has focused on developing a product that also fits the needs of classic hedge funds that already have or plan to have crypto assets in their portfolios.
