Crypto hedge fund Edge Capital Management, has raised a combined $66.78 million for a US-based fund and a Cayman Islands fund focused on decentralised finance, according to a report by CoinDesk.

The report cites regulatory filings submitted to the US Securities and Exchange Commission on 19 October as revealing that the Edge DeFi Fund LP has raised about $28 million from eight investors since sales opened on 1 February, while the Cayman Islands-based Edge DeFi Offshore Fund has sold about $38.6 million to six investors since opening for sales at the start of October 2021.

Edge Capital hasn't set any fundraising targets for either fund.

According to its website, it plans to seek opportunities in digital assets, blockchain and DeFi, using macro-style investing.

Founder Vadim Khramov refers to the firm as a hedge fund, although the the SEC filings don’t have that box checked, instead indicating “other” for the type of investment fund. Prior to Edge Capital, Khramov was active at various TradFi firms, including a macro hedge fund and Bank of America Merrill Lynch in London, according to his LinkedIn profile.