Triton Liquid, a digital assets hedge fund funded and incubated by New York-based VC firm FJ Labs, has set up its global headquarters in Abu Dhabi having received in-principal approval from the Abu Dhabi Global Market's (ADGM) Financial Services Regulator (FSRA).

As well as a $30m investment from FJ Labs, which has previously invested in in companies including Alibaba, Stripe, Revolut, Klarna and financial wellness company ABHI, Triton Liquid is aiming to raise an additional $50in capital this year.

According to a press statement, the fund, which has been launched by Founder and CIO Chris Keshian plus a five-strong team, will provide "a tailored platform for Middle Eastern investors seeking to capitalise on the growth of blockchain technology and cryptocurrency adoption".

Unlike traditional venture and equity investment models, where performance projects are based on retrospective quarterly or half-yearly earnings, Triton Liquid tracks live, open-source data, generating real-time insights and forecasts, equipping investors with far greater oversight and transparency.

This strategy was developed by the firm's digital assets-native team, which has previously built crypto products, decentralised exchanges, and digital asset hedge funds.

As of March 2024, Triton has realised a 108% return since inception, after increasing its market exposure from 20% to 100% since November 2023.

Investments made by the fund to date include Synthetix, a derivatives liquidity protocol for decentralised finance, and blockchain platform Solana.

In a statement Keshian said: “The liquid digital assets market has evolved rapidly over the last ten years, and now sits at the cross-section of venture investing and public equity investing.

"The UAE is undoubtedly becoming the global hub for digital assets and the broader DeFi industry. The fintech ecosystem in the UAE is more vibrant than ever, and we look forward to playing an active role in its continued evolution."