MEV Capital Management is launching a new digital assets hedge fund, MEV Capital Stablecoin High-Yield Fund SP, a Cayman Islands vehicle that “deploys and monitors trend-agnostic strategies based on digital assets, seeking to capture yields and timed opportunities”.
The fund, which encompasses on-chain operations to the public ethereum blockchain, interacts with decentralised finance (DeFi) protocols as well as with digital asset derivative and hedging solution providers to achieve market neutrality. The fund has an open-ended structure and is registered with the Cayman Islands Monetary Authority (CIMA), and audited by a CIMA approved auditor.
Subscriptions for the USDC-denominated fund opened this month, with MEV Capital seeking top raise $130 million by the end of 2023. Additionally, the firm is looking to open a High-Yield Fund for an ETH-denominated strategy later this year and extend its activities towards other Layer 2 assets in the future.