Crypto hedge fund manager Re7 Capital is aiming to raise $100m for a new multi-strategy vehicle, with the firm's founder Evgeny Gokhberg set to serve as Chief Investment Officer, according to a report by Financial News.

The report cites unnamed sources familiar with the matter as revealing that the firm plans to attract commitments from a mix of sovereign wealth funds, crypto foundations, family offices and high-net-worth individuals.

Founded in 2021 by former UBS director Gokhberg, London-based Re7 has grown into one of the largest dedicated crypto hedge fund managers, overseeing close to $1bn in assets under management. Earlier this year, the firm secured backing from Hong Kong family office VMS Group. Re7 has also expanded rapidly, tripling its headcount to nearly 30 over the past two years.

The raise comes as institutional investors continue to increase allocations to digital assets amid a strong crypto rally. Syz Capital recently reopened its fund of crypto hedge funds with a target of 2,000 bitcoin (circa $200m), already receiving commitments of around 1,800 BTC.

Crypto markets have surged in 2025, with bitcoin reaching an all-time high above $124,000 this month and ether gaining nearly 30% year-to-date, lifting the overall market capitalisation by more than $700bn since January. Other crypto-focused hedge funds have also reported strong returns, including Tephra Digital (+23% YTD through July) and Edge Capital (+8.3% YTD).