Other industry highlights:

• Singapore Based $1B+ Fund Platform Appoints New PM

• DAT Backs Newly Issued $15M AUM Tokenized Fund of Funds

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^{🗞 Allocator Developments 🗞}

Singapore Based $1B+ Fund Platform Appoints New PM — Pilgrim Partners Asia, a fund platform overseeing more than $1B in AUM, has appointed Herbert Lau as Portfolio Manager, overseeing investments across XSquared Capital and the Pilgrim Enhanced Return Fund. XSquared Capital is a family office portfolio investing opportunistically across equities, hedge funds, venture capital, and Web3 ventures, while the Pilgrim Enhanced Return Fund is a global multi-strategy fund of hedge funds allocating to external managers across Asia, the US, and Europe. Pilgrim Partners Asia also hosts several crypto-native strategies on its platform, including Peakwater Volatility Alpha, Matrixport's BIT Frontier Fund, and AlphaGrep Global Absolute Return Fund.

DAT Backs Newly Issued $15M AUM Tokenized Fund of Funds — CMCC Global, a digital asset investment manager overseeing $500M in AUM, completed a $15M capital raise across two tokenized multi-manager hedge funds, the Liberty Bitcoin Accumulation Fund (LBAF) and Crest (CREST). Both funds employ market-neutral quantitative strategies, including funding-rate arbitrage, cross-venue arbitrage, and market making. LBAF targets 8–12% net annualised returns denominated in bitcoin, while CREST seeks US dollar returns above Treasury bill yields. BTCS S.A., a publicly listed digital asset treasury firm, participated as an anchor investor in LBAF.

Large Crypto Multi-Strat Strengthens Trading Infra with Recent Partnership — Liquid Mercury, an institutional digital asset trading technology provider, has partnered with AlgoQuant Asset Management to provide trading infrastructure for its multi-strategy quantitative investment platform. The integration will give AlgoQuant access to institutional liquidity, low-latency execution, and middle- and back-office tools to support 24/7 trading operations across global digital asset markets. While AlgoQuant does not publicly disclose its AUM, the firm is often cited as one of the largest quantitative crypto allocators in the industry.

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🔥 What’s Hot in Crypto 🔥

$150M Crypto Fund Secures Anchor Investor for New Fund of Funds Launch

According to materials obtained by Crypto Funds Watch, Amphibian Capital, a digital asset investment manager overseeing more than $150M in projected assets under management as of July 2025, is targeting an early Q1 2027 launch for its new Dynamic Alpha fund, an AI-driven quantitative, multi-manager strategy designed to deliver enhanced risk-adjusted returns. The materials indicate that the firm has secured an anchor investor, subject to final documentation and closing, as it continues testing strategies and strengthening its investment infrastructure ahead of launch.

Dynamic Alpha is targeting 20–30% net annualized returns, a Sharpe ratio of 2–3 or higher, and a maximum drawdown of 10%. The fund is expected to launch with 7–10 underlying managers and strategies, expanding from five previously confirmed, and will initially offer BTC- and USD-denominated share classes. GP capital deployed to test the strategies generated approximately 11.51% in gross returns during Q3 2026, following a 4% gross return in July across two live strategies.

Initially anticipated for the second half of 2026, with a subsequent target date of November 1, the launch timeline has shifted to early 2027 as the firm continues refining its portfolio construction, infrastructure, and risk management capabilities. Dynamic Alpha will complement Amphibian Capital's existing USD Alpha, BTC Alpha, and ETH Alpha offerings, while potentially serving as an additional return driver within its established Alpha portfolios.

The launch forms part of a broader effort to protect existing investor capital, streamline the firm's Alpha products, and restore historical return profiles. Amphibian Capital plans to concentrate its existing portfolios around its highest-conviction managers while selectively allocating 5–20% or more of Alpha portfolio capital to Dynamic Alpha strategies.

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🍿 Blockchain Bytes 🍿

• Apollo Crypto reported strong Q3 performance, with its Frontier Fund gaining 74% and Flagship Fund returning 60%. Year-to-date, the funds outperformed their respective benchmarks by 100% and 30%. The Frontier Fund targets early-stage blockchain, DeFi, and AI infrastructure opportunities, while the Flagship Fund takes a multi-strategy approach to digital assets (Pratik Kala)

• Truvius, a digital asset investment technology firm specializing in systematic investing, was acquired by Galaxy in July 2026. The acquisition brings Truvius’ quantitative investment technology and team into Galaxy’s platform, supporting its institutional-grade digital asset investment offerings. Truvius co-founder Connor Farley has since joined Oberland Capital as Director of Quantitative Research (Truvius)

• Starkiller Capital is preparing to launch a blockchain-based statistical arbitrage fund after its flagship fund gained 104.7% through the first three quarters of 2026. The firm also partnered with CrowdCent to launch a market-neutral crypto trading vault, with backtests indicating a +25% annualized return, 1.8 Sharpe ratio and 8% maximum drawdown (Leigh Drogen)

• Theo Quant announced the launch of Capital Sharpe Fund SPC and its first segregated portfolio, Capital Sharpe SP, backed by $30M raised from investors. The Cayman Islands-based digital asset fund will pursue quantitative trading, arbitrage, relative value, and tokenized real-world asset strategies, with Capital Sharpe Investment serving as investment manager (Theo Quant)

• Andreessen Horowitz is rebranding a16z Crypto as a16z Frontier, expanding its investment mandate beyond digital assets into AI and other emerging technologies while maintaining its crypto focus. The firm has raised nearly $10B across five crypto funds since 2018, including a $2.2B fund in May 2026, down from $4.5B in 2022 (dealroom.co)

• M1 Capital, an Amsterdam-based digital asset hedge fund specializing in market-neutral strategies, unveiled a new brand identity and website emphasizing institutional investor trust. CFW previously reported in January 2026 that the firm managed over $200M in assets (M1 Capital)

• Metalayer Ventures raised $3.75M from three investors for Metalayer Digital Fund I, a Cayman Islands-domiciled, open-ended fund launched in May 2026. The vehicle targets digital asset infrastructure, including stablecoins, payments, tokenization, and institutional crypto trading (FormDSignal)

• CoinShares, a publicly listed digital asset manager with nearly $7B in AUM, is entering DeFi with the launch of onchain yield vaults through Safe. Built on Railnet, the vaults will allow investors to deposit stablecoins into strategies managed by CoinShares, accessing lending protocols including Aave and Morpho (Louis Tellier)

• Hashrock, a Brazil-based market-neutral SMA trading firm with a 32-month track record, is targeting $20M in AUM in 2027 after generating a 10.87% YTD return (Hashrock)

• Galaxy appointed Alan Keegan as Co-Portfolio Manager of its Onchain Yield Fund. Keegan previously managed M31 Capital’s Asymmetric Private Liquidity Fund, a hybrid strategy combining crypto venture investments with delta-neutral positioning to target venture-like returns while limiting principal risk (Alan Keegan)

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