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The FTX affiliated fund, MNNC Group, has raised over 100 million dollars since its renaming

The FTX affiliated fund, MNNC Group, has raised over 100 million dollars since its renaming

Bitget2024/12/20 14:43

According to DL News, MNNC Group, which was renamed from the FTX-affiliated crypto hedge fund LedgerPrime in February this year, has revealed that it has raised over $100 million.

According to documents submitted to the Securities and Exchange Commission on Thursday, the company based in the Cayman Islands raised $53 million through two funds. However, Ayesha Kiani, Chief Operating Officer of MNNC Group said: "The amount is far more than this. This is just one of our onshore entities."

On Friday, Kiani stated that assets managed by MNNC Group exceeded "nine figures", but declined to elaborate further. This figure represents growth from the "eight-figure" number disclosed by the fund to Bloomberg in February. Kiani stated that after cryptocurrency exchange FTX collapsed in November 2022, LedgerPrime liquidated and changed its name to MNNC Group. The company currently has about 10 investors but refused to disclose their names.

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