Bloomberg: Crypto hedge fund Protocol Ventures is to close down and return cash
11/03 07:23
According to Bloomberg, Protocol Ventures LP, a US-based investor in crypto hedge funds, is to close down and return cash following the slide in the market for digital assets, according to people familiar with the matter. Notices were sent to investors at the end of October about the move, the people said, asking not to be named because the information isn’t public. The closure will likely be completed by year-end or the first quarter of 2023, one of the people said. Investors in Protocol’s fund of hedge funds may have lost as much as 90% over the past year, the people said. Protocol Ventures is a fund of crypto hedge funds that invested in the likes of BlockTower Capital, Multicoin Capital, Pantera and Electric Capital.
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