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Since then, prices have quadrupled, allowing Chu to quit his job, launching a venture company investing in blockchain technology last year - and now launch a crypto currency fund that wants to raise $ 100 million. Some of this money is already in the bank and Chu began to invest.
His Kenetic Capital is one of the many firms that are building on the new frontier after rising prices and spreading the initial offer of coins sold by corporations to raise money-the demand for digital assets has increased. Chu says that he is not interested in speculation, but rather in tokens sold by companies with strong fundamental and long-term potentials.
Despite the fact that this year all the largest crypto-currencies have seen surges, it is also an unstable market, subject to hacking and regulatory changes. For example, one of the most important problems is whether the ICO tokens, which, according to CoinDesk, raised $ 1.8 billion for startups, will be governed by the securities rules.
A rally in bitcoin stopped after last week its price reached a record level. And large fluctuations may be on the horizon, since the crypto-currency, which has already split into two in August, against the backdrop of fighting basic technology, may soon see another bifurcation.
Chu said that his clients mainly consist of family offices and wealthy investors. He added that Kenetic Capital offers protection against hacking, hedge fund strategies and early access to the ICO. The fund charges a traditional 2-and-20 fee structure.
"We have a different level of access to tokens than an ordinary person on the street," Chu said. "We have relationships and we add value to these teams and these businesses and companies that we’re committed to longer term."
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