London-headquartered Annamite Capital, a multi-manager, multi-strategy investment firm focused on digital assets, announced it will formally launch on Jan 2nd, 2025. The focus is on building legal and technical infrastructure to mitigate counterparty and left-tail risk in digital assets.
It has so far made a >$4M investment over 2.5 years in building its proprietary technical infrastructure. Annamite aims to source the highest alpha strategies and incrementally build capacity. Annamite Capital’s fundraising campaign will target professional investors such as family offices, UHNW, HNW and institutions globally.
Highlights:
- Began operations in February with more than $7 million of proprietary capital allocated to external investment teams operating on its internal infrastructure. The returns so far are +27.8% net returns for the USD share class (Mar 18-Oct 31) for 7.5 months of trading, +15.2% net returns for the BTC share class (Feb 14-Oct 31) (returns denominated in BTC or +66.5% USD equivalent) for 8.5 months of trading and +18.1% net returns for the ETH share class (Feb 9-Oct 31) (returns denominated in ETH or +29.5% USD equivalent) for just under 9 months of trading. These results were achieved with low average market net exposure in line with Annamite’s focus on delivering alpha in all-weathered digital asset market conditions.
- At launch, Annamite Capital is expected to invest in approximately fifteen strategies via separate accounts, focusing on systematic investment strategies. To date, Annamite invests in fourteen investment teams, with expertise in low-mid frequency trading, high-frequency trading, market-making, statistical arbitrage and arbitrage. Annamite invests across both centralized trading venues and decentralized trading venues, with proprietary security and execution software to operate in DeFi.
- Annamite Capital is led by Citadel and UBS alum Tom Geary, and Lucas Gaylord, CEO of Eulith. Both bring extensive experience in cryptocurrency, engineering, and traditional finance. The firm recently brought on Joseph Biscomb to head up operations, who was most recently the head of Middle Office at Brevan Howard and George Rowe as the head of Business Development.
Annamite Capital’s investment strategy is centered on exploiting the complementary and uncorrelated return profiles of investment teams operating on both centralized and decentralized exchanges. The approach includes:
- Centralized exchanges: eleven investment teams with backgrounds in traditional systematic strategies at top pedigree hedge funds, offering high returns with moderate volatility and moderate drawdowns.
- Decentralized exchanges: three investment teams specializing in engineering, software development, and quantitative trading, providing fixed-income-like returns with reduced volatility and low drawdowns.