Launch of hedge fund focused on Bitcoin
Coin Capital Management, LLC announced the launch of Bitcoin-focused hedge fund Coin Capital Partners, LP, which will buy and hold the leading cryptocurrency in an institutional grade environment.
“Coin Capital Partners will allow traditional hedge fund investors to take a long-term bullish stance on the value of the Bitcoin,” said Samuel Cahn, managing partner. “Our mission is to bring hedge fund industry best practices to the emerging virtual currency asset class.” Coin Capital has engaged recognized third party service providers to meet the high standards demanded by institutional investors.
Cahn founded Coin Capital along with his partners Sigmund Sommer and Drew Sommer. Cahn brings financial and legal expertise to the management team. He is a licensed attorney who has recently worked at the White Bay Group in a dual counsel and investment management role, where he managed Combinations Capital Partners, a carveout dedicated to arbitrage and event-driven investing. Sigmund Sommer has years of experience in mining, trading and investing in Bitcoin; he has also worked at Aladdin Gaming as an assistant to the Chief Technology Officer and at Hello Networks as a Senior Server Engineer, before creating several entrepreneurial technology ventures. Drew Sommer is intimately involved in the Bitcoin community and has achieved success as a miner, trader and investor in the currency.
Coin Capital has contracted with SS&C Technologies, Inc. for fund administration services, and is audited by KPMG. The fund is represented by Thompson Hine LLP.