Fatfish Internet Group Ltd (ASX:FFG) will be spinning out a UK based blockchain and cryptocurrency investment fund manager – Epsilon Capital Management Ltd.
Fatfish has been incubating the business for six months and will receive a 10% shareholding.
The company will invest a further US$500,000 into Epsilon in return for an additional 10% shareholding,
Reducing the risk associated with blockchain investments
Epsilon is seeking to be amongst the first ‘fund-of-funds’ that will be investing exclusively in the blockchain and cryptocurrency ecosystem, through leading hedge funds and venture capitalists.
The business will be operating across multiple jurisdictions with the aim to provide a global product offering that reduces the risk typically associated with blockchain and cryptocurrency investments.
Top tier team from the finance and capital markets industries
Epsilon will be led by Fatfish’s director of crypto financial markets, Phillip Lord, together with Max Von Etzdorf, Jeremy Sparrow and Joachim Godet.
Fatfish director and chief executive officer Kin Wai Lau said: “Fatfish internet has been incubating this project for over 6 months, whilst we hand selected a top tier team from the finance, investment and capital markets industries.
“The co-founding team combines decades of experience across international blue-chip roles and through this expertise, we aim to bring retail investors a more secure way to gain returns from this ever-expanding industry”