Singapore’s Portal Asset Management recently launched its first fund, targeted at high networth individuals (HNWIs). The fund is called Portal Digital Fund. It targets prominent investors in Asia Pacific and operates on the basis of a fund-of-funds structure. The firm aims to have $100 million in funds under management in the long run, the Business Times reported.
Portal’s initial fundraising will close on March 31, 2020. It will largely focus on high net worth individuals, family businesses and boutique institutional investors.
“With global assets now capable of being digitised, fractionated and traded using blockchain technologies, digital assets are set to become the fourth superclass, joining the traditional classes of store of wealth, capital and goods,” the firm told the media.
ConsenSys in its asset management report noted that blockchain has transformative capabilities to improve efficiency in asset management. It appears that adoption of cryptocurrencies and rapid advancements in blockchain solutions are having a large impact on the global financial economy.
Portal will create a portfolio comprising up to eight specialist global fund managers to ensure returns unassociated with traditional securities market. The portfolio will have two investment streams. The first is quantitative-driven trading, while another one is long-only venture capital and private equity funds.
The firm has reviewed more than 100 digital fund managers using a macro-thematic top-down investment process coupled with a basic bottom-up investment analysis approach. In the last two years, it has aggregated over 700 digital fund managers.
Portal’s advisory committee consists of experienced researchers and blockchain specialists, including Nitin Gaur, director of IBM’s Blockchain Labs, as well as Matt Spoke, founder and managing director of AION Network.