First crypto investment fund in Portugal is registered by the CMVM to deal in crypto asset investments
The first alternative investment fund in Portugal to trade in crypto assets has been given the green light by the Portuguese securities commission CMVM.
The 3 Comma Capital (3CC) Global Crypto Fund currently invests in Bitcoin, Ether and Solana and has €1 million in assets under management with a goal of growing its investor pool without specifying targets.
The 3CC Global Crypto Fund is an open fund where investors can subscribe and redeem fund share units at any time.
Reports Negócios, the fund has exposure to Bitcoin, Ether and Solana and cryptocurrency derivatives providing that these serve only for benchmark asset risk hedging, and are not used to speculate, according to Nuno Serafim, managing partner of Comma Capital, the asset management entity that holds the fund.
Bitcoin, the most valuable crypto asset in the market, takes the lion’s share of the portfolio since it is the most stable.
Ether was chosen as to be the representative unit of the Ethereum network having various projects in the Web 3 space.
Solana, which has its own network, was chosen as a complementary crypto asset. The fund is only open to professional investors who are members of and subscribers to the asset management fund.
Looking to the future, the managing partner of Comma Capital did not want to be drawn on a target in terms of investor numbers.
The CMVM passed the project at the end of last year after it had been submitted in October, although “pave-the-way conversations” had been held long before that.
The fund itself only became active in terms of commercialisation in April 2024 because it is “more liquid” than the other dedicated to venture capital, also held by the asset manager. “We had to hire people and implement systems”.
On his Linked-in profile, Nuno Serafim says: “We are passionate about high conviction investing, whether it is a business model, a technology, a founder or a demographic trend.
“We like innovation and to embrace disruption. Since we started 3 Comma we had the idea that our second fund, and first opened to outside investors, needed to be something different from the crowd.
“We all came from traditional investing backgrounds, but we love what blockchains and crypto assets can bring to the table as an asset class. We trust that rather sooner than later, most of the investors will grasp the advantages of getting exposure to the only asset class available with an asymmetrical return profile and enjoy the compound growth that lies in the network effect of blockchain and crypto assets usage!
“Therefore I’m pleased to announce the launch of Global Crypto, our daily liquidity fund that will give access to this new asset class in a seamless way, as any other equity or fixed income fund”.
The 3CC Global Crypto Fund investing universe is framed by CF Ultracap 5, representing the 5 biggest crypto projects available, to ensure that investors will have exposure to the most representative tokens of this new risk premium, including the passive yield generated by the validation of PoS networks.
It also partners with Gemini as a digital assets custodian, and CF Benchmarks that will provide not only the benchmark but also the reference prices for its holdings.
