Singapore boutique launches cryptocurrency fund for HNWIs

Portal Asset Management announced the launch of its first fund focused on cryptocurrency and blockchain assets.

Dubbed the Portal Digital Fund operates via a fund-of-funds structure, targeting sophisticated investors in the Asia-Pacific. Portal aims to have over $100m in funds under management in the long term.

Initial fundraising closes on March 31, 2020, and will focus on high net worth individuals, family offices and boutique institutional investors.

Bad news tends to be good news for crypto, because it’s seen as an alternative store of value”

“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 boutique investment firm added.

Portal will create a diversified portfolio of between four and eight specialist global fund managers, to deliver returns uncorrelated with…