MaiCapital’s Establishment of Trailblazing Tokenized Bitcoin-themed Quantitative Fund

Sidley Austin LLP advised MaiCapital Limited and MaiBlocks Technology on the operation.

SFC-licensed blockchain and crypto-related asset manager, MaiCapital Limited and MaiBlocks Technology, a Blockchain technology service provider and winner of the MIPIM Startup Competition at MIPIM PropTech Asia 2020, announced the launch of a tokenized Bitcoin-themed quantitative fund.

The fund will invest in a range of asset classes, including Bitcoin and Bitcoin-related derivative products. Dealings in the fund may be transacted in cryptocurrency and fiat currency.

This is the first actively managed hedge fund in Asia to be tokenized and the first tokenized fund in Asia to feature cryptocurrencies as an asset class. Interests in the fund are recorded on the Blockchain and the investors are issued digital certificates (tokens) that represent their equity interests in the fund. This is built on an Ethereum-based protocol which utilizes blockchain technology.

MaiCapital Limited is a leading alternative investment manager in Hong Kong and is a pioneer in applying institutional investment practices to the innovative cryptocurrency space. Co-founded in 2018 by Stanford alumni and long-time finance and technology professionals, Benedict Ho and Michael Wong respectively, the firm aims to offer crypto-inclined investors with legitimate and compliant products that provides positive returns with maximum protection. MaiCapital’s investment principles focus on protecting investors’ interests and safeguarding against various counterparty risks associated with cryptocurrency-related products.

MaiBlocks Technology (HK) Limited is a software solutions provider headquartered in Hong Kong. The company focuses in using leading-edge blockchain and digitization technology to create innovative solutions for financial (fintech) related problems.

The Sidley team advising MaiCapital Limited was led by partner Joy Lam (Picture, Hong Kong) and included associates Jason C.H. Chan (Hong Kong) and Deanna Liu (Hong Kong).

Involved fees earner: Jason Chan – Sidley Austin LLP; Joy Lam – Sidley Austin LLP; Deanna Liu – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: MaiBlocks Technology ; MaiCapital Limited;

Author: Michael Patrini