Key Takeaways
- • Annamite Capital, a London-headquartered multi-manager, multi-strategy digital asset firm, announces its formal launch on January 2, 2025, with Cayman-regulated funds launching the same day under CIMA oversight.
- • The firm reports net returns of +27.8% in its USD share class (Mar 18-Oct 31), +15.2% in its BTC share class (Feb 14-Oct 31, or +66.5% USD equivalent), and +18.1% in its ETH share class (Feb 9-Oct 31, or +29.5% USD equivalent), all on proprietary capital of more than $7 million.
- • Annamite has invested more than $4 million over 2.5 years in proprietary technical infrastructure and currently allocates to fourteen investment teams, with roughly fifteen expected at launch.
- • The firm will offer $25 million of capacity at reduced fees to select day-one investors in its Founders' Fee Share Class.
- • Leadership includes former Citadel and UBS executive Tom Geary and Lucas Gaylord, CEO of Eulith, with Joseph Biscomb (formerly Head of Middle Office at Brevan Howard) heading operations.
Summary
Annamite Capital, a multi-manager, multi-strategy investment firm focused on digital assets, has announced its formal launch on January 2, 2025, according to a PR Newswire release. The firm says its focus is on building legal and technical infrastructure to mitigate counterparty and left-tail risk in digital assets, and it has invested more than $4 million over 2.5 years in its proprietary technical infrastructure. Annamite aims to source the highest-alpha strategies and incrementally build capacity.
The firm began operations in February with more than $7 million of proprietary capital allocated to external investment teams operating on its internal infrastructure. Per the release, net returns were +27.8% for the USD share class (March 18 to October 31, roughly 7.5 months), +15.2% for the BTC share class (February 14 to October 31, roughly 8.5 months; +66.5% in USD equivalent), and +18.1% for the ETH share class (February 9 to October 31, just under 9 months; +29.5% in USD equivalent). The company states these results were achieved with low average market net exposure.
Annamite plans to invest in approximately fifteen systematic strategies via separate accounts at launch and currently invests in fourteen investment teams spanning low-mid and high-frequency trading, market-making, statistical arbitrage and arbitrage. The firm invests across centralized and decentralized venues, using proprietary security and execution software to operate in DeFi. Per the release, eleven teams on centralized exchanges are expected to offer higher returns with moderate volatility and drawdowns, while three teams on decentralized exchanges are described as providing fixed-income-like returns with lower volatility.
Annamite offers three share classes: USD/USDT/USDC-denominated for family offices, institutions and stablecoin investors; Bitcoin-denominated for miners and large BTC holders; and ETH-denominated for institutional and wealthy ETH investors. Fundraising will target family offices, UHNW, HNW and institutional investors globally. The firm is headquartered in London under Annamite Limited (UK), has applied to become an Appointed Representative regulated by the UK Financial Conduct Authority, and Annamite Capital Limited is an Approved Manager with the British Virgin Islands Financial Services Commission. Its Cayman funds will launch under CIMA. Leadership is led by Citadel and UBS alumnus Tom Geary and Lucas Gaylord, CEO of Eulith, with Joseph Biscomb as Head of Operations and George Rowe as Head of Business Development.
The firm began operations in February with more than $7 million of proprietary capital allocated to external investment teams operating on its internal infrastructure. Per the release, net returns were +27.8% for the USD share class (March 18 to October 31, roughly 7.5 months), +15.2% for the BTC share class (February 14 to October 31, roughly 8.5 months; +66.5% in USD equivalent), and +18.1% for the ETH share class (February 9 to October 31, just under 9 months; +29.5% in USD equivalent). The company states these results were achieved with low average market net exposure.
Annamite plans to invest in approximately fifteen systematic strategies via separate accounts at launch and currently invests in fourteen investment teams spanning low-mid and high-frequency trading, market-making, statistical arbitrage and arbitrage. The firm invests across centralized and decentralized venues, using proprietary security and execution software to operate in DeFi. Per the release, eleven teams on centralized exchanges are expected to offer higher returns with moderate volatility and drawdowns, while three teams on decentralized exchanges are described as providing fixed-income-like returns with lower volatility.
Annamite offers three share classes: USD/USDT/USDC-denominated for family offices, institutions and stablecoin investors; Bitcoin-denominated for miners and large BTC holders; and ETH-denominated for institutional and wealthy ETH investors. Fundraising will target family offices, UHNW, HNW and institutional investors globally. The firm is headquartered in London under Annamite Limited (UK), has applied to become an Appointed Representative regulated by the UK Financial Conduct Authority, and Annamite Capital Limited is an Approved Manager with the British Virgin Islands Financial Services Commission. Its Cayman funds will launch under CIMA. Leadership is led by Citadel and UBS alumnus Tom Geary and Lucas Gaylord, CEO of Eulith, with Joseph Biscomb as Head of Operations and George Rowe as Head of Business Development.
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