FTX's former digital asset hedge fund, LedgerPrime, has rebranded as "MNNC Group" and completed an eight-figure financing.

According to BlockBeats news on February 29th, the digital asset hedge fund LedgerPrime, which was once affiliated with bankrupt crypto exchange FTX, has restarted under a new name "MNNC Group". This multi-strategy hedge fund registered in the Cayman Islands has raised an undisclosed amount of funds from supporters, including former LedgerPrime investors. Although MNNC Group has not attracted all of LedgerPrime's former investors, the fund's General Partner and Special Advisor Shiliang Tang revealed that the fund has raised funds in the "eight-figure range". MNNC Group's flagship quantitative market-neutral strategy fund launched in January and ended the month with a return of about 4%, said Laura Vidiella del Blanco, Head of Business Development and Strategy. The fund's new directional fund is expected to launch in March. MNNC Group currently has 11 employees, most of whom are from LedgerPrime. Boris Iyutin, formerly of high-frequency trading firm Tower Research Capital, will take over Shiliang Tang's position as the new Chief Investment Officer of MNNC Group. MNNC Group is not the only new fund derived from LedgerPrime. Zaheer Ebitkar, former portfolio manager of LedgerPrime, now operates the cryptocurrency fund Split Capital.