Crescent Completes Series A Financing With FBG Capital

8/7/18

Crescent Crypto Asset Management, a cryptocurrency index fund manager led by Goldman Sachs alumni, announced the completion of its Series A financing and launch of its offshore Cayman fund. FBG Capital led the fundraising round with its investment into Crescent, bringing invaluable connections and industry knowledge to Crescent.

Utilizing its strong global presence, FBG is focused on helping Crescent grow assets under management for its suite of passive funds both in the US and abroad. In addition, FBG will leverage its network to help Crescent develop and list multi-coin products on traditional financial exchanges.

Uses of the capital also include expanding the team by hiring senior leadership across sales and business development functions with a focus on talent from bulge bracket investment banking firms and leading ETF providers who share the firm's vision and passion for bringing cryptocurrencies to the mainstream. Additionally, the firm intends to build out a digital asset research and advisory platform.

"We are excited to partner with FBG Capital in order to grow the business and bring the Crescent 20 to international investors who have shown significant demand," said Michael Kazley, Co-Founder of Crescent Crypto.

The Offshore Fund has a minimum investment of $250,000 and is currently accepting subscriptions, with a management fee of 2% and quarterly redemptions.

About FBG:

Founded in 2015, FBG has established itself as an industry leader in a variety of blockchain-related business operations ranging from token investments, principal trading, over-the-counter ("OTC") trading, as well as strategic investments.

About Crescent:

Crescent Crypto launched in the fall of 2017. The firm's flagship strategy is the Crescent 20 Index Fund - a privately managed cryptocurrency index fund focused on capturing the returns of the investment grade crypto universe with a passive, rules-based approach. The strategy adjusts for volatility, liquidity, and safe storage capabilities and is designed to be a complexity-free access vehicle for investors. The Crescent 20 Index covers approximately 90% of the total market capitalization of the digital asset market. The fund is held in 100% cold storage and is rebalanced monthly. The onshore fund is limited to accredited investors with a minimum investment of $100,000.

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