Hypersphere Ventures has opened its $130 million liquid fund to outside investors and is raising a new $75 million VC fund.
Hypersphere Ventures, a crypto investment firm, has opened its recently launched liquid fund that has already gathered $130 million in assets under management to outside investors.
Atlas was first launched in January in stealth mode with an initial investment of $100 million from Hypersphere's balance sheet, Platts said. The fund has since grown to $130 million in AUM and is now open to outside investors. Investors can prefer liquid funds because they may generate returns faster than traditional venture capital funds. Liquid funds are easier to trade, whereas venture funds hold more illiquid assets and are subject to lock-up periods and vesting schedules. According to a recent Galaxy Digital report, the estimated total AUM of liquid crypto hedge funds exceeded $21 billion at the end of Q1 2024, marking the first time since October 2022.
Atlas is Hypersphere's fourth fund since Platts launched the firm in 2020. Hypersphere says its first two funds generated over $600 million in profits, after fees, from an initial investment of less than $50 million. "Our first fund was venture strategy and the second was a hedge fund liquid strategy," Platts said. "Our third fund is a $60 million venture fund. We are still actively investing from the third fund that is up 150% net so far.
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