- With this acquisition, DNA Fund, known for its big-ticket investments in web3, aims to expand into new verticals, including a Bitcoin & Ether Yield Fund.
- Coral Capital previously managed the funds of DNA’s principals.
Puerto Rico, Oct. 18, 2024 (GLOBE NEWSWIRE) — — DNA Fund, the Financial Institution of the future in high-ticket emerging tech and web3 investments, has announced its acquisition of Coral Capital Holdings LLC, an established investment management firm that has previously managed millions in the DNA founders’ personal funds.
As early-stage investors in established Web3 brands and founders of some of the sector’s most notable projects, DNA and its founders have invested in or founded projects such as Tether, EOS, Mastercoin, Bancor, and Hedera Hashgraph. The acquisition will see the DNA Fund manage an additional AUM of over $50 million, which includes Coral’s high-yield hedge funds and venture funds focused on DeFi, AI, blockchain, and other emerging technology sectors. Some of Coral’s top-performing investments include Near Protocol and Atmos Labs.
Thomas L. McLaughlin, Coral’s Chief Investment Officer, will continue in his role, managing the funds with a unique focus and strategy aimed at maximizing investor returns.
Regarding the acquisition, Christopher Miglino, CEO of DNA Fund, said, “By bringing Coral Capital under our umbrella, we are not only expanding our investment capabilities but also enhancing our ability to offer unique, high-growth opportunities to our clients. Our combined expertise allows us to navigate the complexities of the digital asset landscape and continue delivering value to our investors.”
Thomas L. McLaughlin, CIO of Coral Capital Holdings, added, “Joining forces with DNA Fund is an exciting new chapter for Coral. Our shared vision for leveraging technology to drive financial growth is perfectly aligned. Together, we are set to redefine what’s possible in digital asset investments and deliver superior results for our investors.”
Since its inception in 2021, Coral has delivered consistent returns with innovative strategies, delivering high multiples on the benchmark of the overall market cap of digital assets. Coral’s Flagship fund, initially started as a market-neutral vehicle, was rebranded in 2023 as a discretionary liquid token, surviving a number of high-volatility events, including FTX and Terra.
With a 61.6% return (net of fees) and a maximum annual drawdown of only 11.6% in FY 2022, these funds have outperformed the broader digital asset market. Over a similar period, Bitcoin returned 36.7%.
Through this acquisition, DNA Fund also aims to capitalize on the growing interest from institutional investors and expand into several new verticals over the coming year, including a Bitcoin & Ether Yield Fund, as well as more speculative funds focused on AI, memecoins and microcaps.
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About DNA Holdings Venture Inc.(DNA Fund):
Since 2013, DNA Holdings Venture Inc. has been a leader in the digital asset investment space and at the forefront of the next global financial ecosystem. Co-founded by Brock Pierce, a pioneering innovator and investor in the blockchain industry, and Scott Walker, a key figure in early crypto adoption and one of the most successful investors in the history of the space, DNA Fund leverages its deep industry knowledge to drive innovation and provide value to investors worldwide.
About Coral Capital Holdings LLC
Founded in 2021, Coral Capital Holdings LLC has been a trusted name in crypto fund management, with a focus on delivering innovative strategies and strong returns for its investors. Under DNA’s leadership, Coral continues to build on its legacy of excellence with a renewed focus on emerging opportunities in digital assets and technology.
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