Monday, November 9, 2020

Parataxis Capital Taps Investors from Hollywood to Wall Street for Equity Financing Round

HOBOKEN, N.J.--()--Parataxis Capital Management LLC ("Parataxis Capital" or "the Firm"), a multi-strategy investment manager focused on the digital asset sector, announced today the closing of an equity financing round. Proceeds from the equity raise will be used to (i) further scale the technology infrastructure & business operations supporting the flagship Parataxis Absolute Return Fund, and (ii) accelerate the launch of two additional funds, the Parataxis Special Opportunities Fund and the Parataxis Tactical Bitcoin Fund.

Equity investors include Bill Block, CEO of Miramax; Jamie Selway, former Head of Electronic Brokerage at ITG; Rishi Nangalia, former head of REDI Technologies at Goldman Sachs; and the family office of Richard Gorelick, Co-Founder & CEO of RGM Advisors; amongst others.

“Blockchain technology is expected to be a disruptive force, with the potential for massive value creation over the coming years,” said Edward Chin, CEO of Parataxis Capital. “As traditional investors continue to explore the investment opportunity provided by digital assets, their focus will undoubtedly shift towards identifying the right vehicle to express a view on the space. Notwithstanding the proliferation of retail products being marketed to institutional investors today, I am confident that what we are building is a funds platform, process and team that will appeal to sophisticated investors looking to gain exposure to this growing alternative asset class."

“Given the nascency of the digital asset market and periods of outsized volatility, investment firms must go beyond a “crypto maximalist” worldview to thrive,” said Thejas Nalval, CIO of the Firm. “We are not ideologues. Underlying our bullish thesis on the sector is the experience of having operated and invested in the space over multiple bull and bear market cycles. Our multi-strategy investment approach and disciplined risk management process are intended to navigate this dynamic market in order to generate attractive risk-adjusted returns regardless of where we may be in the market cycle."

The Parataxis Capital team has deep experience and expertise across both the traditional finance and digital asset sectors.

Edward Chin, Co-Founder and CEO, was previously an investment banker at digital asset merchant banks Galaxy Digital and the Element Group. Prior to joining the digital asset space, Mr. Chin spent 10 years as an investment banker executing M&A and financing transactions across the Technology, Media & Telecom sectors, most recently at Credit Suisse. Previously, he served as a Captain in the US Army and was a Fulbright Research Fellow in South Korea. Mr. Chin is a graduate of The Wharton School (MBA), Yonsei University (MA) and UC Berkeley (BA).

Thejas Nalval, Co-Founder and CIO, was previously a portfolio manager with digital asset hedge fund LedgerPrime and Head of Asset Management at the Element Group. Prior to joining the digital asset space, Mr. Nalval spent 8 years at Goldman Sachs, most recently as a trader within the firm’s Macro Trading group. Mr. Nalval is a graduate of the Stern School of Business at NYU (MBA) and Rutgers University (BA).

Julian Gropp, Portfolio Manager, was previously an investor at digital asset investment firm Hashed. Prior to joining the digital asset space, Mr. Gropp spent 9 years across the financial technology (LendingHome), private equity (KKR & Co.) and investment banking (Lazard) sectors. Mr. Gropp is a graduate of Stanford University (BA).

About Parataxis Capital Management LLC

Parataxis Capital Management LLC is a multi-strategy investment firm focused on the digital asset sector. The Firm serves as the Investment Manager to the Parataxis Absolute Return Fund LP (a Delaware limited partnership), Parataxis Special Opportunities Fund Ltd. (a British Virgin Islands business company), and Parataxis Tactical Bitcoin Fund LP (a Delaware limited partnership).

Parataxis Capital Management LLC is a Service-Disabled Veteran-Owned Small Business, with headquarters in Hudson County, New Jersey.

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