- New regulated hub for cryptocurrency and other digital
- investment strategies
- Includes distribution into the HNWI market in the UAE
- Launch of first strategies anticipated in Q4
DUBAI August 2023: Cigrek Capital has launched its fully-regulated, Dubai solution for managers of digital assets strategies seeking distribution to institutional and HNW investors in the Gulf region.
The launch complements Cigrek’s existing regulated EU platform which is in the process of onboarding its first managers interested in European distribution avenues.
The Dubai platform has been designed to meet the appetite for digital asset strategies among the community of HNW investors and family offices in the United Arab Emirates. It is immediately available for use by fund managers with the first launches anticipated for Q4.
Fund managers will become advisers to the cells, which sit under a fully regulated umbrella in Dubai. The launch addresses the need investors in the Gulf region have for a local, regulated solution that ticks many of the due diligence boxes they require.
Cigrek will also assist with distribution including initial seed commitments for the individual strategies under the umbrella. New managers will need to demonstrate their investment credentials including a certified track record for the strategy they are pursuing.
Laura Barscevska, Managing Director with Cigrek Capital, said: “There is already enormous interest for digital assets investment within Dubai, which is fast becoming one of the leading global hubs in terms of local knowledge and interest in the market. The new platform is designed to match leading investment talent in the digital universe with wealthy investors in the Gulf who want more exposure to this asset class.”
Cigrek Capital is already in discussions with several established digital asset fund managers with a view to launching its first strategies under the new Dubai structure. Many of these already have existing non-fully regulated funds but have found that this may not always be suitable for an asset raise.
Working with Cigrek, managers have the option to pursue distribution in the UAE or Europe, or both. “Our Dubai investment platform has been established to meet the real appetite for a locally-regulated platform which will allow investors to allocate to some of the best cryptocurrency management talent out there,” Barscevska added. “We are already in discussions with some pioneering fund managers in this space which we will be bringing to the Gulf market in due course.”
Cigrek expects the first strategies under the new umbrella will launch to investors in Q4 of this year.