Crypto fund Neural Capital closes, losing half of investor capital
The fund has lost half of its capital since launch in 2017 and in the present time returns leftovers funds investors. By words sources, cryptocurrency assets of Neural Capital were liquidated in December, and part of the fiat currency everything is still on escrow accounts, which violates earlier the announced terms for several months.
By 2019 year under Neural Capital managed assets on more than $ 13 million. Him investors over 40 employees, including Greylock partner Joshua Elman and Expa partner Human Radfar, each of which invested at least $ 250 000.
Fund managers Ariy Nazir and Christopher Keshian had no previous experience in the hedge fund industry. After launch of Neural Capital they are became consultants company Protocol Ventures, which has invested in many cryptocurrency funds, including Neural Capital. Keshian also founded Apex Capital, a fund of funds similar to Protocol Ventures. Apex Capital never launched because it couldn’t to reach minimum goal of $ 100 million when selling own tokens.
So way, Neural Capital joins a string of crypto funds that opened at the peak of the crypto boom in 2017 and recently discontinued his existence, most striking examples which are Adaptive Capital, Prime Factor Capital and Tetras Capital.