Triay’s Gibraltar Financial Services team have successfully assisted Red Ribbon Strategic Fund PCC Limited (an experienced investor fund) with the launch of 2 new sub funds – namely the North Block Capital Fund I (“North Block”) and Seedlife Caban Impact Fund (“Seedlife”). Both North Block and Seedlife have also become the first sub funds to be listed on the Gibraltar Stock Exchange (“GSX”) in 2018.
The listing makes North Block, the first crypto fund (or sub compartment of fund) to be listed on GSX and quite possibly the first crypto fund to be listed in Europe. North Block provides its investors with the opportunity of diversifying their portfolios by virtue of its investment objective and strategy which invests in “Initial Coin Offerings, other Cryptocurrencies and Blockchain technologies.
Meanwhile, Seedlife is a traditional private equity fund that will be “investing in seed, angel, venture and growth capital in companies in Sub-Saharan Africa”.
Suchit Punnose, Managing Director of Red Ribbon Fund Management Limited, said “Both these funds are ground breaking in the asset classes it invests in and the structuring involved a myriad of complexities. The team at Triay walked us through this with considerable ease and provided swift, concise and practical solutions to achieve the launch”