Lucy Labs, a NYC-based multi-strategy cryptocurrency asset administration firm centered on growing and making use of quantitative and basic buying and selling methods, raised a complete of $3m.
The spherical was led by DeepWork Capital, with participation from Cogent Bancorp Inc., which is the monetary holding firm that operates Cogent Financial institution, a FDIC insured Florida-based financial institution with $1 billion in belongings. Different members embrace Pink Constructing Capital, Immeasurable, and different strategic buyers.
The corporate intends to make use of the funds to develop its infrastructure, rent extra funding professionals and incubate extra buying and selling methods.
Based in 2017 and led by George Chuang, CEO, Lucy Labs manages a variety of quantitative methods exploiting momentum and carry components, concentrating on average to aggressive returns whereas sustaining rigorous danger administration and strategy-specific buildings to cut back the volatility inherent within the cryptocurrency markets. The agency additionally acts as a market maker and liquidity supplier in each centralized and decentralized exchanges.
Lucy Labs launched its three methods to outdoors buyers in November 2021 and is accepting commitments on a rolling month-to-month foundation.