Recently-established digital assets hedge fund Liquid Triton has established its global headquarters in Abu Dhabi, with the Abu Dhabi Global Market (ADGM) granting the US-based fund in-principle approval for a Financial Services Permission (FSP), ADGM said in a press release. Currently managing assets worth USD 43 mn, Liquid Triton aims to raise an additional USD 50 mn in capital this year, founder Chris Keshian told Zawya.

Abu Dhabi marks the company’s inaugural expansion destination: “It will be one of the three jurisdictions along with Hong Kong and Singapore that capture the lion’s share of entrepreneurs and people and funds who want this to see this become a real asset class,” Keshian told Zawya, pointing to the UAE’s status as an emerging global crypto hub with progressive regulations in place.

Liquid Triton employs the “liquid venture capital” model for digital asset investments, aiming to blend venture-style returns with a shorter investment time horizon and continuous liquidity, similar to traditional stock markets, according to the company’s website. New York-based VC FJ Lab provided Liquid Triton USD 30 mn in seed funding back in 2022.

OTHER ADGM NEWS-

#1- Core banking provider Tuum sets up Abu Dhabi regional office: Estonian core banking provider Tuum has established its regional headquarters at Abu Dhabi Global Market to expand and manage its operations in the Middle East, the firm said in a statement. The move comes after the company raised EUR 25 mn in a funding round in February, aimed at growing its market presence in the region.

Tuum’s core banking services allow fintech firms and banks to digitize their systems through its cloud-based core banking platform.

#2- Marketing and communications agency Prosek Partners has opened a regional office at the Abu Dhabi Global Market, to “expand its global presence,” according to a company statement. Operations will be led by Diana Estupinan.

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