Travis Kling To Unveil Own Funds, Months After Quitting Point72
His fund will be rolled out early next month.
Kling Finally Set To Set Up Own Fund
Travis Kling is set to unveil his own hedge fund next month. King is the former MD of the Point72 fund. He quit the position in late 2017 at the moment cryptos were enjoying a perfect market run. From that moment, the market has declined significantly. Most cryptos are underperforming but we have signs that they might soon recover even as many scratches their heads on how to join the mainstream market.
Kling’s expected hedge fund has been cited as the reason why he quit his position at Point72 and ventured into his own entity that will hit the market on the first day of October.
Within one month, Kling wants to raise approximately $15 million. Kling will start with a number of collaborators. In the end, Kling seeks to attain a $33-million venture fund and a $100 million token fund by next year. The fund will have its headquarters in Delaware but it will be backed by a Cayman Islands approval to permit international clients to take part.
In 2018 alone, almost 100 funds with links to cryptos have been launched without distraction from the bearish trend.
When most cryptos attained their all-time highs, major sell-offs happened. The highs led to a belief that the cryptos were experiencing a bubble. Furthermore, one more thing that stands out is that markets are steadily growing with major bodies researching on how to adopt cryptos. Even governments that were opposed to the new currency are now coming on board.
According to Kling, if the bull market was to accommodate the cryptos once again, it means that coming up with funds would be much easier. Kling is confident that people will show interest in cryptos. Ahead of his fund, Kling is certain that it will be a trillion dollar product that will be used daily.
At the start, Kling will have a team made of 13 individuals. He has exhibited a bearish view on cryptos on a temporary basis. Kling will later make a decision whether to make it long or short term.