FTX-affiliated fund MNNC Group has raised over $100 million since its name change

According to ChainCatcher, DL News reported that MNNC Group, which was renamed from FTX-affiliated crypto hedge fund LedgerPrime in February this year, revealed that the company has raised more than $100 million.

The Cayman Islands-based company raised $53 million across two funds, according to documents filed Thursday with the Securities and Exchange Commission. But Ayesha Kiani, chief operating officer of MNNC Group, said: “It’s much more than that. This is just one of our onshore entities.”

Kiani said Friday that MNNC Group manages more than "nine figures" in assets, but declined to elaborate further. The figure is up from the "eight figures" the fund disclosed to Bloomberg in February. Kiani said that after the collapse of crypto exchange FTX in November 2022, LedgerPrime was liquidated and renamed MNNC Group. The company currently has about 10 investors, but declined to disclose their names.