The firm plans to bring fundamental analysis to the crypto market.
Backers include Multicoin Capital, ParaFi Capital and FTX’s LedgerPrime
Announced Monday, Modular Capital has raised $20 million from a wide range of investors, including Multicoin Capital, ParaFi Capital and FTX's LedgerPrime. Other backers include CMS Holdings' Bobby Cho, STEPN's Chief Revenue Officer Mable Jiang and the CEO of Altimeter Capital, Brad Gerstner. Modular is entering the market amid a slump in cryptocurrencies, which the firm eyes as an opportunity to buy — at cheap prices — tokens that are durable and will have staying power over the next one to three years.The firm plans to learn from the lessons of the market, which has seen countless hedge funds blow up during different cycles. Ho said the firm plans to avoid using leverage, thinking that the company can"generate incredible returns without any leverage.
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