Split Capital winds down as founder cites $100 billion crypto venture ‘last dance’, joins Plasma
The Block
Split Capital is winding down due to a broken crypto fund model, with founder Zaheer Ebtikar joining Plasma as chief strategy officer.Summary
Split Capital, a crypto hedge fund, is closing down after nearly two years of operation. Founder Zaheer Ebtikar cited a "broken business model" for crypto-focused funds, noting that despite over $100 billion in venture funding, the industry has struggled to define value. Ebtikar stated that Split Capital was profitable and that "virtually every investor made money." He has now joined stablecoin settlement chain Plasma as chief strategy officer, where he will focus on partnerships, investor relations, and product development, including the launch of "Plasma One."
(Source：The Block)