Anthony Scaramucci’s SkyBridge Capital filed with the U.S. Securities and Exchange Commission (SEC) to launch its own Bitcoin fund. The latest filing signifies that Scaramucci wants to approach only accreted investors. Scaramucci is the former White House communications director, also the former vice president of Goldman Sachs. The fund also known as SkyBridge Bitcoin Fund L.P. will have Scaramucci as its manager.
As per the SEC document, SkyBridge Capital filed a Form D with the regulatory agency for its first bitcoin fund. Although the target size of the investment fund is not disclosed, it seeks a minimum investment of $50,000 from participants.
The hedge fund has registered the new fund under Rule 506(c). This signifies that the issuer can advertise its offering with the condition of buyers being accredited investors.
If the proposal gets accepted, it could signify that more institutional investors will get exposed to bitcoin through the SkyBridge Bitcoin Fund L.P. As per the document, the proposed fund is classified as a hedge fund.
The Form D for an exempt offering also appeared on the Securities and Exchange Commission’s website. The proposal listed SkyBridge Bitcoin Fund L.P. as the issuer and SkyBridge Bitcoin Fund GP LLC as a related person.
The SEC filing stated:
In mid-November, SkyBridge initially filed with the U.S. Securities and Exchange Commission (SEC) for investing in crypto assets like bitcoin. A month later, the firm filed again with the regulatory agency for launching its own Bitcoin fund.
SkyBridge Capital was founded in 2005 by Anthony Scaramucci, Brett S. Messing, Raymond Nolte, and Troy Gaveski. The company currently manages over $9.2 billion in assets under management (AUM).