The fund is linked to currencies backed by the dollar.
Fuse Capital, an investment manager focused on technology companies, is launching a fund backed by stablecoins. These currencies are backed by an asset. In the case of Capital Wasabi DeFi Yield, it will be in dollar-pegged stablecoins. This lowers the volatility of the fund compared to those who follow bitcoin and ethereum, for example.
The company, which has Hashdex in its portfolio of companies in which it has invested, says its goal is to promote returns of more than 20% per year in US dollars. The minimum investment is US$ 100 thousand.
“With Wasabi, the first fund of its kind in Brazil, we confirm our vocation to offer alternative investments focused on technology that allow our investors to access the appreciation potential promoted by the technological transformations underway in the world”, says Dan Yamamura, partner at Fuse . According to him, the fund “has been running for months with consistent results”, he adds.
“Wasabi works very similarly to fixed income or high yield funds,” said fund manager Marcelo Weiskopf, who spent 18 years at Fox Investimentos. In that company, he was portfolio manager of the global portfolio of currencies and fixed income of the house’s main fund, a high performance hedge fund.
“Wasabi is not only the first fund of its category in Brazil, but also one of the first in the world with this dynamic”, he said. According to Weiskopf, who will operate from Miami, Fuse will use decentralized finance (DeFi) solutions and proprietary methodologies to operate in the high-performing crypto segment.
Wasabi is managed by Atlas Fund Services LLC and custody is held by Grupo Transfero, which has a B2B focus. “Transfero’s partnership with Fuse Capital positions us as a relevant player in the universe of funds, both in terms of controlling and brokerage, in addition to carrying out more complex operations within this cryptoasset ecosystem, including some that today are still are not made in Brazil”, said Carlos Eduardo Russo, CFO of Transfero.