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Scottish firm Cigrek Capital has launched a fully regulated Dubai solution for digital asset strategy managers seeking distribution to institutional and high net worth investors in the Gulf region.
Cigrek expects the first strategies under the new umbrella to be rolled out to investors in the fourth quarter of this year.
The launch complements Cigrek’s existing regulated EU platform, which is recruiting its first managers interested in European distribution channels.
Appetite for digital assets
The Dubai platform is designed to meet the needs of UAE high net worth investors and family offices for digital asset strategies.
Fund managers will be advisors to these cells, which are located under Dubai’s fully regulated umbrella. This launch addresses the needs of Gulf investors for a local, regulated solution that meets many of the due diligence boxes they require.
Cigrek will also assist with distribution, including initial seed commitments for various strategies under the umbrella. New managers will need to demonstrate their investment eligibility, including a certified track record of the strategies they are pursuing.
great interest
Laura Barscevska, Managing Director of Cigrek Capital, said: “Dubai has already seen significant interest in investing in digital assets and is fast becoming one of the world’s leading centres in terms of local knowledge and market interest. The new platform aims to bring the digital realm together. of leading investment talent is matched by wealthy Gulf investors who want more exposure to this asset class.”
Cigrek Capital is already in discussions with several established digital asset fund managers to launch its first strategy under the new Dubai structure. Many of these already have existing partially regulated funds, but find that this may not always be suitable for asset raising.
Working with Cigrek, managers can choose to distribute in the UAE or Europe, or both.
“Our Dubai investment platform has been built to meet a real need for a local regulated platform that will allow investors to distribute to some of the best cryptocurrency management talent,” Barscevska added. “We are already in discussions with some of the pioneering fund managers in the space, and we will bring this to the Gulf market in due course.” – arab trade news agency
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