Carey Olsen's investment funds team in Jersey has advised CoinShares Group on the successful first close of CoinShares Fund II.
The new investment vehicle follows the June 2017 launch of CoinShares Fund I, reported to be the first fund to be denominated in Ethereum.
Like its predecessor, the closed-ended fund will invest in a range of opportunities in the blockchain space, among them newly created digital assets emerging from Initial Coin Offerings.
The fund has been authorised under the Jersey Private Fund Regime, which provides for a streamlined regulatory authorisation process.
Jean-Marie Mognetti, Co-Principal of CoinShares, said: "The decision to launch an additional fund in Jersey under the Jersey Private Fund regime was based not only the success of CoinShares Fund I, which over a nine-month period has delivered 92 per cent net of fees outperformance against Ether, but also to demonstrate commitment to Jersey as a jurisdiction with a sound regulatory regime that supports innovative product offerings for investors."
The Carey Olsen team advising CoinShares was led by Partners James Mulholland and Chris Griffin, assisted by Senior Associates Colin Masterton and Claire Le Quesne, and Associate Joseph Barker-Willis.