Economy/ Cooperation / Crypto
Wednesday, 11. May 2022
© Michael Schöngruber (Geschäftsführer und Mitgründer, 3Folio) gemeinsam mit Florian Wimmer (Geschäftsführer, Blockpit AG)
Austrian ‚Tigris Web3 Crypto Fund‘ on offer
Blockpit enters partnership with hedge funds manager 3Folio
Vienna, 11.5.2022 | 3Folio is a hedge fund management platform for crypto assets, founded in the beginning of the year in Vienna. According to a press release, Linz-based crypto tax expert Blockpit entered into a partnership with 3Folio as a shareholder and strategic partner. Blockpit guarantees compliance with all reporting standards for the fund management of digital assets for 3Folio. This includes the complete and legally compliant recording of blockchain transactions as well as the tax preparation and recording of the data records. „Digital assets are no longer only of interest to IT-savvy users, but are also used by both private and institutional investors. With its technology, 3Folio provides all the tools for hedge funds managers who need to plan a hedge fund for digital assets,“ says Florian Wimmer, CEO of Blockpit AG.
The 3Folio platform offers, among other things, portfolio tracking, an automated transaction book and user-defined fund calculation models within the context of decentralised finance and Web3 for hedge fund management. „With 3Folio, we want to lower the entry barriers into the hedge fund market and increase confidence by adhering to all the security and quality standards of a European company“, says Michael Schöngruber, CEO and co-founder of 3Folio. In addition to the expansion and evaluation of the existing functions in a first pilot project, further expansion in Europe and the USA, and the launch of an investor app are imminent.
Start with Tigris Web3 Crypto Fund
According to Michael Schöngruber, the hedge funds platform should be fully operational in the coming quarter. As a pilot project, the Tigris Web3 Alternative Investment Fund (AIF) of the venture capital company Venionaire Capital and the Austrian internet pioneer Peter Augustin is already being processed via the new 3Folio platform. However, the Tigris Web3 AIF is currently only being offered to a limited number of professional investors on the part of the issuer. According to Michael Schöngruber of 3Folio, this is not a contradiction. „The long-term goal of 3Folio is to lower the entry barriers and to offer providers of hedge funds in the crypto market a secure, accessible and transparent platform“. The company states it is currently at the end of the evaluation phase to be able to implement a listing of further alternative investment products and is already in contact with further fund investors. „The first experiences with the Tigris Web3 AIF have helped us to get to know the needs of hedge fund managers in the area of digital assets and to be able to implement them technically“, concludes Michael Schöngruber.
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Blockpit, founded in 2017 in Austria, is a leading provider of financial compliant solutions for the portfolio tracking and tax reporting of assets based on blockchain technology. Both individuals and corporations benefit from Blockpit´s tax compliance solutions that are permanently audited by globally leading audit, tax and advisory expert, KPMG. Blockpit offers its tax reporting services in Austria, France, Germany, Spain, Switzerland, and the United States of America, serving as a bridge between traders, tax advisers, institutions and tax authorities.
All images © Blockpit /3Folio
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