Sigil becomes a fully regulated Experienced Investor Fund
We are excited to share a major update with you. Following intensive legal and regulatory preparations over the past months, Sigil Fund is converting to a fully regulated Experienced Investor Fund ("EIF") structure in Gibraltar.
How it all started
Sigil was established in Gibraltar in the summer of 2018 as one of the first crypto funds in Gibraltar and Europe. Back in those days, the whole crypto industry was facing a big regulatory uncertainty. Gibraltar introduced its regulatory framework in January 2018 making crypto funds fully legal. Sigil established its crypto hedge fund in Gibraltar shortly after.
We started out managing mostly our own private money with a few “friends & family” investors, and we gradually built a strong track record with performance regularly beating both the EUR and BTC benchmarks.
Nowadays, the demand for Sigil wealth management services continues to be very strong from the external investors. Sigil established itself as the leading brand in terms of crypto research and DeFi yield farming operations.
Upgrade to an EIF
Experienced Investor Fund is a fully regulated financial institution with more external oversight. So our structure is expanding a bit:
- Sigil Fund is now subject to a mandatory statutory audit. We are pleased to announce our collaboration with a reputable audit firm RSM Gibraltar as the Sigil Fund’s auditor.
- The fund’s accounting and NAVs must be administered by a GFSC Licensed Fund Administrator. We are proud to work with a global legal firm Ince Limited as the Sigil Fund’s administrator.
- Sigil Fund's Board of Directors has expanded by appointing 2 independent EIF directors who hold a personal EIF license and act as a regulated oversight authority.
The EIF Directors
Aaron Payas is joining our Board as an independent EIF director. Aaron is a Partner at Hassans - a leading Gibraltar legal firm. Aaron has many years of experience in fund management and specializes in crypto funds.
Peter Howitt is joining our Board as an independent EIF director. Peter is a Managing Partner at Ince Gibraltar and a recognised legal expert in the field of cryptocurrencies, finance & payments law.
Upgrading to a fully regulated and advanced fund structure increases the credibility of the fund due to the closer external oversight and regulatory compliance. This is welcome news for investors and can be seen as a proof of reliability by the prospective investors.
Experienced Investor Funds can also run multiple sub-funds that are structured as Protected Cell Companies ("PCC"). This is perhaps the most exciting news related to the EIF upgrade.
Introducing Sigil Stable
Sigil is launching a brand new fund called Sigil Stable. Sigil Stable is focused on yield farming in DeFi while seeking to eliminate much of volatility, or in other words - it is intended to be market neutral. Sigil Stable eliminates the volatility of crypto markets by holding only tokenized dollars and euros ("Stablecoins") and/or market neutral positions.
The target return is over 35% p.a. in the coming year and allows us to pick up yields from the blockchain space without the need to worry about the price of bitcoin. Sigil Stable is open-ended and open to new investments from now onwards. This fund requires stablecoins to maintain their stability against currencies to maximise returns and minimise risks.
"We are very excited about the transition to EIF that allows us to grow bigger in a regulated environment and launch new sub-funds. We are thankful to our suppliers and the Gibraltar regulator for their ongoing support. Despite the rapid growth in the number of investors our approach to crypto investments remains the same - we are a private fund at heart meaning we manage our own money and give investors an exclusive opportunity to participate in it with their capital. I believe that “skin in the game” is absolutely essential in crypto funds ” - says Pavel Stehno, CEO and Co-founder of Sigil Fund.