Cryptocurrency index fund manager Crescent Crypto Asset Management has completed Series A financing round, which was led by FBG Capital.

The company has also announced the launch of offshore cryptocurrency index fund for international investors.

Crescent intends to use new funds to grow its assets under management by leveraging the global presence of FBG Capital.

Additionally, FBG will help Crescent in creating and listing multi-coin products on traditional financial exchanges.

Crescent Crypto co-founder Michael Kazley said: “We are excited to partner with FBG Capital in order to grow the business and bring the Crescent 20 to international investors who have shown significant demand.”

With the new funding, Crescent also plans to expand its team and appoint new people to lead the sales and business development functions.

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Crescent Crypto

It aims to hire people from bulge bracket investment banking firms and leading ETF providers with similar objectives to bring cryptocurrencies into mainstream transactions.

Further, it plans to develop a digital asset research and advisory platform with the funding.

The company announced that the new Cayman fund carries a minimum investment of $250,000. Currently, it is accepting subscriptions with a management fee of 2% and quarterly redemptions.

However, its onshore fund requires an investment of $100,000 and is limited to accredited investors.

Established last year, Crescent Crypto’s flagship product Crescent 20 Index Fund aims to hold the returns of the investment grade crypto universe with a passive, rules-based approach.