DNA Fund, a player in emerging tech and Web3 investments, has acquired Coral Capital Holdings, an investment management firm that has previously managed millions in the DNA founders’ funds.
DNA and its founders have invested in or founded projects such as Tether, EOS, Mastercoin, Bancor, and Hedera Hashgraph. The acquisition will see the DNA Fund manage an additional AUM of over $50 million, which includes Coral’s hedge and venture funds focused on DeFi, AI, blockchain, and other emerging technology sectors. Some of Coral’s top-performing investments include Near Protocol and Atmos Labs.
“By bringing Coral Capital under our umbrella, we are not only expanding our investment capabilities but also enhancing our ability to offer unique, high-growth opportunities to our clients,” DNA Fund CEO Christopher Miglino said. “Our combined expertise allows us to navigate the complexities of the digital asset landscape and continue delivering value to our investors.”
“Joining forces with DNA Fund is an exciting new chapter for Coral. Our shared vision for leveraging technology to drive financial growth is perfectly aligned,” Coral’s CIO Thomas L. McLaughlin added. “Together, we are set to redefine what’s possible in digital asset investments and deliver superior results for our investors.”
Since its inception in 2021, Coral said it has delivered consistent returns with innovative strategies, delivering high multiples on the benchmark of the overall market cap of digital assets. Coral’s Flagship fund, initially started as a market-neutral vehicle, was rebranded in 2023 as a discretionary liquid token, surviving a number of high-volatility events, including FTX and Terra.
DNA Fund said it has produced a 61.6% return (net of fees) and a maximum annual drawdown of 11.6% in FY 2022, adding these funds have outperformed the broader digital asset market. Over a similar period, Bitcoin returned 36.7%.
Through this acquisition, DNA Fund also aims to capitalize on the growing interest from institutional investors and expand into several new verticals over the coming year, including a Bitcoin & Ether Yield Fund, and more speculative funds focused on AI, memecoins and microcaps.
