International Monetary Fund
Advisor to Executive Director
Risk Management
At the core of the strategy
Digital Assets Hedge Fund and Leading DeFi Liquidity Provider
Edge Capital is a leading venture and market-neutral fund that manages more than $500m of assets for crypto fund of funds, institutional investors as well as largest crypto foundations and treasuries since 2020
funds
Liquid fully market-neutral fund
Generating venture-style returns by applying multi-strategy approach designed to capture value across CeFi & DeFi
Targeting 15-25% net returns in USD, ETH, BTC, and SOL
Targeting 3+ Sharpe, limited drawdowns, uncorrelated to digital assets
~$500m+ assets under strategies and 4-year track record
Audited and regulated track record, 3.5+ Sharpe since 2020, 0.01 correlation to BTC.
Yield on top of BTC, ETH, SOL
The fund has the ability to generate returns in crypto-denominated share classes while keeping full directional risk on BTC, ETH, SOL, AVAX, and INJ
Edge MN
SP500
HF Index
Arbitrage Index
Leading liquidity (TVL) provider in crypto
Restaking
Basis Trades
Lending Protocols
DEXes
150+ Trusted Partners
New York
London
Singapore
Regulated and Audited
The fund is registered as mutual fund in the Cayman Islands and the management company is regulated in multiple jurisdictions
Track Record
Net Returns for Various Share Classes*
Fund's Net Returns (USD, %)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| '20 | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.4% | 3.7% | 2.0% | 0.1% | 2.4% | 11.2% |
| '21 | 1.4% | 0.8% | 4.9% | 5.6% | 1.5% | 1.3% | 1.6% | 2.8% | 2.3% | 1.5% | 1.0% | 0.6% | 28.1% |
| '22 | 1.3% | 1.2% | 1.6% | 0.6% | 5.2% | -1.4% | 0.4% | 0.1% | 0.2% | 0.7% | -2.4% | 0.0% | 7.6% |
| '23 | 0.9% | 0.9% | 4.6% | 0.7% | 0.2% | 0.3% | 0.5% | 0.2% | 0.0% | -0.2% | 1.0% | 2.6% | 12.2% |
| '24 | 1.7% | 1.6% | 3.6% | 3.7% | 1.9% | 3.9% | 2.5% | 1.7% | 2.3% | 0.7% | 2.1% | 1.2% | 30.3% |
| '25 | 1.5% | 0.8% | 0.9% | 0.7% | 1.4% | 1.4% | 1.0% | 1.0% | 0.0% | 0.0% | 0.0% | 0.0% | 9.1% |
| Year | '20 | '21 | '22 | '23 | '24 | '25 |
|---|---|---|---|---|---|---|
| Jan | 0.0% | 1.4% | 1.3% | 0.9% | 1.7% | 1.5% |
| Feb | 0.0% | 0.8% | 1.2% | 0.9% | 1.6% | 0.8% |
| Mar | 0.0% | 4.9% | 1.6% | 4.6% | 3.6% | 0.9% |
| Apr | 0.0% | 5.6% | 0.6% | 0.7% | 3.7% | 0.7% |
| May | 0.0% | 1.5% | 5.2% | 0.2% | 1.9% | 1.4% |
| Jun | 0.0% | 1.3% | -1.4% | 0.3% | 3.9% | 1.4% |
| Jul | 0.0% | 1.6% | 0.4% | 0.5% | 2.5% | 1.0% |
| Aug | 2.4% | 2.8% | 0.1% | 0.2% | 1.7% | 1.0% |
| Sep | 3.7% | 2.3% | 0.2% | 0.0% | 2.3% | 0.0% |
| Oct | 2.0% | 1.5% | 0.7% | -0.2% | 0.7% | 0.0% |
| Nov | 0.1% | 1.0% | -2.4% | 1.0% | 2.1% | 0.0% |
| Dec | 2.4% | 0.6% | 0.0% | 2.6% | 1.2% | 0.0% |
| YTD | 11.2% | 28.1% | 7.6% | 12.2% | 30.3% | 9.1% |
Crypto share classes
Generate yield on top of your tokens
Fund's BTC Net Returns (BTC-on-BTC, %)
Yield on top BTC holding, with preserving full directional risk on BTC
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| '20 | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.5% | 3.0% | 2.0% | 0.1% | 1.9% | 9.8% |
| '21 | 1.0% | 0.5% | 4.3% | 4.1% | 1.2% | 1.3% | 2.5% | 2.9% | 1.9% | 1.3% | 1.1% | 0.4% | 24.8% |
| '22 | 1.6% | 1.1% | 1.5% | 0.7% | 6.2% | -2.2% | 0.3% | 0.1% | 0.2% | 0.7% | -2.9% | 0.0% | 5.6% |
| '23 | 0.6% | 0.9% | 3.8% | 0.7% | 0.2% | 0.3% | 0.5% | 0.2% | 0.0% | -0.2% | 1.0% | 2.2% | 10.6% |
| '24 | 1.6% | 1.0% | 3.3% | 4.1% | 1.6% | 4.5% | 2.3% | 2.2% | 1.9% | 0.5% | 1.3% | 1.4% | 29.1% |
| '25 | 1.2% | 1.3% | 0.9% | 0.3% | 1.0% | 1.4% | 0.8% | 1.2% | 0.0% | 0.0% | 0.0% | 0.0% | 8.3% |
| Year | '20 | '21 | '22 | '23 | '24 | '25 |
|---|---|---|---|---|---|---|
| Jan | 0.0% | 1.0% | 1.6% | 0.6% | 1.6% | 1.2% |
| Feb | 0.0% | 0.5% | 1.1% | 0.9% | 1.0% | 1.3% |
| Mar | 0.0% | 4.3% | 1.5% | 3.8% | 3.3% | 0.9% |
| Apr | 0.0% | 4.1% | 0.7% | 0.7% | 4.1% | 0.3% |
| May | 0.0% | 1.2% | 6.2% | 0.2% | 1.6% | 1.0% |
| Jun | 0.0% | 1.3% | -2.2% | 0.3% | 4.5% | 1.4% |
| Jul | 0.0% | 2.5% | 0.3% | 0.5% | 2.3% | 0.8% |
| Aug | 2.5% | 2.9% | 0.1% | 0.2% | 2.2% | 1.2% |
| Sep | 3.0% | 1.9% | 0.2% | 0.0% | 1.9% | 0.0% |
| Oct | 2.0% | 1.3% | 0.7% | -0.2% | 0.5% | 0.0% |
| Nov | 0.1% | 1.1% | -2.9% | 1.0% | 1.3% | 0.0% |
| Dec | 1.9% | 0.4% | 0.0% | 2.2% | 1.4% | 0.0% |
| YTD | 9.8% | 24.8% | 5.6% | 10.6% | 29.1% | 8.3% |
About
Edge Capital
Experts in DeFi smart contracts and digital assets since 2020
Returns
Generating USD and crypto-denominated returns in BTC, ETH, SOL, USDT & more token share classes
Leading crypto foundations
Current investors and trusted partners are leading crypto foundations, banks, FoFs and ETF providers.
Comprehensive Risk Management
Legal structuring, strict risk limits on drawdowns, largest insurance purchaser against hacks.
DeFi Experts
Recognized as experts within the DeFi ecosystem, sought after by leading protocols and institutions.
Liquidity for DeFi protocols
As part of our market-neutral strategy, we are one of the largest players in providing liquidity (TVL) to early-stage protocols
Strategic partners for early-stage protocols
seeking TVL to boost growth
Liquidity providers
for emerging projects
Driving high-potential projects
leading institutions
$3bn in volume
150+ protocols staked, 10k transactions
One of the largest restakers on EigenLayer
$1bn+
We are always on the lookout for new and emerging protocols to partner with. Please submit your request if you need liquidity.
Investment Strategies
Non-directional, Multi-Strategy approach covering the entire spectrum of CeFi and DeFi trading opportunities.
Liquidity (TVL) Provisions
Depositing liquidity into smart contracts in exchange for yield and tokens
Interest rate arbitrage
Utilizing low-cost financing via smart contracts to generate market-neutral yield
Yield Farming
Generate market-neutral yield by receiving reward tokens from smart contracts
Basis Trading
Market-neutral carry trades based on funding rate arbitrage
Smart contract audit
Tail-risk hedges
Insurance
Robust alert systems
Core Partners
Vadim Khramov, Ph.D
Founder, Chief Investment Officer
- 20+ years experience across traditional finance, academia, computer science & security and digital assets and smart contracts;
- UCLA - PhD (macroeconomics and computer science);
- Bank of America Director FI/FX Rates, Board of IMF, Trend Capital PM ($2bn Macro Hedge Fund).
2016
2017
2018
2020
2021
2022
2023
2025
International Monetary Fund
Advisor to Executive Director
Bank of America Merrill Lynch
Director for FI/FX Strategy
Trend Capital Management LP
Investment Team (AuM at ~$2bn in 2018)
Edge Capital
Founder and CIO
Worked with the FBI on high profile smart contract hack cases.
Secured largest insurance claim in blockchain history.
Genesis Restructuring Committee
Engineered first tri-party agreement for off-exchange custody with leading banks.
Bank of America Merrill Lynch
Director for FI/FX Strategy
Trend Capital Management LP
Investment Team (AuM at ~$2bn in 2018)
Edge Capital
Founder and CIO
Worked with the FBI on high profile smart contract hack cases.
Secured largest insurance claim in blockchain history.
Genesis Restructuring Committee
Engineered first tri-party agreement for off-exchange custody with leading banks.
Leadership Team
Robert Mkrtchian
Head of Research
Boback Khodadoost
Business Development
Arseny Klekovkin
Edge Ventures Managing Partner
Marianna Dzyubo
IR Associate
Alexey Tarasov
Head of Operations
Robert Mkrtchian
Head of Research
Boback Khodadoost
Business Development
Arseny Klekovkin
Edge Ventures Managing Partner
Marianna Dzyubo
IR Associate
Alexey Tarasov
Head of Operations
Investments and Partners across the globe
Legal disclaimers Disclosures
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