In the latest consolidation move within the digital assets space, Parataxis Capital, well-regarded for its focus on digital assets, has announced its acquisition of funds managed by Strix Leviathan. These funds reportedly oversee in the region of $20 million in assets, though precise financial terms of the deal remain undisclosed.
This strategic acquisition is part of Parataxis’s broader plans to significantly expand its asset base. Edward Chin, the firm’s co-founder, noted in an interview that the firm currently manages assets exceeding $150 million. With this acquisition, among other strategies yet to be disclosed, Parataxis anticipates a substantial increase in its assets under management, targeting the $500 million mark by the close of the fiscal year.
Chin emphasized the firm’s aggressive stance in the current market environment, pointing to numerous under-scale digital asset managers that control $20-$25 million in assets under management as potential targets for acquisition. This proactive acquisition strategy signals Parataxis’s intent to capitalize on what it perceives as opportunities within a fragmented and rapidly evolving market landscape.
The hedge fund firm plans to take over the management of Strix Leviathan’s funds starting February 1. The acquisition trail outlined by Parataxis suggests further strategic purchases could be on the horizon as the firm seeks to cement its position among the substantial players in the digital asset management sphere.