Cipher Chain Capital LogoCipher Chain Capital

First U.S. Institutional Market-Neutral Decentralized Finance Hedge Fund

Cipher Chain Capital has generated consistent, risk-adjusted performance since 2022, with positive net returns every year, regardless of broader market conditions.

Our Performance

Quantitatively Driven, Performance Proven.

Our strategies are built on a foundation of data and rigorous analysis, delivering consistent, market-beating results. We've facilitated over 11 figures in trading volume, a testament to our scale and robust infrastructure.

12% Annualized Net Returns
$25B+ Trading Volume
$25B+Total Trading Volume
12%+Avg Annual Returns
0Negative Years
3+Years Operating
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Award Nominations

Recognized Excellence

Nominated in 2023 for prestigious awards recognizing our outstanding performance and innovation in digital asset management, with nominations determined by quantitative performance.

Nominated by

HedgeWeekBarclay Hedge
01

Digital Assets Fund of the Year

02

Relative Performance of the Year – Digital Assets Fund

Our Strategies

A Multi-Strategy Crypto-Native Approach

We deploy capital across a diverse range of quantitative and fundamental strategies to capture alpha in the digital asset ecosystem.

Market Making

Providing liquidity across DeFi markets to generate consistent trading fee revenue.

Positive Carry Trades

Earning returns from DeFi carry trade strategies using funding rates or yield differentials.

Arbitrage

Exploiting price discrepancies across different centralized and decentralized exchanges.

Delta-Neutral

Collecting funding premiums from traders through delta-neutral strategies.
Our Philosophy

Innovation, Discipline, and Transparency

At Cipher Chain Capital, our philosophy is guided by three core principles that define our approach to the digital asset market.

  • Technological Edge

    We are committed to staying at the forefront of technology, continuously innovating our infrastructure and algorithms.

  • Disciplined Execution

    Our strategies are executed with systematic discipline, removing emotion from the investment process.

  • Alpha Generation

    Our primary goal is to generate uncorrelated performance, providing our investors with returns that are independent of traditional market movements.

Philosophy
Our Experts

Meet the Team

Our team comprises seasoned professionals from quantitative finance, data science, and technology.

Samuel Donnelly

Samuel Donnelly

Managing Partner, Fund Manager & COO

Experienced operations leader with expertise in fund management and strategic business development.

Nathan Goldbaum

Nathan Goldbaum

Managing Partner, Fund Manager & CIO

Chief Investment Officer with deep expertise in quantitative strategies and digital asset markets.

Kevin Mlynarek

Kevin Mlynarek

Director of Investor Relations

Leads investor communications and relationship management with institutional clients and partners.

Brent Gillett

Brent Gillett

Principal

Principal focused on strategy development and portfolio management across digital asset markets.

Testimonials

Trusted by Our Partners

Hear what our investors and partners have to say about their experience with Cipher Chain Capital.

"The team's deep understanding of the crypto markets is unparalleled. Their disciplined, quantitative approach provides a level of confidence that is rare in this asset class."

Johnathan Doe
Family Office CIO

"Cipher Chain Capital has been an essential partner in our digital asset allocation. Their focus on risk management and transparent reporting sets them apart from other funds."

Jane Smith
Institutional Investor
FordefiCirclePaxosOpenZeppelin
Quarterly Letters

Investor Communications

Stay informed with our quarterly letters providing insights into market conditions, performance, and strategic outlook.

Q2 2025 Investor Letter

Q2 2025 Investor Letter

Navigating through macro & geopolitical turbulence while capitalizing on regulatory tailwinds.

Read Letter →
Q1 2025 Investor Letter

Q1 2025 Investor Letter

Maintaining discipline through extreme volatility and positioning for structural opportunities.

Read Letter →
Q4 2024 Investor Letter

Q4 2024 Investor Letter

A comprehensive review of our performance and market outlook as we close out 2024.

Read Letter →
FAQ

Frequently Asked Questions

Answers to common questions about our fund and investment process.

Contact

Get in Touch

For inquiries from accredited investors and institutions, please use the form or contact us directly.

Address

1532 Graefield Rd, Birmingham, Michigan 48009