3Folio is a hedge fund management platform for crypto assets, founded in the beginning of the year in Vienna. According to a press release, Linz-based crypto tax expert Blockpit entered into a partnership with 3Folio as a shareholder and strategic partner. Blockpit guarantees compliance with all reporting standards for the fund management of digital assets for 3Folio. This includes the complete and legally compliant recording of blockchain transactions as well as the tax preparation and recording of the data records. “Digital assets are no longer only of interest to IT-savvy users, but are also used by both private and institutional investors. With its technology, 3Folio provides all the tools for hedge funds managers who need to plan a hedge fund for digital assets,” says Florian Wimmer, CEO of Blockpit AG.
3Folio’s platform provides portfolio tracking, an automatic transaction book, and user-definable fund calculation models. It is also available within the contexts of decentralised finance, Web3 for hedge fund administration, and Web3 to facilitate fund management. “With 3Folio, we want to lower the entry barriers into the hedge fund market and increase confidence by adhering to all the security and quality standards of a European company”, says Michael Schöngruber, CEO and co-founder of 3Folio. The expansion and evaluation of existing functions in a pilot project are just the beginning. Further expansion in Europe and America is also planned, as well as the launch of an investor app.
Start with Tigris Web3 Crypto Fund
According to Michael Schöngruber, the hedge funds platform should be fully operational in the coming quarter. The Tigris Web3 Alternative Investor Fund (AIF), a venture capital firm Venionaire Capital, and Peter Augustin, an Austrian internet pioneer, is being processed through the 3Folio platform as a pilot project. The Tigris Web3 AIF, however, is only currently being offered to a small number of professional investors. According to Michael Schöngruber of 3Folio, this is not a contradiction. “The long-term goal of 3Folio is to lower the entry barriers and to offer providers of hedge funds in the crypto market a secure, accessible and transparent platform”. According to the company, it is in the final phase of evaluation to be able list additional investment products. It is also currently in contact with fund investors. “The first experiences with the Tigris Web3 AIF have helped us to get to know the needs of hedge fund managers in the area of digital assets and to be able to implement them technically”, concludes Michael Schöngruber.