Clifford Chance has advised Düsseldorf-based consulting and investment firm Postera Capital on the launch of the first EU-regulated cryptoasset fund "Postera Fonds - Crypto I" in Liechtenstein.

The innovative fund is regulated under the European Directive 2011/61/EU on Alternative Investment Fund Managers. On 26 February 2018, the FMA Financial Market Authority Liechtenstein authorised the fund under Liechtenstein law in the legal form of a trusteeship for professional investors.

The Postera Fund - Crypto I invests in a portfolio of five to eight krypoassets with a market capitalisation of over EUR 1 billion each, including the most popular bitcoin and ethereum crypto assets.

Postera Capital is the promoter of the fund and has developed the concept and the investment strategy. The Postera Fund - Crypto I is managed by IFM Independent Fund Management AG, the portfolio management has been taken over by Quorus Vermögensverwaltung AG in Liechtenstein.

Specialising in investment opportunities in cryptoassets, Postera provides financial analysis and ratings on crypoassets as well as the development of investment strategies and process consulting for professional investors. Postera Capital is also a fund promoter. In this function, the company develops fund concepts that give professional investors access to the cryptoasset asset class. Postera is the only provider in Germany to date with an integrated evaluation approach for cryptoassets.

The Clifford Chance team advising Portera Capital comprised partner Dr. Gregor Evenkamp, counsel Dr. Alexandra Uhl and associate Werner Radziwill (all Banking & Capital Markets, Frankfurt).