An update on the Blockforce Vesper DeFi Growth Fund.

First, to get the obvious matters out of the way — we’ve had to push back the ETA for the Blockforce Vesper DeFi Growth Fund by about 30 days to the early September timeframe. As much as we had hoped and planned to launch as of, well, now we believe the macro market conditions over the past few months combined with the late July recovery is a net positive to our updated timeframe.

Like Vesper, we at Blockforce Capital place a premium on executing with excellence and believe that Vespernauts deserve…

We wanted to share a brief update on our work with Vesper Finance and the current timeline for launching our joint DeFi fund.

To Review

On April 21st we formally submitted a proposal to the Vesper DAO (Decentralized Autonomous Organization) to launch a new DeFi-focused fund exclusively with the Vesper community. It got some attention.

This unique, first-of-its-kind partnership will give the Vesper community a profit share of 25% in exchange for a financial grant (paid in the Vesper token VSP) to offset the fund formation, initial administration, and initial marketing associated with the first-year, stand-alone costs of launching a fund.

…

(as of 04/15/2021)*: MTD: 27.5% YTD: 230.6%

April Fund Commentary:

Just a quick update, we got a lot of great feedback on last month’s webinar, so we will be having another next week, details below.

The fund came into April like a lion. As of April 15th, we are +27.5% as compared to BTC +7.5%. The YTD fund returns currently stand as +230% vs BTC +118%. Breaking it down into components, BTC and ETH have performed quite nicely, but our early and significant allocation to Binance Coin (BNB) is contributing the most alpha to the “top three” allocation structure. …

(as of 03/31/2021)*: MTD: 24.20% YTD: 159.00%

March Fund Commentary:

The fund lagged BTC for the month (+24.2% BFC vs +30.5% BTC,) capturing 79.3% of the upside, whereas year to date we continue to outperform by 54.1%. (+159% BFC vs +103.2% BTC.) Given the defensive posture built into the fund, we are extremely pleased with the results. March was a challenging month as the market saw volatility compressed in short segments as well as extended periods of range-bound trading. …

as of 02/28/2021)*: MTD*:60.10% 2021: 108.7%

February Fund update:

The fund performed well compared to bitcoin in February. Once again our overweight allocation to Binance drove our fund well beyond our benchmarks. Binance dropped the whitepaper for their own smart contract chain in April of 2020 in order to compete with Ethereum’s smart contract platform. By January of 2021, many users switched over from Ethereum due to high gas prices and the low switching costs. This in turn drove the price up nearly 500% YTD.

The fund captured 165% of the upside of bitcoin in February and 211% in January…

(as of 10/31/2020): MTD*: 9.98% YTD: 53.3%

Well, It’s been a while.
I haven’t written you in a while, so this one is a bit of a rambler. If you make it to the end, thank you. I send updates like this to our hedge fund investors on monthly basis or I try to. If you’d like to be on this list, please let me know.

First and foremost, hello everyone! I hope you still remember us and look forward to our not so monthly commentary. In case you are not aware we are in the midst of the sale…

(as of 8/31/2020)*: MTD: 8.70% YTD: 46.70%

Market/Economic Conditions:
After a great month in July, Bitcoin remained in a range-bound market in August with a few attempts to break the $12,400 barrier but unfortunately, it failed to do so just after two days of testing this level. The market continues to speculate and capitalize on the Defi boom just in like previous months — for those new to our commentary, we have covered Defi in our past few letters. The returns in this extremely unpredictable sector somewhat mirror the boom of the ICO’s in 2017. As an example, we can…

(as of 8/14/2020) MTD: 9.49% YTD: 53.85%

Market/Economic Conditions:

August took many of us by surprise as it continued the bull market with relatively few pullbacks in the past two weeks. Not only did the market remain bullish, but the Fed announced plans for the development of its own experimental digital currency. It is important to note, however, that “FedCoin” as it is affectionately known will not offer any of the anti-inflationary protections that we see from digital assets such as Bitcoin. …