Fund launches & closures

Sharp Peak set to launch with $50m

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Hong Kong-based DragonBack Capital is launching the Sharp Peak Vega Fund on 3 October with its equity long volatility/convexity strategy after securing approximately $50 million capital from institutional investors.

The launch size for Sharp Peak Vega Fund is smaller than the $100 million that the group had originally sought to raise this year, but is considered respectable enough given the difficulty faced by most start-ups in attracting seed capital in the current challenging market environment.

The fund is run by Jean-Guy Renard and Jonathan Hodgson – who have previously worked at Credit Suisse in Hong Kong – and former Singapore-based