Built To Thrive
In Uncertain Times

A diversified portfolio of the world’s leading crypto hedge funds.
Targeting optimal risk-adjusted returns in USD, BTC and/or ETH.*

We evolve with the industry and regularly rebalance, so you don't have to. Review our performance here:

*Our net performance estimate is derived from performance estimates from each underlying fund in our portfolio. As we do not have final official statements from all underlying funds, our estimated performance will be adjusted as we receive more official statements, but is our best estimate as of the time of this email. Note: this is based on an investor who invested since inception in our onshore feeder with a 2/20 fee structure and high water mark. Depending on your fee structure, feeder structure and timing of investment, it would differ your actual net performance.

Amphibians Leap Multiple Times
Their Body Length.

We Aim for Excellence across Every Metric.

Amphibian Unite

AUM
$ 0 B+

Our consortium of 159+ of the world’s leading Digital Assets Funds, Market Makers and Traders.

Assets Under Management

AUM
$ 0 M+

Across our USD, BTC & ETH funds as of 11/20/24

YTD Performance

NET
0 %*

Estimated YTD Returns for our USD Alpha Fund as of 12/2/24

GPs & Team Members

0 +

Across our various funds

GP/Team AUM experience

AUM
$ 0 B+

Combined we have managed this amount across multiple asset classes

*Our net performance estimate is derived from performance estimates from each underlying fund in our portfolio. As we do not have final official statements from all underlying funds, our estimated performance will be adjusted as we receive more official statements, but is our best estimate as of the time of this email. Note: this is based on an investor who invested since inception in our onshore feeder with a 2/20 fee structure and high water mark. Depending on your fee structure, feeder structure and timing of investment, it would differ your actual net performance.

Amphibians Are Adaptable.

We are engineered to be resilient, across multiple weather conditions.

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Accredited investors, Large BTC & ETH Holders, Family offices, Institutional investors
There are 1000+ crypto hedge funds globally. We’ve reviewed 700+, done deep due diligence on the top 200+, and allocated our leading 10-15+ in one portfolio.
Investing is simple, liquid & transparent. Plus we have a 6% soft hurdle rate, so anything less there’s no performance fee.
Our funds are targeting double-digit net average annual returns in USD, BTC and/or ETH over a 5-10+ year period.

Amphibian Capital Thesis

It’s Simple…

See our performance by fund here:

Not Your Keys, Not Your Coins They Say...

Even Cold Storage has Risk. Is 0% yield still worth it?

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BTC on BTC Yield Live &
Pro-Forma Results*

Amphibian BTC Alpha Pro-Forma Net Performance Since 1/1/19: 163.20% (BTC on BTC)

2019
+ 0 %
2020
+ 0 %
2021
+ 0 %
2022
+ 0 %
2023
+ 0 %
2024 YTD
+ 0 %
*Pro forma performance, representing the average annualized performance from January 2019 through July 2023, net of all fees, for the portfolio of underlying funds that Amphibian Fund invested in beginning on August 1 2023, if the same portfolio had been fully invested as of January 2019 with no rebalancing. Please note each fund was added to the portfolio at a different time, and beginning on August 1, 2023 actual net fund performance is included. All underlying fund performance has been included from the date each fund was added to the portfolio. Note each underlying fund is the best estimate we have for the BTC share class. Not all were live as long as USD funds (so subtracted off funding costs etc for those time periods). This fund selection mirrors our latest ETH portfolio and a number of lessons from 13+ months of live data with that portfolio. In years prior to 2023, we’ve done our best to keep allocations to the max limits and adjust accordingly. Also know weightings over time would be slightly inaccurate as month on month weightings shift, depending on terms. **The Fund had approximately 5% exposure to FTX in November. This was marked as zero, but anticipate a high % of recovery given $7.3B has been recovered (30-50c on the dollar) ***Best projected estimate for July as of 7/23/24.

*Pro forma performance, representing the average annualized performance from January 2019 through July 2023, net of all fees, for the portfolio of underlying funds that Amphibian Fund invested in beginning on August 1 2023, if the same portfolio had been fully invested as of January 2019 with no rebalancing. Please note each fund was added to the portfolio at a different time, and beginning on August 1, 2023 actual net fund performance is included. All underlying fund performance has been included from the date each fund was added to the portfolio. Note each underlying fund is the best estimate we have for the BTC share class. Not all were live as long as USD funds (so subtracted off funding costs etc for those time periods). This fund selection mirrors our latest ETH portfolio and a number of lessons from 13+ months of live data with that portfolio. In years prior to 2023, we’ve done our best to keep allocations to the max limits and adjust accordingly. Also know weightings over time would be slightly inaccurate as month on month weightings shift, depending on terms.

Grow BTC on BTC, While Minimizing Risk

Amphibian Capital’s conservative target is 12%-15+% net APY yield to create more Alpha for long term BTC holders (USD/ETH also), while derisking through one of the world’s first crypto fund of funds approach

Robust Diligence & Risk Management

ROBUST DILIGENCE
& RISK MANAGEMENT

Liquid, Low Correlation Asset Class

LIQUID, LOW CORRELATION ASSET CLASS

Targeting Consistent Risk-adjusted Returns

Targeting CONSISTENT RISK-ADJUSTED RETURNS*

*Pro forma performance, representing the average annualized performance from January 2019 through July 2023, net of all fees, for the portfolio of underlying funds that Amphibian Fund invested in beginning on August 1 2023, if the same portfolio had been fully invested as of January 2019 with no rebalancing. Please note each fund was added to the portfolio at a different time, and beginning on August 1, 2023 actual net fund performance is included. All underlying fund performance has been included from the date each fund was added to the portfolio. Note each underlying fund is the best estimate we have for the BTC share class. Not all were live as long as USD funds (so subtracted off funding costs etc for those time periods). This fund selection mirrors our latest ETH portfolio and a number of lessons from 13+ months of live data with that portfolio ** Not a promise or guarantee the crypto 4 year cycle will continue *** Only one major counterparty ‘exchange’ event impacted our underlying funds by more than 3% total AUM in the last 5 years. Avoided all others. That was with FTX and approx 4.5%-6% impact on our USD & ETH fund. This breaks down to 8.5% exposure on USD, current bids on secondary markets and potential forecasts indicate a likelihood to recover 30c-50c on the dollar. This translates to 4.5%-6% potential impact). Outside of this, we had one other event from an underlying fund with 2.7% portfolio drawdown. This translates to approximately 1.54% average counterparty risk across the last 5 years. Our max portfolio strategy drawdown monthly target is < 1.5%, our max counterparty drawdown target is less than one year of yield target with -9.9%.
**Estimate based on daily data from the underlying funds. It reflects the risk-adjusted performance of the portfolio but should be viewed as indicative rather than precise, given the inherent variability in daily data and external factors affecting the portfolio’s returns.

Introducing a Few of our Team Members

James Hodges
JAMES HODGES,

MANAGING PARTNER &

CO-FOUNDER

Multiple Founder & Crypto Influencer. Finance @ UC Berkeley, in Crypto since ‘13. Helped Scale Fintech start-up MX.com from 2-28M users.

Alexandre Pereira
Alexandre Pereira,

COO, Former COO Global
Equites, HSBC

20+ years in global investment banking and crypto hedge funds, specializing in equities, crypto execution technology, operations, risk, and compliance

Todd Bendell
TODD BENDELL,

CFP(R) GENERAL PARTNER
& CO-FOUNDER

6+ years at Merrill Lynch, Runs $100M+ AUM Private Weath Management Practice, Crypto Investor since ‘14.

James Hodges
JAMES HODGES,

MANAGING PARTNER &

CO-FOUNDER

Multiple Founder & Crypto Influencer. Finance @ UC Berkeley, in Crypto since ‘13. Helped Scale Fintech start-up MX.com from 2-28M users.

Alexandre Pereira
Alexandre Pereira,

COO, Former COO Global
Equites, HSBC

20+ years in global investment banking and crypto hedge funds, specializing in equities, crypto execution technology, operations, risk, and compliance

Todd Bendell
TODD BENDELL,

CFP(R) GENERAL PARTNER
& CO-FOUNDER

6+ years at Merrill Lynch, Runs $100M+ AUM Private Weath Management Practice, Crypto Investor since ‘14.

Ivailo Jordanov
Ivailo Jordanov,

General Partner & Fund Selection

Prolific crypto quant fund investor with 10+ years experience in crypto. Lead crypto partner at $100M VC fund. Invested in 300+ projects since 2016.

Amphibians Are Adaptable and Can Leap, Far. They Are Also Resilient.

Our approach to risk management.

When most people hear ‘consistency’ in Digital Assets, they often take a second look. Therefore we get to approach things DIFFERENTLY. With 30+ GPs and team members including former CIO fixed income at Blackrock, Co-CIO at Panterra/current crypto partner at Founders Fund, ex Partner at PIMCO, Former COO Global Equities at HSBC etc, we bring a wealth of knowledge and expertise to the space.

Our Framework for Managing Risk in Digital Assets:

Our Framework For Managing Risk In Digital Assets

WHAT OUR CURRENT LPS ARE SAYING ABOUT AMPHIBIAN CAPITAL

There’s a level of consistency and repeatability that shows they have strong manager selection skills

“I’m an investor in Amphibian because I believe they’re the best crypto quant fund of funds. The return on my ETH has far exceeded my expectations, and there’s a level of consistency and repeatability that shows they have strong manager selection skills. This is a fund that operates with discipline and the foresight needed in digital assets.”

I feel more informed and better positioned for long-term gains

I had moved a substantial part of my portfolio from tech stocks into the ETH fund of funds, just before the FTX chaos hit. The risk and volatility in late 2022 were beyond anything I’d faced, but Amphibian's team was ready. Todd and James calmed my nerves with clear, frequent updates and even personal conversations. Now, I feel more informed and better positioned for long-term gains, thanks to their unique strategy and seasoned leadership.

Their diligence in analyzing our trades and strategy is both thorough and highly specific.

"I’ve had the pleasure of working with Amphibian Capital for nearly three years. Their diligence in analyzing our trades and strategy is both thorough and highly specific. They possess a deep understanding of various risk types and the corresponding expected returns. Amphibian Capital stands out as the most sophisticated and knowledgeable fund of funds I’ve encountered in this industry.""

Consistently deliver results with a disciplined approach

“We’ve seen James and his team at Amphibian consistently deliver results with a disciplined approach. Our confidence as experienced allocators is unwavering.”

Highly skilled and genuinely focused on aligning with their investors’ goals

"I have a lot of confidence in Amphibian Capital's team and their thoughtful, steady approach to navigating the volatile world we live in. Their performance has been stellar since I invested. What I value the most is the trust I’ve built with their leadership. The team is highly skilled and genuinely focused on aligning with their investors’ goals. I feel like a true partner in their journey, which has been a meaningful experience and most importantly we are all aligned in having pure intention of giving back via donating a large proportion of profits to worthwhile causes."

The balance between risk and performance is well articulated and transparent

"I have been very pleased with the consistent performance of the funds I am invested in and the professionalism of team at Amphibian Capital. The balance between risk and performance is well articulated and transparent and the founders have always been generous with their time to provide market insight and answer questions. Whilst the BTC and ETC funds don’t have a long track record, I wouldn’t hesitate to recommend Amphibian Capital to friends and colleagues due to reasons aforementioned, including reliability."

What Our Current LPs Are 
Saying About Amphibian Capital

There’s a level of consistency and repeatability that shows they have strong manager selection skills

“I’m an investor in Amphibian because I believe they’re the best crypto quant fund of funds. The return on my ETH has far exceeded my expectations, and there’s a level of consistency and repeatability that shows they have strong manager selection skills. This is a fund that operates with discipline and the foresight needed in digital assets.”

I feel more informed and better positioned for long-term gains

I had moved a substantial part of my portfolio from tech stocks into the ETH fund of funds, just before the FTX chaos hit. The risk and volatility in late 2022 were beyond anything I’d faced, but Amphibian's team was ready. Todd and James calmed my nerves with clear, frequent updates and even personal conversations. Now, I feel more informed and better positioned for long-term gains, thanks to their unique strategy and seasoned leadership.

Their diligence in analyzing our trades and strategy is both thorough and highly specific.

"I’ve had the pleasure of working with Amphibian Capital for nearly three years. Their diligence in analyzing our trades and strategy is both thorough and highly specific. They possess a deep understanding of various risk types and the corresponding expected returns. Amphibian Capital stands out as the most sophisticated and knowledgeable fund of funds I’ve encountered in this industry.""

Consistently deliver results with a disciplined approach

“We’ve seen James and his team at Amphibian consistently deliver results with a disciplined approach. Our confidence as experienced allocators is unwavering.”

Highly skilled and genuinely focused on aligning with their investors’ goals

"I have a lot of confidence in Amphibian Capital's team and their thoughtful, steady approach to navigating the volatile world we live in. Their performance has been stellar since I invested. What I value the most is the trust I’ve built with their leadership. The team is highly skilled and genuinely focused on aligning with their investors’ goals. I feel like a true partner in their journey, which has been a meaningful experience and most importantly we are all aligned in having pure intention of giving back via donating a large proportion of profits to worthwhile causes."

The balance between risk and performance is well articulated and transparent

"I have been very pleased with the consistent performance of the funds I am invested in and the professionalism of team at Amphibian Capital. The balance between risk and performance is well articulated and transparent and the founders have always been generous with their time to provide market insight and answer questions. Whilst the BTC and ETC funds don’t have a long track record, I wouldn’t hesitate to recommend Amphibian Capital to friends and colleagues due to reasons aforementioned, including reliability."

The testimonials provided are from Current Clients, Limited & General Partners of Amphibian Capital.
No compensation was provided for the statements, and the statements do not present any material conflicts of interests.

Lastly, Amphibians Have a Significant Impact on Their Ecosystems and at Certain Stages of Their Development, Are Regenerative…

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That’s why we have designed Amphibian Capital to turn potential profits into good.

Coming soon
launching 11/1/24