{"id":27034,"date":"2020-08-09T10:13:38","date_gmt":"2020-08-09T07:13:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27034"},"modified":"2025-08-26T18:18:44","modified_gmt":"2025-08-26T15:18:44","slug":"adamant-capitals-bitcoin-fund-ceases-operations","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/adamant-capitals-bitcoin-fund-ceases-operations\/","title":{"rendered":"Adamant Capital\u2019s Bitcoin fund ceases operations"},"content":{"rendered":"<p>The cryptocurrency fund Adamant Capital, run by the ardent Bitcoin advocate Tuur Demeester, has closed without much fanfare, according to <a href=\"https:\/\/www.theblockcrypto.com\/daily\/74326\/bitcoin-fund-adamant-shut-down\" target=\"_blank\" rel=\"noopener noreferrer\">The Block<\/a>.<!--more--><\/p>\n<p>Co-founder Mihkel Leskrovet, now managing the Tioga Capital venture fund, told the publication that Demeester shut the fund &#8216;for personal and family reasons&#8217;.<\/p>\n<p>Last month, Tuur Demeester posted a YouTube video in which he said that he was &#8216;slightly stepping aside&#8217; from the world of Bitcoin and intended to focus on &#8216;natural interests&#8217;. The latter include philosophy and global issues such as inflation and social instability.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/NaWGD562pNY\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<blockquote>\n<p>&#8220;I am working on several writing projects. One of them is devoted to philosophy, primarily the philosophy of freedom. I am also working on a project about Kurt Cobain. It is more like a biography,&#8221; said the founder of Adamant Capital at that time.<\/p>\n<\/blockquote>\n<p>He added that these two projects are long-term and are likely to take the form of books. As for Bitcoin, Demeester expressed the view that it is &#8216;growing&#8217; and &#8216;starting to act on its own&#8217;, becoming a popular object of political debate.<\/p>\n<h2>Fund assets under management<\/h2>\n<p>By November 2019, Adamant Capital managed about $10 million. According to filings with the U.S. regulator, Demeester&#8217;s firm managed two funds\u2014Adamant Fund I and Adamant Offshore Fund I.<\/p>\n<p>The minimum investment in Adamant Fund I per investor was $100 000, while for Adamant Offshore Fund I it was $218 897.<\/p>\n<p>Adamant Capital withdrew its registration with the U.S. Securities and Exchange Commission (SEC) in March this year, thereby ceasing to file reports.<\/p>\n<p>Adamant Capital was originally created to try to beat Bitcoin&#8217;s growth. However, that goal was never achieved. In particular, in September last year the fund fell 0.2% relative to Bitcoin and &#8216;only a little&#8217; rose in dollar terms. Soon after, the fund fell about 2% relative to Bitcoin.<\/p>\n<p>In a conversation with The Block, Leskrovet did not name specific participants in Adamant Capital, noting only that the fund had &#8216;very well-known investors&#8217;.<\/p>\n<blockquote>\n<p>&#8220;The largest investor in Adamant agreed to follow me to Tioga,&#8221; Leskrovet noted. &#8220;Tioga will soon close its first \u20ac10 million round, and later will increase its capital to \u20ac50 million.&#8221;<\/p>\n<\/blockquote>\n<p>In recent months, a number of well-known funds have ceased operations, including <a href=\"https:\/\/forklog.com\/en\/news\/crypto-fund-tetras-capital-shuts-down-after-75-loss-of-assets\">Tetras Capital, Prime Factor Capital<\/a>, Neural Capital and Adaptive Capital.<\/p>\n<p>Earlier ForkLog <a href=\"https:\/\/forklog.com\/en\/news\/pantera-capital-bitcoin-fund-posts-15140-return-over-seven-years\">reported<\/a> that the Pantera Bitcoin Fund managed to outperform Bitcoin, delivering a net return of 15,140% over seven years.<\/p>\n<p>Subscribe to ForkLog&#8217;s Telegram news: <a href=\"https:\/\/t.me\/forkloglive\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog FEED<\/a> \u2014 the full feed of news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency fund Adamant Capital, led by ardent Bitcoin proponent Tuur Demeester, has closed with little fanfare, The Block reports.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1867,1133],"class_list":["post-27034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-adamant-capital","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"12","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=27034"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27034\/revisions"}],"predecessor-version":[{"id":27035,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/27034\/revisions\/27035"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=27034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=27034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=27034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}