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Fortune Star Digital Asset Fund (a professional Cayman Islands investment fund) has secured 3,547,437,988 LFE Cash tokens for its flagship digital asset fund that has been launched this week.
The deal itself was completed by its parent group Fortune Star Investments Ltd way back at the LFE ITO closing. FSI have provided much needed working capital and guidance for the LFE management team since closing out the ITO. Fortune Star Digital Asset Fund has appointed fund administrator IFINA UK to act and has confirmed the fund has a three year lock up which IFINA UK have also confirmed independently.
Sam Bratchie of IFINA UK stated: “Fortune Star Digital Asset Fund is another digital asset fund administered by IFINA UK and we are happy to have the opportunity to work with the sponsors of the fund. We are also permitted to confirm that the fund’s strategy is to hold their LFEC (LFE Cash tokens) for three years. The belief that the fund has in the LFE business model and ecosystem is plain for everyone to see.”
When asked for comment Jim Aylward, Founder of the LFE added: “For us, having institutional backing in the LFE Cash token is a huge moment. It shows our retail token holders that the token has true scarcity value now. Furthermore, it also shows that management and the majority of token holders are in this for the long haul. We are very excited about what the future holds in terms of news and more developments.”
Fortune Star Digital Asset Fund is managed by
