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Apollo Capital forges Singapore partnership

The firm's crypto funds will be offered by a family office in the city-state.
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Apollo Capital, an Australian crypto asset manager, has formed a strategic relationship with Pilgrim Partners Asia (PPA), a CMS licensed fund manager with the Monetary Authority of Singapore (MAS)

“Asia is an important market for Apollo and Singapore is fast becoming a regional hub in East Asia,” said Tim Johnston, Apollo Capital’s cofounder and managing director.

“With enormous upside potential and low correlation to traditional assets, there is a strong argument for a small allocation to crypto assets, and we think a fund structure is the best way to obtain that exposure,” he added.

Apollo Capital has appointed Cici Lu to lead its expansion in Asia and manage the partnership with PPA.

“Lu will bring her Chinese background and western experience as an advisor to Apollo Capital,” said the firm.

She has 10 years global markets trading experience across London, Singapore, Sydney, and Toronto, and has been following crypto markets since 2018.

Apollo Capital’s two funds with around A$150m ($110m) AUM will be part of PPA’s product offerings.

Founded in 2017, Apollo Capital launched its flagship multi-strategy fund a year later, and in late 2020, it launched a second product, the Opportunities Fund, a market neutral fund seeking to capitalise on the inefficiencies within crypto markets while removing the volatility associated with crypto asset prices, the firm said.

Pilgrim Partners Asia (PPA) is a capital markets services (CMS) licenced firm with the Monetary Authority of Singapore (MAS). Established in 2009, PPA has 10 different fund strategies. PPA also operates as a multi-family office where the founder’s and partner’s family wealth is managed alongside with other families.

“We see this [partnership] as instrumental in our push to develop new solutions for family offices as well as fund-of-funds in the private wealth and corporate treasury space,” said Albert Ee, CEO of Pilgrim Partners Asia

Part of the Mark Allen Group.