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News about Harneys

Harneys to speak at CoinAlts Fund Symposium

5 September 2017

Harneys partners Lewis Chong and Patrick Colegrave will moderate and speak at the CoinAlts Fund Symposium, which will be held on 14 September 2017 at the St. Regis Hotel in San Francisco.

The pair will cover a session entitled Legal Overview & Issues with Launching a Cryptocurrency Fund. Panelists also include Karl Cole-Frieman, Cole-Frieman & Mallon; Ivana Kovacevic Rouse, Akin Gump Strauss Hauer & Feld LLP; and Romy Seth, Tungsten Funds. The panelists will be reviewing the current legal landscape of cryptocurrency fund formation and discuss the current US and offshore launch process, trends in management and performance fees, common structural features (redemption provisions, gates, side pockets, etc), and other common legal and regulatory issues for fund launches.

Today over 800 cryptocurrencies are listed on CoinMarketCap.com. This young market is growing and evolving at an impressive rate that has attracted new players to the space.

At Harneys, we have seen an increased demand for crypto-funds, Oliver Bell, Partner at Harneys says: “Perhaps in a few years’ time, we won’t need to issue shares in a company to access capital. Perhaps all that will be required is an Initial Coin Offering and perhaps we won’t even need companies at all but groups of people connected by smart contracts. These are all huge ideas but things that the people we engage with on a daily basis are seriously contemplating.”

Lewis Chong says: “Our team has experience of establishing numerous crypto-funds and with this experience, comes an understanding of the nuances involved. As a team, we’ve learnt a lot along the way and now feel we have a strong grasp of the issues, as well as the pitfalls, in establishing funds in this space. Things are moving at a rapid pace, and I’m not going to tell you that it’s easy to keep up, but I can tell you that we’re all loving the chase.”

Our Investment Funds team advise on all aspects of the life of a BVI or Cayman fund including formation, restructuring and closure, both in distressed and planned scenarios. Our funds lawyers sit side-by-side with the funds team from our associated funds services business allowing us to provide integrated legal and administrative support to our funds clients.

For further information please reach out to our media contact.