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In August 2022, the Geco Capital group obtained the approval of the Estonian financial supervision Finantsinspektsioon to register and run alternative funds investing in cryptocurrencies and is just launching its first Fund.
The Geco Group, managed by Marcin Wituś, has been dealing with financial markets for over 15 years, and since 2017 also with the market of new technologies, including blockchain technology. Since 2018, this international group has been running the Geco.one trading platform. Now, its portfolio will also be joined by alternative Funds in which individual and corporate clients can invest. First, the Fund will raise funds locally from investors from the European Union.
The Thompson & Stein law firm prepared the entire process from the corporate, legal and consulting sides. Both Polish and Estonian employees of Thompson & Stein were responsible for the process, and all work was coordinated by Senior Partner - Artur Kuczmowski.
Artur Kuczmowski's comment:
"You hear Estonia - you think new technologies. It is also a natural direction for investors of Polish origin. Polish capital invests more and more in the Estonian market. Polish Funds are looking for investment opportunities in local startups from the technology or gaming industry. Now we can welcome Geco Capital into this group. It is worth emphasizing that the Polish PFSA consistently refuses to register and supervise any entities involved in investments in virtual assets. So we found an alternative jurisdiction that enables the development of the business idea of the founders. Estonians showed a different approach. Interestingly, the supervision process has been processing the application for over 11 months, carefully analyzing every aspect of the Fund's operations. To our knowledge, it is the only investment vehicle in Estonia that allows investments in cryptocurrencies with Polish capital.
Polish entrepreneurs, unlike public administration, have long understood what globalization and uniform access to the Community market are all about. They decide to relocate their business centres to countries that keep pace with technological advances. Thus, unfortunately, investments and new jobs are created outside Poland.
The undoubted advantage of operating from Estonia is also the reduction of bureaucracy in many procedures related to accepting new clients, conducting investment activities or the corporate governance of the Fund itself. It is an attractive jurisdiction for many alternative investment companies, not only in the cryptocurrency industry. "
Comment by Marcin Wituś:
For the Geco group, Estonia is a strategic location for its operations. In Estonia, a few years ago, we found a safe haven when obtaining a cryptocurrency trading license. Here we decided to move the operational centre of our group, which we will now expand much more thanks to the received permission to create and manage alternative Funds. Our Fund's strategy will be executed by actively managing the basket of the most liquid cryptocurrencies. The portfolio will only include digital assets with a long history and strong market position, often already in the baskets of many investment funds. However, the Fund will actively manage this basket; thus, managers will use the bull market to increase the portfolio's involvement in digital assets and wait for the bearish market times in FIAT currencies. The Fund is to enable enthusiasts of new technologies to enter the world of global digital assets in a safe and understandable manner.
At the very beginning, we focus on collecting funds from clients from the European Union, and in the longer term, we will invite selected investors from around the world to invest.
