Overview
A. Description of the Advisory Firm
Blockchange Management, LLC (“Blockchange” or the “Firm”) is a Delaware limited liability
company, formed in January 2018, with a principal place of business in Florida Ken Seiff is
the Firm’s Managing Partner and is the only owner with over 25% ownership of Blockchange.
B. Types of Advisory Services
Blockchange provides discretionary investment advisory and management services to
private investment funds (each, a “Fund” and collectively, the “Funds”) and special purpose
vehicles (each an “SPV” and together with the Funds, Blockchange’s “Clients”). The Funds are
organized as either Delaware or Cayman Islands limited partnerships, and affiliates of
Blockchange serve as the Funds’ general partners (“General Partners”). Certain of the Funds
are organized as Series Limited Partnerships (each series within such Limited Partnerships
is referred to as a “Series”). SPVs are typically Delaware Limited Liability Companies and
affiliates of Blockchange serve as their Managing Members. The Firm intends to sponsor or
manage additional Funds and SPVs in the future. Additional information about the Funds
and their investors (“Investors”) is discussed in Item 7, below.
Pursuant to each Client’s private placement memorandum, limited partnership agreement
and subscription documents, or the equivalent(s) for the SPVs (“Governing Documents”),
Blockchange invests in the securities of private companies and/or digital assets1 (individually
a “Portfolio Company” and collectively the “Portfolio Companies”) utilizing the strategies
described in Item 8 below.
C. Client Tailored Services and Client Imposed Restrictions
Advisory services are tailored to achieve the Clients’ investment objectives. In general,
Blockchange has the authority to select which and how many securities and other
instruments to buy or sell without consultation with the Clients or their Investors. Certain
investment-related decisions require approval of a Client’s Limited Partner Advisory
Committee, as discussed more fully in the applicable Governing Documents.
D. Wrap Fee Programs
Blockchange does not participate in wrap fee programs.
E. Amounts Under Management
As of December 31, 2023, Blockchange has approximately $1,092,286,989 of regulatory
assets under management all of which are advised on a discretionary basis.
1 Digital assets include the “bonding”, “baking” or “staking” of tokens and other digital assets.
Decentralized digital assets utilize cryptography, commonly referred to as “cryptocurrencies” (such as
Bitcoin, Ethereum, etc.), as well as related protocols, projects, options, derivative instruments and
companies (collectively, the “Digital Assets”).