A. AP Capital Delaware LLC (the “Adviser”), a company incorporated under the laws of the United
States, was previously an Exempt Reporting Advisor (ERA) effective July 28, 2021 and is a newly
registered advisory firm located in New York, New York.
The Adviser is a wholly owned subsidiary of AP Capital Asset Management Limited (the “Parent
Company”). The Parent Company is wholly owned by AP Technology Holdings (Cayman)
Limited. Tai Ho Leung is the principal owner of AP Technology Holdings (Cayman) Limited.
B. The Adviser is an investment management firm that provides advisory services on a discretionary
basis to privately offered pooled investment vehicles (each, a “Fund” and collectively, the
“Funds”). The Funds are offered to certain qualified investors (each, an “Investor” and collectively,
the “Investors”).
The Funds include:
• AP Capital Absolute Return Fund, a Cayman Islands exempted limited liability company
(the “Absolute Return Fund”)
• AP Capital SPC (the “SPC”), an exempted limited liability company in the Cayman
Islands together with AP Capital Blockchain Fund SP (“Blockchain Fund”) and Stable
Fixed Income SP (“Fixed Income SP”), segregated portfolios of AP Capital SPC
(collectively “AP Capital SP Funds”)
AP Capital Management Limited (the “Investment Manager”) serves as the Investment Manager
to the Funds and the Managing Member to the Absolute Return Fund. The Investment Manager is
a related person of and under common control with the Adviser. While the Investment
Manager
retains management authority over the Funds’ business and affairs, the Adviser has been delegated
the role of Investment Adviser to the Funds.
The Funds’ investment objective is to achieve absolute return in equity and fixed income markets
and make investment in private shares and digital currency such as Bitcoin (BTC), Bitcoin Cash
(BCH), Ethereum (ETH), Electro-Optical System (EOS), and Litecoin (LTC) (referred to herein as
“Digital Assets”). The Funds’ aim to produce capital gains and sustainable growth with minimal
volatility. Further, the objective is to achieve for its shareholders long-term capital appreciation
primarily through investing in digital assets (either through the relevant trading platforms or over-
the-counter transactions), related derivatives, unlisted equities and fund of funds. Additional
information regarding the Adviser’s investment strategies is provided in Item 8 below.
C. The Adviser’s only Clients are the Funds. As such, the Adviser follows the investment strategy
described in each Client’s private placement memorandum and/or other offering documents,
investment advisory agreement, limited partnership agreement, limited liability company
agreement, or other governing documents (collectively, the “Governing Documents”).
D. The Adviser does not participate in wrap fee programs.
E. As of December 31, 2021, the Adviser manages approximately $162,548,908 in discretionary
regulatory assets under management and $0 in non-discretionary regulatory assets under
management.