Lantern Ventures to Return Capital and Halt New Crypto Investments
London-based Lantern Ventures, launched by ex-Alameda Research members, is closing funds and returning capital after seven years, marking a major retreat from large-scale crypto asset management.
Lantern Ventures, a London crypto trading firm founded by former Alameda Research members, is winding down after seven years in operation. The firm will return investor capital, close its external funds, and is expected to lay off staff. At its peak, Lantern managed over $600 million. Founded by Tara Mac Aulay, it had previously committed half of founder profits to charitable causes. The firm’s affiliate, Pharos USD Fund SP, was the largest single creditor in Celsius’ 2022 bankruptcy with an $80 million claim. Difficulties in institutional fundraising amid prolonged market downturns contributed to the closure decision.
- Crypto Hedge Fund: An investment fund that manages portfolios of cryptocurrencies and related assets, aiming for high returns through diverse strategies.
- Family Office: A private wealth management firm serving one high-net-worth family, focusing on investments, estate planning, and other financial services.
- Alameda Research: A cryptocurrency trading firm co-founded by Sam Bankman-Fried, known for quantitative trading and market-making activities.