PEVCtech Tech Stack: MNNC Group

We’re proud to share the latest in PEVCtech’s periodic series on the tech and analytics stack of investment management firms. We’re fortunate to interview Ayesha Kiani, COO, MNNC Group, a quantitative and systematic hedge fund investing in the digital asset space. 

David Teten: Please give us an overview of your firm. 

MNNC Group is a quantitative and systematic hedge fund investing in the digital asset space. The team members were formerly part of LedgerPrime and will be deploying similar investment strategies at MNNC Group. 

David Teten: Who are your peers/competitors, and how do you differ?

We are a multi-strategy quantitative, all weather fund with an extremely successful and long track record previously as a team. We aim to perform well both in high and low volatility and in trending and non-trending environments. Our team has extensive experience in both traditional and digital assets markets. 

David Teten:  What’s your background? How and why are you in your role today?

I have been in the Digital Assets space for over 7 years. I was an early employee at Consensys for SingularDTV and joined Republic to build Republic Crypto in its early days after that. I think tenacity played a huge part in my career path as I have always loved taking risks and taking all the opportunities that have come my way. 

David Teten: I’m an investor in Republic via HOF Capital, so glad to hear that!  What are the tools you’re using for investment opportunity analysis? What are the strengths and weaknesses of these providers?

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When we assess a trade, e.g., hedging a given coin, we only rely on proprietary market data and check our own risk parameters.    

David Teten: What technologies/databases have you found helpful in winning LPs?  (I wrote about this in Why Isn’t Sales As Efficient As Online Dating and Fundraising hacks for VC and private equity funds.)

We do everything in house. Reason is that there are a couple of providers like Context365 (now part of Apex Group) and iConnections that provide CRMs for investors connectivity, but we have had more luck talking to investors and managing communication with them more organically.  For our CRM, we use Google Sheets and manage the flow organically. 

David Teten: What tools do you find helpful for expediting due diligence of vendors? 

When we assess a proposed vendor to our fund, among other issues we particularly focus on are the tech stack of the given company, their cybersecurity processes and their risk management process. 

David Teten: What are the tools you’re using for your middle office: tracking, risk management, etc.? What are the strengths and weaknesses of these providers?

We have built our systems internally. We’re using a combination of Python, Javascript and Machine Learning for tracking, with APIs. We’re storing the data in encrypted CSV files that are simultaneously shared with our fund administration on daily basis.

David Teten: What are the tools you’re using for your back office: settlements, records maintenance, accounting, human resources, etc.? What are the strengths and weaknesses of these providers?

We have built an internal system and rely on an OEM for records maintenance. We also work very closely with our fund admin, who basically replicates all of our data and records through their APIs connected to exchanges. 

For HR we use Justworks. Basic Accounting is in CSV files. NAV Consulting tracks all the operational data as well on their side. Settlements are instant because of the asset class and therefore, the reports are released on a daily basis. 

David Teten: A huge amount of valuable data flows through your pipes.  What are you doing to capture that data and mine it? Can you share any patterns you have identified?

It’s only trading data. It’s proprietary information, but we can see the patterns for top digital assets and their performance. 

David Teten: Do you see any room to use AI to exploit your dataset? If so, what are you doing to move that forward? 

Our industry is still a bit early for that but we use ML for our trading models on regular basis. 

David Teten: What are your unmet technology needs?  Places in your firm where you’re seeking a solution and haven’t found an appropriate one? These may indicate room for Versatile VC to build or invest in a startup addressing that need.

Most of our counterparty trading is done on Telegram. The industry still doesn’t have a centralized solution like Bloomberg terminal to simplify the processes. We are still in nascent stages with our data providers, but firms like us are still doing a lot of their data mining. 

David Teten: What processes are you focused on improving?

My own operational. Most of the vendors are still new in the space, and therefore, I am more focused on building processes internally first, than deploying on various software programs and then tracking their efficacy.

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