Crypto Fund Inception Capital Winds Down, Founder Missing

• Inception Capital investors voted to wind down the fund after founder David Gan went silent for over a month during a family crisis.
• David Gan returned but agreed to step back from his role, leaving Inception Capital’s future uncertain amid paused investments.
• Despite challenges, Inception Capital plans to propose deploying the remaining 25% of unallocated capital to investors in October.

Inception Capital, an $80 million crypto fund supported by prominent investors, has started the process of a controlled wind-down. The decision was made after its founder, David Gan, went silent following a trip to China to assist with a family matter. 

Gan, a former Huobi executive and a Forbes 30 under 30 Asia honoree, originally raised $50 million for his venture fund, OP Crypto, in 2021. His fund grew, reaching nearly $100 million in assets under management by early 2024. But, Gan’s unexplained disappearance put investors in a difficult position, forcing them to take steps.

Founder’s Absence Raises Concerns

Gan’s sudden disappearance caused alarm among the fund’s limited partners (LPs). In May, he informed his investors that he was heading to China due to an …

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