Foresight Capital is a new hedge fund management company which started in 2014, according its website.
The company aims to use blockchain technology to track asset allocation, diversification and risk.
In a press release on its website, the company said the new hedge manager will work with “high-net worth individuals and corporations”.
The new hedgeman is Nicolas Boulanger, the CEO of Foresight Wealth Management.
According to Bloomberg, Foresight invests in high net worth individuals such as Boulangers brother-in-law, Nicolas Boucher.
Boulanger’s wealth is estimated at over $8 billion, and he is the founder of hedge fund, First Capital.
It is not the first time that Foresight has managed to build a wealth of wealth among high net-worth individuals.
In January, it managed to fund a $2.6 billion fund to purchase the company that manufactures the “most secure and private crypto currency wallets”, called Purity, which is currently listed on the Hong Kong Stock Exchange.
This is not Foresight’s first foray into the cryptocurrency space.
In August 2017, the firm managed to purchase $9.6 million worth of the Bitcoin-based cryptocurrency Ether in order to finance its investment into a new company called Etherium.
This news comes on the heels of the recent announcement that Forecast will begin trading in Australia on February 28.
It is not yet known how much Forecast is expected to make from the trading, but it is likely that its investments in cryptocurrencies are only going to increase as more investors become aware of the value of cryptocurrencies.
The firm is expected have a turnover of $4.2 million this year, with its current valuation at $3.5 million.
Forecast was founded in 2016 by Nicolas Boushanger.