FTX-Linked MNNC Group Raises Over $100M After Rebranding from LedgerPrime

MNNC Group, a fund with ties to Sam Bankman-Fried’s former crypto empire, has raised over $100 million, according to COO Ayesha Kiani. While SEC filings from Thursday indicate $53 million raised across two funds, Kiani clarified that this figure represents only one onshore entity, with total assets under management reportedly in the nine-figure range.

Previously operating as LedgerPrime, the fund managed $400 million at its peak before being acquired by FTX in 2021. After FTX’s collapse in November 2022, LedgerPrime rebranded to MNNC Group, shifting focus but retaining its position in the crypto space. The Cayman Islands-based firm, which has around 10 investors, has declined to disclose further details.

BitGalactic’s Take
MNNC Group’s rebound highlights a broader trend of resilience among FTX alumni and projects tied to the defunct exchange. Despite the FTX collapse casting a shadow over the