Laser Digital Asset Management launches NEAR Adoption Fund for Institutional Investors
This communication is intended for institutional professional investors only.
London, 20th February 2025 Laser Digital, Nomura’s digital assets subsidiary, today announces the launch of the Laser Digital NEAR Adoption Fund (the ‘Fund’). The Fund’s strategy seeks to provide a long-term exposure to the NEAR token enhanced with staking which allows institutional investors residing in eligible jurisdictions (“Investors”) to participate in the blockchain consensus mechanism and take advantage of the economic opportunities of the NEAR blockchain. Consequently, the Fund aims to harvest gains from a long-term trend combined with carry component in the Digital Assets asset class. The Fund utilises TruFin’s institutional-grade liquid staking solution, TruStake, to provide Investors with seamless exposure to the NEAR token, as well as the network’s underlying staking rewards.
Why NEAR?
The entire internet will experience a paradigm shift towards AI-first interfaces and businesses, and we believe that NEAR has positioned itself to be at the forefront of this AI-first future as the blockchain for AI. This is enabled by NEAR’s core technologies bridging AI and web3 – bringing agents, users, and services together in one single protocol:
• User-Owned AI: Building towards AI that users can trust with their data & assets and ultimately AI that makes choices to benefit individual users rather than some centralized profit-maximizing entity
• Chain Abstraction: A technology that connects all assets, across all chains, between AI agents and users while empowering AI agents to transact, and thereby solves for the interoperability problem
• Intents: A new type of transaction that allows information, assets, goods and services exchange between AI agents, users, and real world services, making it possible to unify liquidity across crypto ecosystems and also bring AI participants together with financial services, commerce, and end users
Sharded Blockchain: NEAR Protocol as a sharded, proof-of-stake blockchain with fast transaction throughput and already tens of millions of active users, offering scalable infrastructure for AI agents and users to transact effectively at any scale
These features make NEAR a valuable Layer-1 digital asset for the next wave of AI-driven Web3.0 applications. From this perspective NEAR aims to benefit from two long-term major trends: blockchain and AI, and the Fund aims to provide Investors exposure to both.
The Fund will be available in traditional format, after registration, in selected jurisdictions (with the exclusion of the US) to eligible institutional and professional investors. The Fund will also be available through various wealth management platforms.
The Fund is a segregated portfolio part of Laser Digital Funds SPC, a Segregated Portfolio Company registered as a mutual fund pursuant to section 4(3) of the Mutual Funds Act with CIMA (Cayman Islands Regulatory Authority).
Laser Digital is led by CEO Jez Mohideen who has over 25 years of experience in systematic investment strategies and macro trading at both Brevan Howard and Nomura. On launching the fund, Mohideen commented: “The Fund gives Investors a seamless way to gain exposure to digital assets through a long orientated exposure to the NEAR protocol that combines two major investment themes of digital assets and AI, alongside a carry overlay via the staking.”
Laser Digital was launched by Nomura and was co-founded by Steven Ashley, who previously led Nomura’s wholesale division and Jez Mohideen, who was Nomura’s Chief Digital Officer and Co-Head of Global Markets EMEA. Headquartered in Switzerland, with offices in Abu Dhabi Global Market, Dubai, Japan and UK – Laser Digital specializes in asset management, trading, solutions and venture in digital assets.
David Norris, CFO at NEAR Foundation: “We are excited to launch the Laser Digital NEAR Adoption Fund to give institutional investors exposure to NEAR‘s rapidly growing AI ecosystem, enhanced with staking returns. We are convinced that Laser Digital with its strong expertise and distribution capabilities is the right partner to provide investors with seamless and compliant access to NEAR.”
About NEAR:
NEAR Protocol is a fully sharded blockchain with more than 46 million monthly active users. Performant, scalable, and secure, NEAR is the blockchain for AI, powering the user-owned internet.
About Trufin:
The TruFin Protocol builds institutional-grade Web3 primitives, such as liquid staking, that can be used as the foundational building blocks for digital asset strategies to reduce risk, generate rewards, securely on-chain. (www.trufin.io)
About Laser Digital Asset Management:
Laser Digital Asset Management fuses expertise in the digital asset ecosystem with macro rationale to achieve superior returns, combined with an institutional grade risk management framework. Laser aims to deliver best in class fund products to clients across a spectrum of active and passive strategies. The funds are designed to complement traditional investment solutions in the construction of a well-diversified portfolio.
DISCLAIMER
Important Information
Marketing communication: This document is a marketing communication addressed exclusively to professional and institutional investors residing in eligible jurisdictions. This document is not a contractually binding document or an information document required by any legislative provision, and is not sufficient to take an investment decision. Please refer to the prospectus of the fund and to the relevant supplements before making any final investment decisions.
No offering: Nothing in this document amounts to, or should be construed as, an offer, placement, invitation or general solicitation to invest in any fund or to buy or sell securities, digital assets, or to engage in any other related or unrelated transactions. This document was not prepared in compliance with applicable provisions of law designed to promote the independence of financial analysis and is not subject to a prohibition on trading following the distribution of financial research. This document does not purport to contain all of the information that may be required to evaluate any potential transaction and should not be relied on in connection with any such potential transaction. Any future offers to invest in the fund/other products will be subject to the terms of the fund’s constitutional documents and/or relevant offering documentation.
Non-reliance: The document is not a recommendation and should not be relied upon as accounting, legal, tax or investment advice. You should consult your tax, legal, accounting or other advisers separately. Neither this document nor the information contained in it is for publication or distribution, directly or indirectly, in or into any jurisdiction where to do so might constitute a violation of applicable law. None of Nomura, Laser Digital, their group companies or any of their respective directors, officers, employees, partners, shareholders, advisers, agents or affiliates (together the “Sponsor Parties”) make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this document, and nothing contained in it shall be relied upon as a promise or representation whether as to past or future performance. To the maximum extent permitted by law, none of the Sponsor Parties shall be liable (including in negligence) for direct, indirect or consequential losses, damages, costs or expenses arising out of or in connection with the use of or reliance on this document. The information contained in this document is unaudited. It is published for the assistance of recipients, but is not to be relied upon as authoritative and is not to be substituted for the exercise of one’s own judgment. A mutual fund licence issued or a fund registered by the Cayman Islands Monetary Authority does not constitute an obligation of the authority to any investor as to the performance or creditworthiness of the fund. Furthermore, in issuing such a licence or in registering a fund, the authority shall not be liable for any losses or default of the fund or for the correctness of any opinions or statements expressed in any prospectus or offering document.
Forward Looking Statements: Certain information contained herein constitutes forward-looking statements, which can be identified by the use of terms such as “may”, “will”, “should”, “expect”, “anticipate”, “project”, “estimate”, “intend”, “continue” or “believe” (or the negatives thereof ) or other variations thereof. Due to various risks and uncertainties, including those discussed above, actual events or results, the ultimate business or activities of Laser Digital or the actual performance of any product referred to herein may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements in making their investment decisions. The key facts and service providers referenced here are subject to change. Some statements reflect Laser Digital’s views, estimates, opinions, or predictions based on proprietary models and assumptions, particularly concerning the digital asset market. There is no guarantee that these views, estimates, opinions, or predictions are accurate or will be realized. If these assumptions or models are incorrect or circumstances change, the assets actual performance may differ significantly and be lower than the estimated performance.
Digital assets: Digital assets regulation is still developing across all jurisdictions and governments may in the future restrict the use and exchange of any or all digital assets. Digital assets are generally not backed nor supported by any government or central bank, are not insured by depositor nor investor guarantees schemes and do not have the same protections countries’ bank deposits may have and are more volatile than traditional currencies and/or other investments. Transacting in digital assets carries the risk of market manipulation and cybersecurity failures such as the risk of hacking, theft, programming bugs, and accidental loss. Differing forms of digital assets may carry different risks. In certain circumstances it may not be possible to liquidate a digital assets position in a timely manner at a reasonable price. The volatility and unpredictability of the price of digital assets may lead to significant and immediate losses. Digital assets transaction can be publicly visible on Distributed Ledger Technology and not always private. Transferring digital assets may not always be possible and in some cases it may be irreversible.
Risks: An investment in any of the products mentioned herein involves significant risks, including loss of an investor’s entire capital investment. Alternative investment strategies are intended only for investors who understand and accept the risks associated with investments in such products and these products are not suitable for all investors. Investments in digital assets are high-risk investments and you should not expect to be protected if something goes wrong. The volatility and unpredictability of the price of digital assets may lead to significant and immediate losses. You are invited to do all the necessary research and learn before investing in digital assets. In considering any performance data in this document, you should bear in mind that past or targeted performance is not indicative of future results, and there can be no assurance that any of the fund would achieve its investment objectives, comparable results or that target returns would be met. Past performance is not a guide to future performance, future returns are not guarantees and a loss of original capital may occur. The price and value of investments referred to in this document may fluctuate. Nothing herein is intended to imply that the Laser’s investment methodology may be considered “conservative”, “safe”, “risk free”, or “risk averse.” The capital and/or return are not guaranteed, nor are they protected.
Performance: Figures presented in this document may refer to the past or simulated past performance. Past and simulated past performance is not a reliable indicator nor a guide of future performance. Where the information contains an indication of future performance, such forecasts are not a reliable indicator of future performance. Expected, targeted and/or estimated future returns are not guaranteed and a loss of the entire original capital may occur. The price and value of investments referred to in this document may fluctuate. Current performance may be lower or higher than the performance data quoted. Where not relevant or representative, outliers may be excluded. Any future performance is subject to taxation which depends on the personal situation of each investor, and which may change in the future. The actual performance of the Fund may differ from the performance of the underlying asset and such difference may be material. Neither the actual past performance of the Fund nor the hypothetical performance of the Fund or the underlying asset is an indication or guarantee of similar performance of the Fund in the future; therefore, no representation is made that any such performance / returns will be achieved by the Fund. Any target or estimated return of the Fund or any product or service offered by Laser Digital is provided for illustrative purposes only, is unaudited and does not represent actual returns, but is instead provided to reflect Laser Digital preliminary view of potential and/or targeted investment returns.
Jurisdiction Specific Information
No governmental authority has opined on the merits of the offering of any securities by the Fund, or the adequacy of the information contained herein.
UAE (excluding ADGM and DIFC): In the UAE (excluding ADGM and DIFC), this document is issued by Laser Digital Middle East FZE (“LDME”). LDME is the investment manager of the Fund and is authorised and regulated by the Dubai Virtual Assets Regulatory Authority (“VARA”) with registered number VL/23/06/001. We are registered in Dubai, and only deal with or for Qualified Investors and Institutional Investors as defined by VARA. Our registered office is located at One Central, Office 3, Level 5, Unit 512345, Dubai, UAE. Additional information on LDME and the relevant regulatory disclosures may be found at https://www.laserdigital.com/laser-digital-middle-east. The information contained herein, does not constitute, and is not intended to constitute, a public offer of securities in the United Arab Emirates (“UAE”) and accordingly should not be construed as such. The shares are only being offered to a limited number of exempt investors in the UAE who (a) are willing and able to conduct an independent investigation of the risks involved in an investment in such shares, and (b) upon their specific request. The shares have not been approved by or licensed or registered with the UAE Central Bank, the Securities and Commodities Authority, or any other relevant licensing authorities or governmental agencies in the UAE. No transaction will be concluded in the UAE and any enquiries regarding the Shares should be made to Laser Digital UK Ltd at 1 Angel Lane, London, EC4R 3AB.
UAE (ADGM): In ADGM, this document is issued by Laser Digital (AD) Ltd (“LDAD”), with registered office at 1134, 11, Al Maqam Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates. LDAD is authorised by the Financial Services Regulatory Authority (FSRA), holding a financial services permission with number 240029. The scope of Regulated Activities and relevant restrictions are set out here: https://www.adgm.com/public-registers/fsra/fsf/laser-digital-ad-limited. In accordance with section 30(4)(a) of FSMR, the following limitations and stipulations apply to all Regulated Activities, unless specified otherwise: Laser Digital (AD) Limited is not permitted to deal with Retail Clients as defined under the Conduct of Business Rulebook (COBS). This document is intended for distribution only to Professional Investors and/or Market Counterparties. It must not be delivered to, relied on by or acted upon by, any other person. The FSRA does not accept any responsibility for the content of the information included in this document, including the accuracy or completeness of such information. The FSRA has also not assessed the suitability of the products or services to which this document relates to any particular investor or type of investor. If you do not understand the contents of this document or are unsure whether the products or services to which this document relates are suitable for your individual investment objectives and circumstances, you should consult an authorised financial adviser.
UK: This document is being issued in the United Kingdom by Laser Digital UK Ltd, I Angel Lane, London EC4R 3AB, United Kingdom, to and/or is directed only at persons who are professional investors for the purposes of the Alternative Investment Fund Managers Regulations 2013, as amended and is accordingly exempt from the financial promotion restriction in Section 21 of the Financial Services and Markets Act 2000 (“FSMA”) in accordance with section 29(3) of the FSMA (Financial Promotions) Order 2005. The opportunity to invest in the fund mentioned herein is only available to such persons in the United Kingdom and this document must not be relied or acted upon by any other persons in the United Kingdom. Laser Digital UK Ltd, FRN 1000108, is an appointed representative of Strata Global Ltd, which is authorised and regulated by the Financial Conduct Authority, FRN 563834. Strata Global Ltd is registered in England & Wales with company number 07707508 and whose registered office is at 7-11 Moorgate, London EC2R 6AF. This document presentation as well as any additional document may only be distributed and the interests in any of the funds may only be offered or placed in the United Kingdom to the extent that (1) the Fund is permitted to be marketed to professional investors in the United Kingdom in accordance with Alternative Investment Fund Managers Directive (Directive (2011/61/EU) (the “AIFMD”) (as it forms part of the domestic law of the United Kingdom); or (2) this document as well as any additional document may otherwise be lawfully distributed and the interests in the fund may otherwise be lawfully offered or placed in the United Kingdom (including at the initiative of the investor). All, or most, of the rules made under the FSMA for the protection of retail clients will not apply, and compensation under the United Kingdom Financial Services Compensation Scheme will not be available.
EEA: As at the date of this document, none of the funds rereferred to herein has been approved, notified or registered in accordance with the Alternative Investment Fund Managers Directive (Directive (2011/61/EU) (the “AIFMD”) for marketing to professional investors in any member state of the EEA (each a “Relevant State”). However, such approval may be sought or such notification or registration may be made in the future. Therefore, this document and any additional documentation may only be transmitted to an investor in a Relevant State at such investor’s own initiative.
Japan: None of the shares in any of the funds have been and will not be registered pursuant to Article 4, Paragraph 1 of the Financial Instruments and Exchange Law of Japan (Law no. 25 of 1948, as amended) and, accordingly, none of the shares nor any interest therein may be offered or sold, directly or indirectly, in Japan or to, or for the benefit, of any Japanese person or to others for re-offering or resale, directly or indirectly, in Japan or to any Japanese person except under circumstances which will result in compliance with all applicable laws, regulations and guidelines promulgated by the relevant Japanese governmental and regulatory authorities and in effect at the relevant time. For this purpose, a “Japanese person” means any person resident in Japan, including any corporation or other entity organised under the laws of Japan
Switzerland: This document constitutes advertising. The offer and marketing of fund shares in Switzerland will be exclusively made to, and directed at, qualified investors (the “Qualified Investors”), as defined in Article 10(3) and (3ter) of the Swiss Collective Investment Schemes Act (“CISA”) and its implementing ordinance, to the exclusion of qualified investors who have opted-out pursuant to Article 5(1) of the Swiss Financial Services Act and without any portfolio management or advisory relationship with a financial intermediary pursuant to Article 10(3ter) CISA (“Excluded Qualified Investors”). Accordingly, the Fund has not been and will not be registered with the Swiss Financial Market Supervisory Authority and no representative or paying agent has been or will be appointed in Switzerland. This document and/or any other offering or marketing materials relating to the Shares may be made available in Switzerland solely to Qualified Investors, to the exclusion of Excluded Qualified Investors. The legal documents of the fund may be obtained free of charge from the Investment Manager, LDME, whose details are provided above.
Cayman Islands: LDME is not regulated in the Cayman Islands and is not licensed or otherwise authorised to carry on business, including securities investment business, in or from the Cayman Islands. No offer or invitation may be made to the public in the Cayman Islands to subscribe for the shares. Investment in the Fund carries substantial risk. There can be no assurance that the Fund’s investment objective will be achieved and investment results may vary substantially over time. The value of any investments in the Fund may go down as well as up and investors may not get back the amount invested. An investment in the Fund is only suitable for sophisticated persons or high net worth persons only who are able to bear the loss of a substantial portion or even all of their investment in the Fund. An investment in the Fund is not intended to be a complete investment program for any investor.
Restricted jurisdictions: The distribution of this document and the offering of shares in the fund may be restricted in certain jurisdictions. The information below is for general guidance only, and it is the responsibility of any person or persons in possession of this document and wishing to make an application for shares to inform themselves of and observe all applicable laws and regulations of any relevant jurisdiction. Such persons should also inform themselves of any applicable legal requirements, exchange control regulations and taxes in the countries of their respective citizenship, residence or domicile. This document does not constitute an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorised or to any person to whom it would be unlawful to make such an offer or solicitation. In particular, this document does not constitute an offer of securities to sell or a solicitation of an offer to purchase in or into the United States, Canada, Australia, or Japan.
United States: No shares in the Fund (“Shares”) will be issued in the US or to any US Person. Prospective investors must be non-US Persons and must meet other suitability requirements as the Directors may determine from time to time in its sole discretion.
The Shares have not been, nor will they be, registered or qualified under the 1933 Act or any applicable securities laws of any state or other political sub divisions of the United States of America. The Shares may not be offered, sold, transferred or delivered directly or indirectly in the US or to any US Person unless otherwise approved by the Board of Directors of Laser Digital Funds SPC (“Board”) in their sole discretion. Any sales or transfers of Shares in violation of the foregoing are prohibited and will be treated by the Fund as void. All applicants and transferees of Shares must complete an application form which confirms, among other things, that a purchase or a transfer of Shares would not result in a sale or transfer to a person or an entity which is a US Person unless otherwise approved by the Directors. Neither the Fund nor the LDME as investment manager are an investment adviser registered with the SEC, and they will not be acting in such capacity with respect to the Shares. Therefore, the latter provision of services to the Shares will not be governed by the Investment Advisers Act of 1940.
Restrictions on investors: The Fund referred herein is not available for subscriptions from retail investors in any jurisdictions. No key information document has been prepared in respect of any sub-class of shares in accordance with Regulation (EU) No 1286/2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) (and, in the case of the United Kingdom, such regulation as it forms part of the domestic law of the United Kingdom). Accordingly, shares in the fund are not available to, and no person may advise on, offer or sell shares for or to, any retail client (as defined in MiFID 2) in any jurisdiction, including, but not limited to, any EEA Member State, the UAE or the United Kingdom
