Simplifying Digital

Asset Management

March 2022
—
Ankit Verma
Founding Partner & Head, Mudrex Capital

Introducing
Built on top of the collective intelligence of
10,000’s of traders, Mudrex Cap is our
institutional focused offering
10
Systematic
Alpha Generation
Based on millions of back-
tested quantitative models,
rule-based filtering and
optimizations, and focus on
selection rather than timing
Counterparty Risk
Management
Integrated with industry’s best
partners like Binance, FTX,
Coinbase, Deribit etc. for
comprehensive security
Better Risk Adjusted
Returns
The primary focus of the fund
is to provide superior returns
with minimalized drawdowns
and volatility
Regulated and
Audited/1:1 Custody
Independent third party NAV
calculations, audits and all
trades based on 1:1 custody
against underlying tokens
© Mudrex Capital
 Mudrex Capital Fund Strategy 1: Actively Managed Quant Optimization
Actively managed quantitative strategy optimized to curtail drawdowns and volatility and bring superior risk adjusted returns

Mudrex Fund Strategy BTC

600

Annualized
Volatility Max DD Sharpe
Returns
500

Mudrex Fund
130% 39% -25% 3.5
400 Strategy

300

Bitcoin 137% 76% -53% 1.8

200

Ethereum 238% 101% -57% 2.3

100

0
S&P 500 16% 15% -12% 1.0

Start date: 01.09.2020 End date: 28.02.2022

11 © Mudrex Capital
 Mudrex Capital Fund Strategy 2: Market Neutral Yield Enhancement
Market neutral strategy by exploiting arbitrages and investing in no risk yield generating protocols

Cumulative Performance Opportunity

25%
• Futures markets on major cryptocurrencies generally
trade at an attractive premium to spot markets, making
20%
cash and carry strategies attractive as a means to exploit
the price differential between the two markets
15%
• The strategy is market neutral and therefore uncorrelated
with the underlying portfolio
10%
• The capital is 100% protected and we rely on arbitrage
opportunities to generate an average of 7%-25% per
5% annum exclusive of costs

• If not invested in the strategy, the notional is invested in

0% low risk yield enhancing De-Fi protocols and delta staking
with expected returns of 8%-25% per annum

Start Date: 01.09.2020; End Date: 28.02.2022

12 © Mudrex Capital
 Mudrex Capital Fund : Combined Performance
We combine the actively managed and market neutral strategies diligently to create a stable portfolio

Mudrex Capital Fund Mudrex Capital Fund vs. Bitcoin

350.0 Mudrex Capital Fund Bitcoin

60.0%

300.0 50.0% 47%

43%
40%
40.0%
37%
250.0
33%
30%
30.0% 28%

200.0
20.0% 19% 18% 18%
16%
14% 14% 14%
12%
10% 9% 10%
150.0 10.0%
6% 6%
3% 2%
1%
0.0%

100.0 -2%
-3% -3%
-4%
-6% -5%
-10.0% -8% -7% -7%
-10%

50.0 -17%
-20.0%
-19%

-30.0%
0.0

-35%
-40.0%

Start Date: 01.09.2020; End Date: 28.02.2022

13 © Mudrex Capital
 Most crypto funds are high risk and passively managed
Active Management

High Risk/Returns Low Risk/Returns

Agnostic Fund

Passive Management
14 © Mudrex Capital
 Fund Strategy : Rule Based Filtering + AI Optimization + Human Oversight

• Coins with a Current Market Capitalization > $1 Billion

Eligible • Average Rolling 30 Days Volume > $200 Million
Fund • Listed on eligible exchanges
Universe • Long enough trading history
• Technical maturity & security

Constituent • Introduce quantitative parameters such as Max Drawdown, Volatility etc. to select optimal strategies
Selection • Filter out a selection of strategies on the Eligible Fund Universe available on Mudrex
• Pick strategies with a minimum trade history of 60 days

• The weight allocated to each strategy is optimized on return, drawdown and volatility
Portfolio • The maximum weight for any constituent is 35% and the minimum weight is 2%
• The portfolio is constructed using the most optimal path for selection of number of strategies
Construction
• The portfolio is rebalanced weekly or when deemed necessary by the Investment Committee
• Constant monitoring of coin liquidity, price performance & investment thesis
• External index administrator guarantees full compliance with index rules
17%
• Ongoing risk monitoring of portfolio
33%

17%

17% 17%

Bitcoin Ethereum Cardano BNB Ripple

15 © Mudrex Capital
 Adding Mudrex Capital Fund to your Crypto Portfolio reduces risk by 50%

Introducing Mudrex Capital Fund to a Traditional Introducing Cryptocurrency to a Traditional Portfolio

Portfolio increases performance whilst reducing risk

Portfolio without Fund Portfolio with 2% Fund Portfolio with 5% Fund Portfolio with 10% Fund Portfolio without Crypto Portfolio with 2% Crypto Portfolio with 5% Crypto Portfolio with 10% Crypto

25% 25%

20% 20%

Expected Returns
15% 15%
Returns

10% 10%

5% 5%

0% 0%
8% 12% 16% 20% 6% 8% 10% 12% 14% 16% 18% 20% 22%
Volatility Volatility

Source: TradingView; Start Date: 01.09.2020 End Date: 28.02.2022 Source: TradingView; Start Date: 01.04.2015; End Date: 28.02.2022

16 © Mudrex Capital
 Terms, Regulations, Admin
• Minimum Investment: 100,000 USD/USDT/USDC
• Increments: 50,000 USD/USDT/USDC
• Investor Type: Accredited US and Non-US Investors
• Jurisdiction : US Master, British Virgin Islands and US feeder
• Subscriptions : Bi-Monthly
• Redemptions : Monthly
• Notice Period for Redemptions : 30 Days
• Fee structure :
Management Fee: 2.0% per annum (charged quarterly)
Hurdle Rate: 12.0% per annum (3% per quarter)
Performance Fee Tier 1 : 20.0% per annum with full catchup subject to performance being above the hurdle rate and below 50.0% for the year
Performance Fee Tier 2 : 25.0% per annum with full catchup subject to performance being above 50.0% for the year
• Exit Load :
6 Months and Less : 4.0%
6-12 Months : 2.0%
12 Months and beyond : No exit load
• Fund Administrator: Sudrania Fund Services
• Audit : United States and British Virgin Islands
• Payment to be made through approved banking channels and in compliance with applicable governing laws

17 © Mudrex Capital
 The Team
Ankit Verma
Founding Partner & Head, Mudrex
Capital
• NYU Masters in Finance
• 8+years of Portfolio Management
• Barclays Exotics Trading
• Portfolio manager at SEBA Bank AG
Shrey Pandey
Quant Research, Mudrex Capital
• IIT Delhi
• Co-Founder Apstract (Sold)
• DE Shaw Equities Risk
Backed by
18
Edul Patel Prince Arora
Co-founder & CEO, VP Engineering, Mudrex.com
Mudrex.com
• IIT Kanpur
• IIT Bombay • Deutsche Bank, FX Algo Trading
• Deutsche Bank, FX Risk • Co-Founder, Niffler (Sold)
• Co Founder, Niffler (Sold) • Tech Head, Tapzo
• Head of Product, Tapzo
Piyush Kumar
• All from Tier 1 Engg. Institutes
+30
Quant Research, Mudrex Capital
• 70% are ex-founders
• IIT Delhi • 50% come with extensive
• Co-Founder Apstract (Sold)
background in scaling Fintech
• MFT Trader Trexquant products
• HFT Trader Mathisys Advisors
Previously at
© Mudrex Capital
 Contact Us

1013 Centre Road, Suite 403-B,Wilmington,

Newcastle county, 19805-1270, Delaware, USA

(+91)9833998094 /(+91) 99955984116

contact@capital.mudrex.com

www.mudrex.capital
 Disclaimer

We hereby confirm that investment made into the Fund / Scheme / Instrument / Asset of Mudrex : Are not made on behalf of any third party;

The funds invested are derived from legitimate source and not linked or derived from any criminal origin, of whatsoever nature, and in

particular do not constitute the proceeds of money laundering or terrorist financing; Payment is made through approved banking channels

and complied with applicable governing laws and rules set by Mudrex; and Indemnify and keep indemnified Mudrex against all losses,

liabilities, claims (including third party claims), actions, suits, proceedings damages, including reasonable attorney fees, that Mudrex may

incur / suffer as a result of misrepresentation by me / us and breach of any obligations as contained herein as I / we take sole responsibility of

the transfer done on the platform.

22 © Mudrex Capital