IG11 · 2026/Q2 · V.1.0 EVERGREEN FUND · OPEN FOR SUBSCRIPTION

FUND UNDER WARWYCK PHOENIX VCC

Delta-neutral
stablecoin yield,
institutional grade.

IG11 Capital is a Mauritius-regulated hedge fund generating consistent USD yield through a diversified portfolio of stablecoin strategies — with zero directional exposure to crypto markets.

Live · APY Delivered SINCE INCEPTION 2025

28.00%

vs. 20% target · vs. 7.93% DeFi benchmark
12 months · 0% monthly drawdown · Sharpe > 10

Strategy

Delta-Neutral

Base

USD

Min.

$1M

THESIS Investment Mandate

Natively designed to achieve a delta-neutral yield in USD, with an actively managed and diversified portfolio.

IG11 Capital is a Mauritius-based hedge fund dedicated to generating consistent, risk-adjusted USD yield through a diversified portfolio of stablecoin strategies — with zero exposure to directional crypto market risk.

Capital is deployed exclusively within the stablecoin universe — across money markets, fixed-rate protocols, decentralized exchanges and yield optimizers. Each allocation combines active protocol governance with proprietary deal flow negotiated directly on-chain. Positions are continuously monitored through real-time risk infrastructure, with capital secured under Fireblocks and Warwyck Private Bank custody.

The fund operates a USD share class built exclusively on fully regulated stablecoins, targeting 20%+ absolute returns. Liquidity terms are designed for institutional flexibility: monthly redemption windows with a 15-day notice period.

Over its first twelve months of operations, IG11 Capital returned 28% APY — outperforming its 20% target through a combination of diversified on-chain yield strategies and exclusive proprietary deals negotiated directly with protocols.

APY Delivered

28.00%

2025 FULL YEAR

Target

20%

WITH NO DRAWDOWN

Benchmark

7.93%

DEFI STABLECOIN INDEX

SHARPE RATIO · LTD

10.4×

ANNUALIZED WITH PRIVATE DEAL

MAX MONTHLY DRAWDOWN

0.00%

12 MONTHS ROLLING

Best Month

2.64%

SEPTEMBER 2025

PERFORMANCE Strategies Track Record

Twelve months, three strategies, one consistent curve.

Stablecoin yield across money markets, fixed-income protocols, governance incentives and proprietary deals.

CUMULATIVE RETURNS · JAN 2025 — DEC 2025 · NET

SOURCE: IG11 INTERNAL · YEARLY

DEFI BENCHMARK

Market Stablecoin Yield

Passive benchmark composite reflecting yield available on top-tier money markets (Aave, Compound, Morpho). Used as the floor against which IG11 measures its active alpha. 2025: 7.93%.

LIQUID STRATEGY

IG11 Yield

Active portfolio across 40+ protocols — layering fixed-rate protocols, governance incentives, and ecosystem point programs on top of the base money-market yield. 2025: 13.10%.

ALPHA ENGINE

IG11 + Proprietary Deal

The flagship vehicle: the liquid strategy augmented with proprietary deals negotiated directly with protocols — preferential rates, structured yield agreements, exclusive points. 2025: 28.00%.

VALUE Why IG11 Capital?

Delta-neutral access to institutional-grade DeFi yield.

01 · Strategy

Delta-Neutral Stablecoin Yield

Capital deployed across 40+ DeFi protocols with a proprietary delta-neutral approach — eliminating directional crypto exposure while capturing sustainable on-chain yield. Target 15 – 25% net APY with Sharpe above 10.

02 · Access

Institutional Access, Zero Complexity

No private keys, no smart-contract risk, no on-chain operational burden. Investors gain seamless exposure to DeFi yield through an FSC Mauritius regulated fund, with $1M minimum subscription and monthly liquidity.

03 · Alpha

Proprietary Alpha Engine

In-house quantitative engine continuously scans and optimizes yield across protocols — 28% APY delivered in 2025 vs. 7.93% DeFi benchmark. Audited by Nexia Bakers & Arenson. Monthly drawdown held at 0%.

TEAM

TradFi discipline. DeFi-native expertise.

Operators across fund management, institutional DeFi, quantitative research, and structured finance.

General Partners

Pierre Perchenet

Co-Founder & CEO

Founder & CEO of BB8 Capital and IG11 Capital — scaled BB8 from $20M to $139M AUM (Aug 2025) deploying institutional-grade capital across DeFi blue-chip strategies. Now launching IG11, a delta-neutral digital asset fund with continuous on-chain risk monitoring. Master's in Engineering from Centrale, MBA from Stanford.

David Domper

Co-Founder & CIO

Founder & CEO of Gami Capital — operates two distinct branches: a liquid strategies arm deploying capital across institutional DeFi protocols, and Gami Ventures, the firm's VC arm, with a growing portfolio across Web3 infrastructure, DeFi, and emerging blockchain ecosystems.

Team

Leo Leclercq

COO

Head of Liquid & Asset Manager at Stake Capital. Leads liquid strategies, portfolio management, yield generation across major DeFi protocols.

Noah Boisserie

Senior DeFi Analyst

Founder and CEO of Cooper Labs, service provider for Parallel protocol and other DeFi protocols.

Alin Popa

Senior Quantitative Analyst

Leading team of €30M European Cybersecurity quantum project RoNaQCI. Published research on equitable latent transactions on Ethereum.

Augustin Girault

DeFi Analyst

Institutional-grade financial rigor at Gami Labs. Five years at PwC Paris auditing Nasdaq & Fortune 500 companies.

Advisors & Partners

Charles PBC

Advisor

Founder Parable ($200M+ AUM venture studio & micro-PE fund), Chairman 021. Prev: Partner TMRW ($1B), co-founder & CEO @ Blockrise (acquired).

Cyril Pipaud

Advisor

CPO at Scrypt (Zürich), led product strategy & launched Swiss-regulated digital AM. Prev: BNP Paribas AM, $70B in APAC assets.

Hichem Bouchouareb

Advisor

Founder BlockWealth, co-founder of Goldbach Capital and Dey Capital. Prev: HSBC Asset Management and CMB.

Jean-Jacques Dandrieux

Advisor

M&A, venture capital, private equity & structured finance. $2.5B+ credit facilities (Crédit Agricole CIB), pre-IPO allocations (Uber, Pinterest).

TERMS Fund Information

Regulated. Secure. Liquid.

Name

IG11 Capital

NAV

Weekly

Regulator

FSC, Mauritius

Performance objective

20% APY targeting

Fund structure

Fund under Warwyck Phoenix VCC

Minimum commitment

$1,000,000

Investor type

Qualified and Institutional Investors

Accepted currencies

USD — USDC / USDT

Underlying assets

USDC

Fee structure

2% Management / 20% Performance (High Water Mark)

Reference currency

USD

Auditor

Nexia Bakers & Arenson

Fund strategy

Delta-Neutral

Custodian

Warwyck Private Bank Ltd

Investment style

Quantitative

Fund Administrator

Warwyck Phoenix VCC

Subscription / Redemption

Monthly / Monthly (15-day notice)

Strategy Advisor

Gami Capital SA

Delta-neutral
stablecoin yield,
institutional grade.

Natively designed to achieve a delta-neutral yield in USD, with an actively managed and diversified portfolio.