EVERGREEN FUND · OPEN FOR SUBSCRIPTION

FUND UNDER WARWYCK PHOENIX VCC

Delta-neutral yield, institutional grade.

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.

Live · APY Delivered SINCE INCEPTION 2025

25.98%

Annualised · vs. 20% target · vs. 4.39% DeFi benchmark
21 months · 0% monthly drawdown · Sharpe 3.23

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.

The strategy is built on a single principle: isolate yield from market direction. By hedging every position, IG11 captures the structural returns of the stablecoin economy without taking a view on where digital-asset prices go next.

Stablecoins have quietly become one of the largest, most liquid corners of digital finance — yet most allocators have no clean way to access the yield they generate. IG11 was built to close that gap, turning on-chain stablecoin flows into an institutional USD return stream.

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 twenty-one months of operations, IG11 Capital returned 25.98% APY (annualised, gross) — outperforming its 20% target through a combination of diversified on-chain yield strategies and exclusive proprietary deals negotiated directly with protocols.

APY Delivered

25.98%

SINCE INCEPTION · ANNUALISED

Target

20%

WITH NO DRAWDOWN

Benchmark

4.39%

AAVE USDC/USDT · SUSDS · SUSDE

SHARPE RATIO

3.23×

(23.35 − 4) ÷ 6.00

MAX MONTHLY DRAWDOWN

0.00%

21 MONTHS · NONE

Best Month

3.88%

AUG 2025

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 20% APY.

02 · Access

Institutional Access, Zero Complexity

No private keys, 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 — 27.94% APY delivered in 2025 vs. 5.03% 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

Investment

Constructs and selects yield strategies from protocol research to live deployment. Leads smart contract due diligence and designs the portfolio allocation framework. Owns position sizing and rebalancing decisions.

Quant

Engineers yield prediction models and applies statistical analysis to on-chain liquidity flows and protocol dynamics. Translates DeFi market signals into structured inputs for strategy construction and risk calibration.

Risk

Enforces position-level and portfolio-wide limits across leverage, protocol concentration and liquidity exposure. Runs stress scenarios and manages circuit breakers — from early alerts to ordered exits at pre-defined thresholds.

Deal Flow

Sources and structures proprietary yield agreements with protocol teams — preferential rates, exclusive vaults and tailored incentive programs. Manages the private deal pipeline and long-term protocol relationships.

Operations

Manages fund administration, regulatory compliance and investor relations. Coordinates weekly NAV production, annual audit cycles and FSC Mauritius obligations. Handles legal documentation and subscription processes.

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 yield, institutional grade.

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

Delta-neutral access to institutional-grade DeFi yield.

Delta-Neutral Stablecoin Yield

Institutional Access, Zero Complexity

Proprietary Alpha Engine

TradFi discipline. DeFi-native expertise.

General Partners

Pierre Perchenet

David Domper

Team

Investment

Quant

Risk

Deal Flow

Operations

Advisors & Partners

Charles PBC

Cyril Pipaud

Hichem Bouchouareb

Jean-Jacques Dandrieux

Regulated. Secure. Liquid.

A USD share class built on fully regulated stablecoins.