Winklevii Settle For Seeding Hedge Fund While Waiting For Bitcoin ETF To Get Off The Ground

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Aalap Mahadevia has become the single biggest beneficiary of the Winklevii's largesse.

Cameron and Tyler Winklevoss, the 32-year-old brothers famous for their legal tangle with Mark Zuckerberg and Facebook Inc., are backing a new hedge fund run by fellow Harvard College graduate Aalap Mahadevia, according to people with direct knowledge of the plans.

The fund, called Briarwood Chase Management LLC, will be the first hedge-fund investment by the pair's family office, Winklevoss Capital. Briarwood Chase currently operates out of the Winklevoss Capital offices in Manhattan's Flatiron District….

Mr. Mahadevia has significant professional overlap with the twins. In addition to his Harvard connection, Mr. Mahadevia co-founded the investor social-networking website SumZero Inc., in 2008 with Divya Narenda, who joined the twins in the Facebook suit.

Last year, Winklevoss Capital invested $1 million into the website, which connects professional investors and sells access to their ideas.

Winklevoss Twins Backing New Hedge Fund [WSJ]
Earlier: Winklebits!

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