Active management
We trade around core positions to capture volatility, without giving up the long-term holdings that anchor the portfolio.
Caldrion Digital AssetsPart of Caldrion
A generational shift,held with discipline.
Long-term holdings, on-chain yield and systematic trading—run in-house, secured by institutional-grade custody and backed by permanent capital that can hold through every cycle.
Part of Caldrion Permanent capital, active ownership Scroll
01Our approach
Signal, not noise.
We believe the financial system is moving from centralized intermediaries to decentralized protocols. We treat digital assets not as a speculative gamble but as a distinct asset class with a defined role in Caldrion’s portfolio—owned with the patience of a family and underwritten with the rigor we bring to real estate, credit and private companies.
02Principles
How we manage it.
We focus on protocols with genuine network effects, robust developer activity and sound token economics, and we hold them the way an owner holds an operating business: deliberately, securely and for the long term.
Yield generation
Staking, lending and liquidity provision put idle assets to work, earning cash flow while limiting directional price risk.
Security first
Multi-signature and MPC wallets, air-gapped cold storage, institutional custodians and rigorous internal controls to minimize counterparty risk.
03Focus areas
Five strategies, one discipline.
Long-term holdings, market-neutral yield, systematic trading, early-stage protocol rounds and liquidity partnerships—each with its own role in the portfolio and its own limits.
- 01
Store of value & Layer 1 protocols
The foundational layers of the digital asset economy, accumulated patiently and held for the long term.
- 02
Decentralized finance & yield
Liquidity provision, lending and staking that earn fees and yield while limiting directional price risk.
- 03
Systematic & quantitative trading
Proprietary algorithms built for the inefficiencies and fragmentation of always-open digital asset markets.
- 04
Early-stage protocol rounds
Early-stage investments in infrastructure, DeFi and scaling protocols, made through SAFTs and token warrants.
- 05
Liquidity, OTC & governance
Liquidity for new protocols and structured products, OTC block trades and active participation in governance.
Criteria
Criteria at a glance
Liquid tokens and early-stage protocol rounds.
- Market cap
- $500M+ for liquid tokens$10M+ valuation for early-stage rounds
- Liquidity
- High daily volumeOn top-tier exchanges
- Sectors
- Infrastructure, DeFi, and scalingLayer 1 and Layer 2 networks; consumer and gaming applications
- Tokenomics
- Transparent, sustainable supply schedulesClear value accrual to token holders
- Governance
- Active developer communityAudited, open-source code
- Structure
- Spot, SAFTs, or token warrantsSAFT: simple agreement for future tokens
04Process
From whitepaper to decision.
A technical review of the code, the token economics and the team, then a direct conversation with the people who decide.
- 01
Submit
Send the opportunity through our form. Share a link to non-confidential materials (whitepaper, deck or data room); we sign NDAs promptly when there is mutual interest.
- 02
Technical review
Our digital assets team reads the whitepaper, the code and the tokenomics model, and looks at who the team is and how the protocol is governed.
- 03
Feedback
We aim to give initial feedback within 72 hours of receiving a complete package.
- 04
NDA and diligence
If there is mutual interest, we sign an NDA promptly, meet the team and go deeper: audits, contracts, vesting, treasury, legal structure and how the token reaches holders.
05People
The people who decide.
Every investment is decided by Caldrion’s small internal investment committee, which meets weekly. You deal directly with the people who decide.
Michael Harrington
Chief Executive Officer and Head of Family Office, Caldrion
Jennifer Williams
Chief Investment Officer, Caldrion
Sarah Mitchell
Chief Financial Officer, Caldrion
Thomas Bennett
Chief Operating Officer, Caldrion
06Insights
Notes on digital assets.
Investment perspectives, market notes and guides for protocol teams, advisors and co-investors.
Investment perspective
Who can make you sell? Permanent family capital in digital assets
The source of an investor’s capital shapes how it behaves in a volatile market. We explain how permanent family capital differs from capital with fixed fund lives, and what that means for protocol teams and counterparties.
Caldrion Digital Assets
Guide
Bringing Caldrion a digital asset opportunity: what to send and what to expect
A practical guide for protocol teams, foundations and advisors: our criteria, what makes a complete package, how we review a submission, what diligence involves and what happens after we invest.
Caldrion Digital Assets
Market note
Usage is not ownership: value accrual and supply in early-stage protocol rounds
A protocol can succeed while its token captures little of the value it creates. We explain how we assess value accrual, model supply schedules and think about vesting before joining an early-stage round.
Caldrion Digital Assets
Digital Assets
Building something durable?
Protocol teams, founders and advisors reach a decision-maker through one short form. We aim to give initial feedback within 72 hours of receiving a complete package.