On June 21, Open Exchange (OPNX), a platform for trading claims against bankrupt crypto entities, announced a new ecosystem partner dubbed “3AC Ventures.” According to developers, “the partnership will invest in projects building in the OPNX ecosystem and working towards a decentralized future.” OPNX was founded by Su Zhu and Kyle Davies, who co-founded the now-bankrupt Singaporean hedge fund Three Arrows Capital (3AC).

Citing the announcement, Davies commented, “3AC is dead, long live 3AC Ventures.” On the firm’s landing page, users are greeted with the text “3AC Ventures is focused on superior risk-adjusted returns without leverage,” along with an email contact.