Wave Digital Assets Company Profile

Background

Wave Digital Assets (Wave) is a Los Angeles-based, SEC-registered investment advisory firm specializing in digital asset management. Founded in 2018, Wave offers a combination of venture capital, fund, and private wealth management services tailored to the digital asset ecosystem. The firm's mission is to advance sophisticated, risk-managed investment strategies while promoting the global adoption of emerging technologies. Wave has managed over $1 billion in assets under management (AUM) and is recognized for its commitment to compliance and stringent risk management practices.

Key Strategic Focus

Wave's strategic focus encompasses several core objectives:

• Treasury Management: Providing corporate treasury management services, including digital asset lending programs and derivative strategies designed to capture additional yield and fine-tune risk. Wave operates across multiple decentralized finance (DeFi) protocols for lending, borrowing, trading, yield farming, staking, and mining.

• Wealth Management: Offering comprehensive digital asset portfolio management solutions that combine custody, execution, and tailored investment strategies for corporate and individual investors.

• Protocol Inventory Management: Managing tokenized staking funds for protocols, providing programmable liquidity through fully compliant global exchanges.

Wave leverages its deep institutional expertise and cutting-edge ideas to help investors unlock the potential of digital assets, focusing on yield generation through private funds and managed accounts for high-net-worth individuals (HNWIs) and family offices.

Financials and Funding

Since its inception, Wave has managed approximately $1 billion in AUM. The firm has achieved this through strategic acquisitions and organic growth, expanding its services and client base. In 2022, Wave made its first acquisition in Europe and is in advanced talks for further mergers and acquisitions in the U.S. and Asia.

Pipeline Development

Wave offers a range of investment funds, including:

• Select 5 Crypto Index Fund (WS5): Provides exposure to one of the best-performing asset classes of the last five years.

• BTC Income & Growth Fund (WBIG): A professionally risk-managed Bitcoin fund designed to transform BTC volatility into stable yield.

• Wave Genesis: An actively managed liquid venture capital fund investing in crypto assets since 2018.

• cFund: An early-stage, sector-agnostic venture firm in the blockchain industry, anchored by IOHK and managed by Wave.

• NFT Fund: Invests in NFT collectibles, platforms, and protocols.

• Whiskey Fund: The world's first tokenized whiskey barrel fund, capturing value appreciation associated with the aging of Kentucky whiskey, designed to be recession-resistant.

Technological Platform and Innovation

Wave distinguishes itself through its proprietary technologies and innovative approaches:

• Proprietary Technologies: Wave utilizes institutional-grade custodian services, helping investors navigate the complex landscape of digital assets with a connected and secure suite of solutions.

• Scientific Methodologies: The firm applies deep experience in digital asset strategies to bespoke, risk-managed portfolios, operating across multiple DeFi protocols for lending, borrowing, trading, yield farming, staking, and mining.

Leadership Team

Wave's leadership comprises seasoned professionals with extensive experience in finance and digital assets:

• David Siemer: Co-Founder & Chief Executive Officer. David has been investing in crypto since 2012 and previously founded Siemer & Associates LLC, a technology-focused investment bank.

• Les Borsai: Co-Founder. Les is a serial technology entrepreneur and early investor in Ethereum, XRP, Tezos, and NFTs.

• Benjamin Tsai: Co-Founder & President. Benjamin oversees product development and trading, with over 15 years of senior leadership experience at Merrill Lynch Singapore Commodities and Alliance Bernstein.

• Jennifer Wilde Anderson: Co-Founder & Chief Operating Officer. Jennifer leads all aspects of Wave’s operations, including compliance, legal & regulatory, finance, and HR.

• Richard Shi: Chief Financial Officer. Richard has over 20 years of experience in the private equity industry and is a Certified Public Accountant.

• Nicole Trudeau: General Counsel. Nicole has over 15 years of experience in financial services and securities regulation, with expertise in FinTech, cryptocurrency, and blockchain technology.

• Kelly Chapman: Chief Compliance Officer & Head of Legal. Kelly has over 12 years of experience in the asset management industry, focusing on asset management, fintech/blockchain, and securities regulation matters.

• James Robnett: Chief of Government Operations. James concluded a notable career in federal law enforcement as Deputy Chief of Criminal Investigation for the IRS before joining Wave.

Leadership Changes

In December 2024, Wave expanded its global footprint with the launch of Wave Digital Assets International Ltd.