Gold.
That compounds.

Through market-neutral strategies, the fund targets
absolute returns independent of gold price direction.

Cayman Islands Fund  ·  BVI Investment Manager  ·  Institutional Custody
Request Access Strategies
01 — Overview

From passive gold to
active performance.

In Japanese craft tradition, kintsugi is the art of repairing broken ceramics with gold — turning damage into beauty and making the repaired piece more valuable than the original.

Kintsugi Capital applies the same philosophy to gold itself. Using tokenized gold (XAUt) as on-chain collateral, the fund deploys into a suite of market-neutral strategies that generate compounding returns whether gold rises, falls, or stays flat.

Gold that earns while it waits.

02 — Why Kintsugi

The case for
active gold management.

01

Gold is the oldest store of value.

Millennia of trust, scarcity, and utility have made gold the bedrock of wealth preservation. XAUt brings this on-chain without compromising those properties.

02

Passive gold earns nothing.

Physical gold and conventional ETFs provide no yield. Capital concentrated in gold is capital that does not work. The fund changes that without changing what investors hold.

03

Market-neutral by design.

Strategies are structurally hedged. Returns do not depend on whether gold goes up or down — they emerge from arbitrage spreads, funding rates, and premium capture.

04

Institutional discipline.

Cayman fund structure, BVI investment manager, independent custody, and institutional-grade risk controls — built for allocators who require it, not retrofitted after the fact.

03 — Core Strategies

Three pillars of
return generation.

I

Hedged Staking

XAUt is deployed into liquid staking protocols to earn base yield, while equivalent short positions hedge out directional gold exposure. The result is a delta-neutral position earning staking rewards.

Risk Profile Market-Neutral
II

Basis & Rate Arbitrage

Systematic harvesting of the spread between spot and futures prices, and between lending rates across venues. Structural mispricings that persist regardless of broader market conditions.

Risk Profile Low Directionality
III

Options Overlay

A disciplined options program captures implied volatility premium on XAUt positions. Sized within strict risk parameters and structured to complement, not amplify, the core strategy.

Risk Profile Premium Capture
04 — Fund

Designed for
institutional capital.

Collateral Asset XAUt (Tether Gold)
Strategy Type Market-Neutral Absolute Return
Return Objective Independent of Gold Price Direction
Mandate Compounding Yield on Gold Holdings
Fund Domicile Cayman Islands Exempted Fund
Investment Manager BVI Registered Entity
Investor Eligibility Qualified / Professional Investors
Redemption Liquidity Available on Request
05 — Institutional Framework

Built for allocators
who require rigor.

Kintsugi Capital operates within a fully institutional legal and operational framework. The fund is domiciled in the Cayman Islands — the jurisdiction of choice for alternative funds globally — providing investors with a familiar and well-regulated structure.

The investment manager is incorporated in the British Virgin Islands, maintaining clear separation between fund assets and management operations. Independent administration, custodial arrangements, and audit processes are in place from inception.

Cayman Islands Exempted Fund Structure
BVI Investment Manager with Regulatory Standing
Independent Custody of Digital Assets
Institutional-Grade Risk & Compliance Controls
Qualified Investor Access Only
Annual Independent Audit
06 — Contact

Institutional inquiries
welcome.

Kintsugi Capital is open to qualified and professional investors. For fund documentation, onboarding information, or to arrange a conversation with the investment team, reach out directly.

General & Investor Relations alessandro@kintsugi.com Portfolio & Strategy koh@kintsugi.com
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