Leading Australian crypto investment firm Apollo Capital has expanded into Singapore following strong demand from institutions and private investors in Asian markets.

The Melbourne-based firm yesterday announced a strategic relationship with Pilgrim Partners Asia, a fund manager licensed by the Monetary Authority of Singapore.

Apollo’s two funds will be part of PPA’s product offerings under the partnership, the company said.

Apollo’s flagship opportunities fund has been the best-performing fund out of the more than 9,000 in Morningstar’s database over the past one and three years, with fivefold returns since inception in early 2018.

The investment firm has appointed experienced global market trader Cici Liu to lead the partnership with Apollo. She’s been following crypto markets since 2018 and has a strong foundation in risk management in traditional finance, Apollo said.

“Pilgrim Partners Asia is delighted to work with Apollo on opportunities in new asset classes. We see this as instrumental in our push to develop new solutions for family offices as well as fund-of-funds in the private wealth and corporate treasury space,” said Albert Ee, chief executive of Pilgrim Partners Asia.

Apollo managing director and co-founder Tim Johnston said that Asia was an important market for the firm.

“We are excited about helping clients get exposure to crypto assets and illustrating how digital assets can play a small but important role in investors’ portfolios. With enormous upside potential and low correlation to traditional assets, there is a very strong argument for a small allocation to crypto assets, and we think a fund structure is the best way to obtain that exposure.

“We believe that the experience of the Apollo team sets us apart, and will be valued in Asia. For example, our CIO Henrik Andersson has been active in crypto markets for over eight years as well as having two decades of financial services experience.”