Belem Capital
- Company typePrivate
- Founded2020
- HeadquartersLuxembourg, Luxembourg
- Headcount1–10
- GTM typeB2B
- OfferingServices
Belem Capital firmographics
Firmographics- Name
- Belem Capital
- Legal name
- Belem Capital Special Limited Partnership
- Website
- https://belemcapital.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Belem Capital industry classification
Industry- Product category
- Institutional Digital Asset Management
- NAICS
- Other Financial Vehicles (52599), Other Financial Vehicles (525990), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Financial Investment Activities (5239)
- SIC
- Investment Advice (6282), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)
- akta.pro primary industry
- Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending) (FSAGAMAG)
- akta.pro secondary industries
- Decentralized Lending & Borrowing Protocols (FSADAMAA), Liquidity Provision & Market Making Protocols (AMMs, concentrated liquidity, LP tooling) (FSAPAEAF)
Keywords
Where Belem Capital is headquartered
LocationHeadquarters
- HQ city
- Luxembourg
- HQ country
- Luxembourg
- HQ region
- Europe
Offices1 record
Markets served
Belem Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Management Fees: Annual management fee of 2% charged on assets under management. Part of the 2/20 fee structure with High Water-Mark.
- Performance Fees: 20% performance fee on returns above the High Water-Mark, aligning manager and investor interests.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Institutional Fund Access |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels5 records
Belem Capital product offering
Product offeringCore offering
Belem Capital operates a Luxembourg-registered Alternative Investment Fund (AIF) that provides institutional investors with market-neutral DeFi strategies generating yield from liquidity provision, lending/borrowing, and arbitrage on blockchain infrastructure. The fund is offered through multiple currency-denominated share classes (USDC, EUR, ETH, BTC) and Segregated Managed Accounts (SMAs), targeting 9-20% average APY with monthly liquidity and no lock-up.
Product overview
Belem Capital operates as a Luxembourg-based digital asset investment platform offering a unified Luxembourg AIF (Alternative Investment Fund) with multiple share class products. The core fund vehicle provides institutional-grade access to market-neutral DeFi strategies through: USDC Share Class (33% yield 2024), EUR Share Class (5-7% target, launched June 2026), ETH Share Class (13% yield 2024), and BTC Share Class (9% yield 2024). All strategies employ delta-neutral approaches generating yield through liquidity provisioning, lending/borrowing, and arbitrage on blockchain infrastructure. Access is available via registered fund structures across multiple jurisdictions and Segregated Managed Accounts (SMAs). The fund is registered with CSSF, audited by Auren Luxembourg, with assets custodied via Fordefi institutional MPC wallet and administered by Caibuo Capital and NAV Fund Services.
Differentiator
Problem solved
Functional benefit
Products and services
- Belem Capital Fund (Luxembourg AIF) Luxembourg AIF structured digital asset investment fund offering market-neutral DeFi strategies with monthly liquidity. Supports multiple share classes (USDC, EUR, ETH, BTC) targeting 9-20% average APY. Registered with CSSF (B294863). For institutional and professional investors with minimum commitment of €250,000.
- Segregated Managed Accounts (SMAs) Custom segregated account structures for institutional investors to access DeFi strategies with personalized onboarding and liquidity options. For professional investors seeking tailored exposure to market-neutral digital asset strategies.
- USDC Share Class Stablecoin-denominated share class built on USDC (Circle), targeting absolute returns in USD terms. Achieved 33% annual yield in 2024 (net of fees). MiCA-compliant.
- EUR Share Class Euro-denominated share class deploying into MiCA-compliant euro stablecoin markets, generating native EUR yield. Targets 5-7% net annual yield under normalized market conditions. Removes EUR/USD conversion layer for euro-based investors.
- ETH Share Class Ethereum-denominated share class for investors holding or allocating to Ethereum. Aims to grow ETH-denominated exposure. Achieved 13% annual yield in 2024 (net of fees).
- BTC Share Class Bitcoin-denominated share class for BTC holders or FIAT allocators seeking BTC exposure and yield. Achieved 9% annual yield in 2024 (net of fees).
Quantifiable outcome
- 13% ETH Annual Yield 2024 (Net of fees)
- +4 more outcomes
Companies that use Belem Capital
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles4 records
Belem Capital technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Belem Capital partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core and supporting.
- TOBAMcoreStrategic partnership planned for US market expansion. TOBAM is a recognized pioneer in digital asset management. Combined with Belem Capital's European institutional presence, this expands geographic reach.
- Société Générale-ForgecoreMEV Capital (GP of the fund) partnered with Société Générale-Forge as on-chain asset manager and distribution partner for EUR CoinVertible (EURCV) and USD CoinVertible (USDCV) stablecoins. Includes supervising lending vaults on DeFi protocols like Morpho and acting as risk manager.
- Caibuo CapitalcoreLeading AIFM independent investment fund services provider in Luxembourg. Functions as the fund's Authorised Alternative Investment Fund Manager (AIFM), regulated by CSSF.
- NAV Fund ServicescoreIndependent NAV calculation services provider for the fund. Ensures transparent valuation and reporting for institutional investors.
- FordeficoreInstitutional MPC wallet provider serving as the fund's custodian. Provides multi-party computation infrastructure with cryptographic dual control for secure digital asset custody.
- Swissquote SAsupportingSwiss-based digital bank serving as depositary bank for the fund, providing additional regulatory oversight and asset protection.
- Auren LuxembourgsupportingIndependent auditor providing annual account audits for the Luxembourg AIF structure, ensuring transparency and regulatory compliance.
- W.i.s.e. Asset ManagementsupportingEstablished institutional partner alongside Syz Capital for European market presence and distribution.
- MorphosupportingDeFi protocol where Belem Capital/MEV Capital supervises lending vaults as part of the Société Générale-Forge partnership. Evaluated using Belem Capital's protocol scoring matrix.
Scale indicators8 records
Recent moves8 records
Expansion highlights6 records
Belem Capital competitors and assessment
Company assessmentBroad incumbents
- Fidelity Digital Assets: Incumbent institutional crypto custody and trading/asset management arm of Fidelity, targeting the same institutional market with broader balance sheet and brand recognition.
- CoinShares: European-listed digital asset investment manager offering yield, structured products, and ETP strategies to institutional and accredited investors — comparable European-anchored institutional focus.
- Galaxy Digital: Public, large-scale digital asset manager offering trading, asset management, and DeFi strategies to institutional clients — broader portfolio but directly competitive for institutional DeFi yield mandates.
- 21Shares: One of the world's largest crypto ETP issuers, providing institutional and retail investors regulated access to digital asset yield and exposures across multiple share-class structures.
Emerging players
- Sky (formerly MakerDAO): Decentralised stablecoin lending/yield protocol offering stablecoin yield that competes with Belem's stablecoin share class for the same institutional cash allocation dollar.
Direct peers
- MEV Capital: Belem Capital originally outsourced its institutional mandate to MEV Capital and just internalised the team in Feb 2026, making MEV the closest historical and operational peer in market-neutral DeFi yield strategies.
- Hashnote (acquired by Tassat): Institutional tokenised money-market / yield product using on-chain infrastructure with bank-grade custody — analogous DeFi yield-and-treasury wrapper targeting institutional cash.
- Maple Finance: On-chain institutional credit and yield platform with pools and vaults — directly comparable DeFi-native yield infrastructure serving sophisticated allocators.
- Jacobi Asset Management: Guernsey-registered institutional digital asset manager with regulated fund structures offering crypto yield strategies — similar regulated-wrapper model targeting institutional allocators.
Others
- Syz Capital: Alternative-investment arm of Syz Group — a current client and strategic channel partner of Belem operating parallel specialist hedge fund allocations in digital assets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Belem Capital social profiles
Digital presenceBelem Capital compliance and trust
Trust signalCompliance2 records
Belem Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Belem Capital leadership team
Management profileNumber of profiles
Profiles10 records
Belem Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Belem Capital M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Belem Capital
What does Belem Capital do?
Belem Capital operates a Luxembourg-registered Alternative Investment Fund (AIF) that provides institutional investors with market-neutral DeFi strategies generating yield from liquidity provision, lending/borrowing, and arbitrage on blockchain infrastructure. The fund is offered through multiple currency-denominated share classes (USDC, EUR, ETH, BTC) and Segregated Managed Accounts (SMAs), targeting 9-20% average APY with monthly liquidity and no lock-up.
Is Belem Capital a public or private company?
Belem Capital is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Belem Capital founded?
Belem Capital was founded in 2020. It employs 1 to 10 people.
Where is Belem Capital based?
Belem Capital is headquartered in Luxembourg, Luxembourg, in the Europe region.
How does Belem Capital make money?
Two revenue lines are on record. Management Fees are the primary driver. The others are performance Fees.
Who are Belem Capital's main competitors?
Broad incumbents on record are Fidelity Digital Assets, CoinShares, Galaxy Digital and 21Shares. Sky (formerly MakerDAO) is listed as an emerging player. Direct peers are MEV Capital, Hashnote (acquired by Tassat), Maple Finance and Jacobi Asset Management. Syz Capital is listed as an others.
Does Belem Capital have an API?
No public API is recorded for Belem Capital.
What industry is Belem Capital in?
Belem Capital's product category is Institutional Digital Asset Management. Its primary akta.pro industry code is FSAGAMAG, Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending), with a secondary code of FSADAMAA, Decentralized Lending & Borrowing Protocols. Its NAICS code is 52599 and its SIC code is 6282.