After the first lockdown in 2020, cryptocurrency gained widespread attention in India. Many people learned about this digital currency through YouTube and started using various apps for trading. The crypto ecosystem was thriving during this time. In the midst of this, Rahul Rai, who is known as a czar of the crypto world, decided to establish his own company, Gamma Point Capital. So, who is Rahul Rai?
Rai is presently the co-head of Market Neutral at BlockTower Capital, where he manages a crypto hedge fund worth $150 million. He gained admission to IIT Bombay in 2015 but chose to join The Wharton School in the United States instead. From 2015 to 2019, he pursued a BSc in economics there. After graduating in 2019, Rai began working as an analyst for Morgan Stanley in the US, where he spent over a year. However, he resigned in 2020 and returned to India to establish his own company.
He developed a keen interest in the concept of decentralized finance (DeFi) and started conducting more research with another crypto enthusiast. Eventually, in January 2021, he co-founded a crypto hedge fund, Gamma Point Capital, along with Eash Aggarwal and Sanat Rao.
Gamma Point Capital was a hedge fund that invested in digital assets and blockchain technology, becoming a reliable option for investors seeking high-quality risk-adjusted returns.
However, just 5 months later, in June 2021, BlockTower Capital acquired his company for $35 million. When he sold his company for millions, he became a millionaire. “It was a tough decision, but a sensible one because it would’ve taken us many years to reach where we already are today,” Rai told Forbes India. Currently, he is the co-head of Market Neutral at BlockTower Capital and manages the BlockTower Gamma Point Market Neutral Fund.