Entrepreneurship · Investing
Valeriy Khegay
Entrepreneur and investor.
Service providers & platforms
Across fund operations, custody and market access.
Innovative
investment fund
Founded in late 2022 and fully regulated in the Cayman Islands, Black Alpha Capital is an investment fund operating at the intersection of traditional and crypto markets. Our mission is to deliver exceptional returns, guided by these three pillars:
Merging Crypto with Traditional Markets
Leveraging the best of both worlds to create diversified portfolios
Executing Advanced Yield Strategies
Ensuring agility to responsiveness
and market dynamics
Investing in Early-Stage Web3 Projects
Backing high-conviction founders driving real-world adoption
Blending tradition and innovation to deliver stable, risk-adjusted returns
Our four strategies combine a Bitcoin core and selective digital assets, equities linked to AI and digital infrastructure, carefully assessed yield opportunities, and early-stage investments. Each has a defined role within a shared framework of macro research, disciplined position sizing and risk management.
Technology & AIBuilt on evidence.
Built on evidence.
Accountable to judgement.
Our research and risk architecture connects data, models and decision controls. AI supports the process; investment judgement and approval remain with the team.
A traceable starting point.
A timestamped data model brings together market, derivatives, ETF and on-chain inputs from Coinbase, Deribit, Farside, FRED and other sources. Revisions remain traceable.
AI supports research. It does not set probabilities or place orders.
Explore the frameworkFund Performance
Delivering Stability and Outperformance in Volatile Markets
Our approach combines macro and market trend analysis, disciplined research, and strategic risk management, enabling us to swiftly adapt to changing market conditions.
2027 thesisThree cycles.
Three cycles.
One direction.
Digital scarcity. The policy cycle. The AI buildout. Our constructive case for risk assets in 2027 — and the conditions it depends on.
Explore the 2027 thesis September 2026 investment view. Forward-looking expectations, not a promised outcome.The 2027 investment viewBitcoin cycle
Public marketsPolicy cycle
Structural demandAI investment
Who we are
Our Team
Experience across Web3, public and private markets, supported by dedicated risk management.
Private equity · Venture capital
Petr Hluze
PE & VC, startups. Experience at PwC and RSJ. Master’s degree in Finance & Economics.
Investments · Portfolio management
Jan Švach
Investment experience, including Bulios. BSc in Finance & Economics.
Risk management · Corporate finance
Dominik Tejnor
Investment fund experience and EverestSky. Master’s degree in Corporate Finance.
Plus a dedicated support team of analysts, advisors and industry experts.