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SEC filing record
Primary Source · SEC.gov

Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC

Fund Vehicle2022 vintage506(b), 3(c)(1)

Raised

$51M

Investors

2

Min Invest

$1,000,000

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AltStreet Analysis

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Generated from EDGAR primary sources

Diversified Alpha SP-Institutional is a segregated portfolio of the Cayman Islands-domiciled Nickel Digital Asset Fund SPC, filed by Nickel Digital Asset Management Ltd. The Form D reports $50.8M raised from 2 investors at a $1.0M minimum investment, under combined 506(b) and Section 3(c)(1) exemptions, with no first sale date disclosed.

This is a privately placed, institutional-tier pooled investment vehicle typical of digital asset hedge fund structures, using the common private-fund pairing of Rule 506(b) with the 3(c)(1) investor-count exemption. A $1.0M minimum and two-investor base is consistent with an early or limited institutional close rather than a broadly distributed offering.

Data Flags

First Sale DateFirst sale date is not disclosed despite $50.8M already reported as sold on an original (non-amendment) filing under $100M, which falls outside the typical allowance for omitting this field.
Total InvestorsOnly 2 investors account for the full $50.8M raised (~$25.4M average check), indicating high capital concentration consistent with an anchor-investor or initial-close structure.
State of IncorporationEntity is domiciled in the Cayman Islands, indicating an offshore fund structure filing a U.S. Form D.
ExemptionFiling simultaneously claims Rule 506(b) and Section 3(c)(1) exemptions, a standard combination for privately offered pooled investment funds.
Related PersonsExecutive officer entry reads 'Same Nickel Digital Asset Management Ltd,' appearing to be a data-entry artifact rather than a distinct name.

Critical Disclosures

What the filings and the regulators have said about this entity that a reader should know first. Each line links to its source. The history, the same event across other issuers, and alerts are in the terminal.

Reporting lapsed · Form D · last filing January 21, 2022

Offering declared to continue beyond a year; annual amendment 13+ months overdue An issuer that stops filing is the case the going-concern flag cannot catch: the report that would have carried it was never filed.

Timeline
Each line is a fact as filed. The history behind it, the same event across other issuers, and an alert on the next one:Open in the terminal Watch this issuer

EDGAR Filing Data

Form D — Primary Source

View on SEC.gov
CIK Number0001901590
Entity NameDiversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC
ExemptionRule 506(b), Section 3(c), Section 3(c)(1)
What the exemption meansRule 506(b) of Regulation D: securities may be sold to an unlimited number of accredited investors and up to 35 non-accredited investors who meet the rule's sophistication standard, without general solicitation or advertising. Section 3(c) of the Investment Company Act of 1940: the issuer is a pooled investment vehicle relying on an exclusion from registration as an investment company. Section 3(c)(1) of the Investment Company Act: the fund is excluded from investment-company registration because it has no more than 100 beneficial owners.
Entity TypeOther
Jurisdiction of OrganizationCayman Islands
Issuer Address9 Forum Lane, Camana Bay, Grand Cayman, Cayman Islands KY1 1205
Phone44 7956 149 112
Industry / Fund TypePooled Investment Fund · Hedge Fund
Investment Company ActExcluded under Section 3(c)(1) (100 beneficial owners or fewer)
Securities TypeEquity, Pooled Investment Fund
First Sale Date—
Filing DateJanuary 21, 2022
Accession Number0001901590-22-000001
Total Offering AmountIndefinite
Total Amount Sold$50,750,000
Total Investors2
Non-Accredited InvestorsNone
Minimum Investment$1,000,000
Offering DurationIntended to last more than one year
Net Asset Value RangeDecline to Disclose
State (Issuer Address)E9
Amendment CountOriginal filing only

Filings on Record

Every filing AltStreet's ledger holds for this CIK, newest first. Each opens the SEC archive folder.

DJanuary 21, 2022

In the Terminal

Filing events

0

none on file

Critical / warning

0 / 0

0 watch · 0 info

Statements extracted

0

none on file

NAV prints

0

none on file

Offering chains

1

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Related Persons (Form D)

Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.

Michael Hall

Director, Promoter · London, X0

Ben Pershick

Director · Grand Cayman, E9

Charles Thomas

Director · Grand Cayman, E9

Same Nickel Digital Asset Management Ltd

Executive Officer · London, X0

Anatoly Crachilov

Promoter · Grand Cayman, E9

Alex Kloda

Promoter · Grand Cayman, E9

Henry Howell

Promoter · London, X0

Questions About Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC

Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.

What is Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC?

Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC is a Cayman Islands entity that filed a Form D with the SEC on January 21, 2022 as a hedge fund. The filing claims Rule 506(b), Section 3(c), Section 3(c)(1) for an offering of equity and pooled investment fund interests.

Is Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC legit?

AltStreet does not rate legitimacy; it reports the public record. Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC filed a Form D with the SEC on January 21, 2022 claiming Rule 506(b), Section 3(c), Section 3(c)(1). A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $50,750,000 sold to 2 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.

Is Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC registered with or approved by the SEC?

No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC claimed Rule 506(b), Section 3(c), Section 3(c)(1) and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.

How much has Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC raised?

Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC reported $50,750,000 sold from 2 investors in an offering of indefinite size as of the Form D filed January 21, 2022.

Who can invest in Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC?

The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. Because the fund also relies on Section 3(c)(1), it may have no more than 100 beneficial owners. The filing reports no non-accredited investors. The minimum investment accepted from an outside investor is $1,000,000.

What is the minimum investment in Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC?

The Form D lists $1,000,000 as the minimum investment accepted from any outside investor as of January 21, 2022. Issuers can waive their own minimums, and the figure does not include fees.

Who is selling Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC and how are they paid?

The Form D names no recipient of sales compensation, which usually means the issuer or its affiliates are placing the securities directly.

Who is behind Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC?

The Form D lists 7 related persons: Michael Hall, director, promoter (Director of Nickel Digital Asset Fund SPC); Ben Pershick, director (Director of Nickel Digital Asset Fund SPC); Charles Thomas, director (Director of Nickel Digital Asset Fund SPC); Same Nickel Digital Asset Management Ltd, executive officer (Investment Manager); Anatoly Crachilov, promoter; Alex Kloda, promoter; Henry Howell, promoter. Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.

Where is Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC located?

The issuer's address on its SEC filings is 9 Forum Lane, Camana Bay, Grand Cayman, Cayman Islands KY1 1205. Its phone number of record is 44 7956 149 112. It is organized under the laws of Cayman Islands.

How long is the Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC offering open?

The issuer indicated that the offering is intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open, and no amendment is on record yet.

How large is Diversified Alpha SP-Institutional, a Segregated Portfolio of Nickel Digital Asset Fund SPC?

The issuer declined to disclose its net asset value range on the Form D, which the form permits.

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Data Methodology

Capital raise figures, investor counts, and filing dates are sourced directly from SEC EDGAR Form D primary documents via the SEC EDGAR submissions API and full-text search index. EDGAR entity profiles and deal-level data are reviewed by AltStreet analysts with backgrounds in corporate finance and securities law — cross-referenced against offering circulars, audited financial statements, and primary regulatory filings before publication. Platform-provided information, where present, is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. Platforms may request factual corrections for demonstrable inaccuracies by contacting [email protected]. This page does not constitute investment advice.