Pythagoras Investments, a New York-based cryptocurrency hedge fund, is to close its flagship Absolute Return Fund to new capital starting early next year following a surge in performance which has attracted significant investor interest, according to a report by Financial News.

The report cites unnamed sources familiar with the matter, as revealing that the fund recently secured an additional $30m in commitments, bringing its total assets under management to $120m. This influx of capital has helped the fund cement its position as the firm’s largest offering.

Overall, Pythagoras Investments manages $160m in assets across its various strategies, making it a prominent player in the crypto-focused hedge fund space.

Pythagoras joins a list of hedge funds limiting inflows to preserve strategy execution and ensure robust returns for existing investors.