Psalion

Psalion is an institutional digital asset investment firm founded in 2021 that offers three interconnected services: venture capital (Psalion VC), on-chain yield generation (Psalion Yield), and lending (Psalion Lend). The firm targets private clients, family offices, financial institutions, and corporations seeking professional-grade exposure to blockchain assets, and serves a client base spanning North America, Asia, and Europe.

Yield Product

The core operating business — and the primary connection to Solana — is Psalion Yield. The strategy generates returns on BTC, ETH, Solana, and stablecoins through allocations to DeFi liquidity pools, structured as segregated managed accounts for each client. Unlike a commingled fund, the separately managed account model keeps each client's capital in individually controlled accounts, providing transparency and insulation from counterparty exposure to other investors.

The approach is described as fully market neutral: the firm does not take directional bets on asset prices but seeks to extract yield from spread and fee income in liquidity pools across multiple blockchains, including Solana. As of mid-2026, the firm manages approximately $200 million in this strategy and reports approximately $14 billion in cumulative allocations across more than 500,000 individual pool positions over five years. Management states the strategy has never produced a non-positive period result and has never incurred impermanent loss, though these claims are self-reported and not independently audited. In the current rate environment, the yield on Bitcoin holdings runs at approximately 3.5% annually.

Venture Capital

Psalion VC operates independently of the yield business and has closed three successive funds. Funds I and II built a portfolio of more than 40 companies and tokens, including early positions in Solana, Aave, Chainlink, Polkadot, Uniswap, Arkis, and Hinkal.

Fund III, closed in July 2026, is a $50 million vehicle — the firm's largest — structured as a Singapore-domiciled Variable Capital Company managed by Conduit Asset Management Pte. Ltd., which holds a Capital Markets Services licence from the Monetary Authority of Singapore. The fund is restricted to accredited and institutional investors under Singapore regulations.

Fund III's thesis focuses on companies that bring real-economy and traditional financial activity onto blockchain infrastructure, rather than purely native-crypto plays. Target sectors include infrastructure and middleware, trade finance, real-world assets (RWA), stablecoins, DeFi, and selected consumer applications. The fund's first deployment was a $4 million co-led round in Beezie, a commerce platform linking physical collectibles to blockchain-based digital twins.

Leadership and Track Record

Psalion was founded by Timothy Enneking, a 35-year finance and asset management veteran with capital markets experience across more than 30 countries. Enneking previously managed a Bitcoin fund that returned 5,556.39% in its first full calendar year — at the time the best-performing crypto fund on record — and a fund-of-funds that returned 356.68% in 2014. In 2021, his US Digital Asset Fund was ranked the number-one performing hedge fund globally by data provider Preqin, with Crypto Fund Research providing a parallel top-ranking for crypto funds in the same year.

The leadership team includes Investment Director Adam Kovacs in Singapore and a compliance function comprising Head of Regulatory Compliance Nada Abu-Qaoud, AML Reporting Officer Todd Enneking, and Deputy AMLRO Brenden Tacon. The broader team of 12 operates across offices in San Diego, Paris, Singapore, and Geneva.

Solana Fit

Psalion's connection to Solana operates on two levels. First, the Yield product actively allocates to Solana DeFi liquidity pools as part of the multi-chain, market-neutral strategy, channeling institutional capital through Solana's DeFi layer as a yield source. Second, prior Psalion VC funds held Solana as a portfolio position, reflecting early-stage conviction in the network. Fund III's focus on DeFi and real-world asset protocols positions the firm to back Solana-ecosystem builders going forward, though no Solana-specific Fund III investments had been publicly announced as of the time of writing.

Regulatory and Custody Framework

Fund III operates under MAS oversight via Conduit Asset Management's Capital Markets Services licence, providing a regulated on-ramp for institutional and accredited investors. The yield product's segregated managed account structure is designed to give clients direct custody over their assets rather than pooling into a commingled fund — an important distinction for institutional compliance requirements. No third-party security audits of the yield strategy or its smart contract interactions have been publicly disclosed.