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Giấy phép số 4978/GP-TTĐT do Sở Thông tin và Truyền thông Hà Nội cấp ngày 14 tháng 10 năm 2019 / Giấy phép SĐ, BS GP ICP số 2107/GP-TTĐT do Sở TTTT Hà Nội cấp ngày 13/7/2022.
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Split Capital is winding down as founder Zaheer Ebtikar joins stablecoin settlement chain Plasma as chief strategy officer, saying the traditional crypto hedge-fund model is “broken” and no longer makes sense “for crypto, in perpetuity.”
Split Capital operated for nearly two years, from its inception in 2024 to its closure in 2025. Ebtikar said the fund was profitable in both years, with net returns “well over 100%” since launch. He added that “virtually every investor made money” and described Split Capital as a “top performing fund by every mark.”
Ebtikar said he began the wind-down in the fall of 2025 after the firm returned capital to outside investors. While he did not provide a precise figure, he told Fortune that the total amount returned was in the “eight-figure” range.
Ebtikar characterized the stablecoin sector and Plasma as a “new era” that can scale to meet “trillions of dollars in settlement” demand, including through integration with legacy financial systems.
In his new role as chief strategy officer, Ebtikar will manage senior partnerships, oversee investor relationships, and take part in the product development cycle. His remit also includes directing the go-to-market strategy for the upcoming launch of “Plasma One,” described as a chain designed for stablecoin distribution and settlement.
“This is the culmination of experience I've gained working in crypto, and I now will actively apply it at Plasma going forward as an early founding team member,” Ebtikar said.
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