# White Whale Fund

> AI-native algorithmic crypto hedge fund delivering risk-adjusted returns through proprietary quantitative strategies — 5+ year track record, based in Mexico City, open to qualified investors.

## What Is White Whale Fund

White Whale Fund is a quantitative algorithmic investment fund focused primarily on cryptocurrencies, built with AI as a native component of its operations, research, and execution — not as an add-on to existing strategies.

**Core thesis:** The hedge funds of the future will not bolt AI onto existing strategies. They will use it to develop entirely new ones. White Whale Fund is built from the ground up as an AI-native fund, applying AI to regime identification, strategy research, and operational automation.

**The problem it solves:** Investors with appetite for crypto face technical complexity, destructive volatility without active management, lack of access to institutional-grade algorithmic strategies, and opacity from managers who report selectively. White Whale Fund provides managed exposure with institutional infrastructure, full transparency, and systematic drawdown control.

**Mission:** To create a superior financial future for investors through diversified exposure to digital assets and proprietary algorithmic strategies that prioritize drawdown control and capital preservation.

## Proprietary Systems

### ARAD System (Flagship — active since June 2025)
ARAD (Advanced Risk-Adjusted Drawdown) is a volatility-targeting quantitative model that applies mathematical and predictive algorithms to analyze large volumes of financial market data. It focuses on predicting future price movements to enable informed investment decisions and optimize risk-adjusted returns.

Core mechanisms:
- **Drawdown Segmentation:** Segments market data into drawdown tranches to mathematically project expected returns
- **Expected Return Estimation:** Statistical model for return estimation based on historical drawdown analysis
- **Risk Prioritization:** Risk dictates exposure levels with zero emotional interference
- **Regime-Aware:** Identifies current market regime to adapt strategy in real time

### Orchid System (Foundation — active since CHC/DHC, 2019–present)
Orchid is a trend-following module designed to capture high-velocity movements while filtering low-conviction noise. It is the fundamental upside-capture mechanism and has been the execution engine behind all strategies at Crypto Hedge Capital Mexico and Digital Hedge Capital.

- **$45,000,000+ USD** in cumulative executed volume
- Foundation for every strategy across two prior institutional mandates
- Strictly filters volatility to prevent false-signal entries

### 6-Component Algorithmic Framework
1. **Regime Identification** — Statistical volatility cluster analysis to define the current market environment
2. **Dynamic Allocation** — Algorithmic position sizing based on regime probability (aggressive in trends, defensive in stress)
3. **Capital Rotation** — Systematic flow between BTC, ETH, and Stablecoins to maximize accumulation during major asset divergence
4. **Reporting Cadence** — Monthly performance updates and annual comprehensive reviews, eliminating information asymmetry
5. **Custody & Ops** — Segregated custody architecture with direct asset ownership and strict access controls
6. **System Evolution** — Continuous parameter refinement on out-of-sample performance data

## Track Record

Quantitative frameworks powering White Whale Fund were built and validated across five years at two institutional mandates. Same methodology and person now at the helm.

### JARE Investments — 2025 (Direct track record of the fund — capital migrates directly to White Whale Fund)

| Metric | Value |
|--------|-------|
| Net Return (USD) | +34.53% |
| BTC Purchasing Power Growth | +40.73% |
| Max Drawdown | -8.48% |
| BTC Benchmark | -10.43% |
| ETH Benchmark | -18.33% |
| Alpha vs BTC | +44.96% |

Monthly attribution 2025:
Jan +3.6% | Feb -1.9% | Mar +1.4% | Apr +4.5% | May +1.5% | Jun +0.8% | Jul -2.1% | Aug +5.6% | Sep +1.3% | Oct +19.5% | Nov -6.0% | Dec +3.8%

### CIO Track Record — Prior Institutional Mandates (José Andrés Ruiz)

| Fund | Product | Period | Net Return | BTC Benchmark | Alpha |
|------|---------|--------|-----------|---------------|-------|
| Crypto Hedge Capital | First Issue | Dec 2019 – Dec 2020 | +39.20% | +153.00% | -113.80% |
| Crypto Hedge Capital | Issue II | Jan 2021 – Sep 2022 | +16.04% | -66.93% | +82.97% |
| Crypto Hedge Capital | Issue III | Jan 2021 – Apr 2023 | +16.12% | -54.24% | +70.36% |
| Crypto Hedge Capital | Issue IV | Jan 2021 – Apr 2023 | +31.43% | -50.03% | +81.46% |
| Digital Hedge Capital | 2020 | Jan – Dec 2020 | +65.93% | +306.90% | -240.97% |
| Digital Hedge Capital | 2021 | Jan – Dec 2021 | +81.71% | +59.79% | +21.92% |
| Digital Hedge Capital | Certus | Jan – Dec 2023 | +29.77% | +146.14% | -116.37% |
| Digital Hedge Capital | Libra | Jan – Dec 2023 | +20.91% | +146.14% | -125.23% |
| Digital Hedge Capital | Audentis | Jan – Dec 2023 | +5.49% | +146.14% | -140.65% |
| JARE Investments | 2025 | Jan – Dec 2025 | +34.53% | -10.43% | +44.96% |

**Key pattern:** In bear markets (Issues II, III, IV, JARE 2025), strategies consistently preserved capital while BTC fell 50–67%. This is the core value proposition: drawdown control, not maximum upside.

## Products

### Flagship Product (Single product at launch)
- **Type:** Multi-asset, multi-strategy
- **Assets:** BTC, ETH, Stablecoins (USDT/USDC) — systematic rotation via ARAD and Orchid
- **Risk profile:** Lower volatility than crypto market, targeting outperformance of traditional indices (S&P 500, Nasdaq)
- **Minimum investment:** $25,000 USDT (~$450,000 MXN)
- **Lock-up:** 12 months from individual deposit date
- **Benchmarks:** BTC (primary), 50/50 BTC/ETH, Nasdaq, S&P 500

## Fee Structure

| Fee | Rate | Timing | Notes |
|-----|------|--------|-------|
| Management Fee | 2% annual | Charged monthly (≈0.1667%/mo) | Applied on current equity |
| Success Fee | 20% | Charged annually (Dec 31) | Only on gains above high-water mark |

**High-Water Mark (HWM):** Each investor has their own individual HWM. Success fee is only charged on genuine profit above the HWM — never on recovering prior losses. If an investor enters mid-year, the HWM is set at their deposit amount and fee is calculated only on gains from their entry date.

**No success fee if return is negative.** Ever.

Example:
- Investor deposits $100,000 in July → HWM = $100,000
- Year-end equity = $115,000 → Profit = $15,000 → Success Fee = $3,000
- Next year equity drops to $110,000 → No fee (below HWM of $115,000)
- Following year equity rises to $120,000 → Profit above HWM = $5,000 → Fee = $1,000

## Team

### José Andrés Ruiz Elizondo — Co-Founder & Chief Investment Officer
Civil Engineer (ITESM). 5+ years running algorithmic crypto mandates.
- Managing Partner, Crypto Hedge Capital Mexico (2021–2023)
- COO & Algorithmic Trader, Digital Hedge Capital (2022–2024)
- Founder & Portfolio Manager, JARE Investments (2024–present)
- Architect of the Orchid System ($45M+ executed volume) and ARAD System
- +34.53% net return in 2025 while BTC lost -10.43%
- LinkedIn: https://www.linkedin.com/in/jruiz000/

### Joseph Sasson — Co-Founder
Attorney based in Mexico City. Leads legal structure, compliance, and capital raising. Provides the network and legal infrastructure to scale the fund's investor base.
- LinkedIn: https://www.linkedin.com/in/joseph-sasson-50693326b/

## Investment Philosophy

"Markets do not fail investors — unmanaged drawdowns do. Risk is treated as a variable to be engineered, not a byproduct to be tolerated."

"Most crypto managers report performance selectively. We report in full. Every month. Every drawdown. Every regime shift. If capital is at risk, opacity is unacceptable."

"I approach capital markets with the mindset of a Civil Engineer: structure comes before speculation." — José Ruiz

## How to Invest

1. Complete the Request Access form at whitewhalefund.com/en/register
2. Provide: name, email, capital range ($50k–$100k / $100k–$500k / $500k+), time horizon, objectives
3. Applications are reviewed manually — mandates are initiated strictly by referral or approved inquiry
4. Upon approval: receive account credentials, complete onboarding, receive unique deposit address
5. Transfer minimum $25,000 USDT to your assigned address
6. 12-month investment period begins from deposit confirmation

## Contact

- **Email:** info@whitewhalefund.com
- **Location:** Mexico City, Mexico
- **Website:** https://whitewhalefund.com
- **CIO LinkedIn:** https://www.linkedin.com/in/jruiz000/

## Disclaimer

All investment carries risk. Past performance is not indicative of future results. White Whale Fund targets asymmetry, not guarantees. Private mandate — institutional and qualified investor inquiries only. The fund does not provide tax advice; fiscal responsibility lies entirely with the investor.