About
Kestrel Alpha Capital was founded in New York in 2021 by quantitative researchers and trading-systems engineers who had spent the previous decade building systematic strategies in traditional markets, and who saw in digital assets a market where the microstructure was still being written.
We trade our own capital only. That lets us take a long view on research, keep every strategy inside one risk framework, and avoid the pressures that come with managing other people's money. It also means we have no products to sell: nothing on this site is an offer of any kind.
Every strategy begins as a research question. Signals are developed on the research cluster, validated out of sample by an independent model-validation group, and promoted to production only after a review by the risk committee. In production, positions are monitored against firm-wide limits around the clock from three time zones.
Milestones
Principles
Decisions, models and incidents are documented. A result that cannot be reproduced from the notes did not happen.
Treasury and custody are separated from trading. No individual can move assets alone; withdrawals need multiple approvers.
Every signal is a hypothesis. Validation exists to break it before the market does; monitoring exists for when it changes.
Offices