One capital.
Twelve layers.
Zero stories.
A quantitative multi-asset fund. Four streams. One process. We wait until the chorus is loud.
The Streams
Four streams. One process.
The thesis
We wait. The market shows up.
Twelve independent layers vote on every position. We act when the chorus is loud — and only then.
Read the thesis → →02 / The method
Twelve
witnesses.
One vote.
Each idea has to pass twelve independent checks — filings, flows, regulatory, macro, tape — before any capital moves. No layer sees the others. Confluence does the work, not narrative.
How the layers stack →03 / FROM SIGNAL TO POSITION
Eight gates. One position.
Every idea passes eight independent gates before any capital moves. No layer sees the others. The pipeline does the work; conviction does the rest.
Hunter · Latest signals
Where the chorus
is loudest today.
05 / TRACK RECORD
Honest numbers.
Paper today. Live capital Q3.
Flow 2026 paper-trade aggregate across all four streams. Live capital deploys Q3 once 90-day sandbox metrics clear governance gates.
Paper-trade simulation. Past performance does not predict future results. Live capital from Q3 2026.
06 / FEES THAT FACE UPWARD
Zero fee
until you win.
Industry standard is 2/20. We took mgmt to zero. Quarterly high-water mark crystallization. We only get paid when you do.
07 / THE STACK
Tools you
can't buy.
Three in-house systems do the work. The fund is the surface. The infrastructure is the edge.
Where we execute
Live positions · Confluence fund
Open today.
2026-05-07
The Field Notes
How we think.
10 / RUN BY
Desk discipline. Modern stack.
Matěj Drechsler — quantitative trading systems since 2018. onecap operates with the desk discipline of a 1990s prop shop and the tools of 2026: Hunter scanner, Risk Governor, Copilot AI, multi-asset routing, all built in-house.
11 / QUESTIONS, ANSWERED
Before you ask.
Who can invest?+
Qualified / professional investors in EU/EEA jurisdictions, family offices, and institutional vehicles. KYC and accreditation review required before subscription.
What's the minimum subscription?+
€100,000 initial. €25,000 incremental. Quarterly subscription windows align with HWM crystallization.
How does the 0/30 HWM fee work?+
Zero management fee. 30% performance fee charged only on returns above the high-water mark, crystallized quarterly. If quarter-end NAV is below the prior peak, no performance fee until you've fully recovered. 5% one-off entry fee on subscription.
What's the liquidity profile?+
Quarterly redemption windows with 30-day notice. No long lock-up. Investors retain unit registry; redemption proceeds settle within 14 business days of quarter-end.
Where is custody and is it segregated?+
Bybit (crypto stream, demo trading account during paper phase, live segregated wallet from Q3), Saxo Bank (equities and LEAPS, sub-account under fund), Polymarket (event arbitrage, USDC). All custody is segregated; investor capital is never commingled with operating capital.
What's the AIFM regulatory structure?+
Estonia limited partnership fund (LPF) under the small-AIFM regime, registered with the Estonian FSA. Annual audit by BDO. Quarterly reporting. Investor letters quarterly. Statutory documents on the Documents page.
Anything else? investors@onecap.fund
For qualified investors
Ready when
you are.
Quarterly subscriptions. Audited statements. Direct line to the desk.