Bitget Unveils $300M Capital Program for MENA Quant Firms

Bitget has launched Project Archimedes, a $300 million capital program aimed at supporting quantitative trading firms and market makers in the Middle East and North Africa. The initiative is structured into two tracks: the Capital Provider Program, which provides $100 million for emerging quant firms with market-neutral strategies, and the Interest-Free Lending Program, offering $200 million to established institutions.

The program aims to address a key challenge faced by institutional traders: access to capital. According to Gracy Chen, CEO of Bitget, 'strong strategies often hit a ceiling where talent is no longer the limiting factor, but capital is.' Project Archimedes seeks to provide capable teams with the momentum needed to grow.

The initiative will initially focus on market-neutral strategies with solid track records and quantifiable risk controls. Participating firms will undergo strategy evaluation, due diligence, and drawdown assessments. Bitget notes that the program will support over fifty projects within the next six months.