Fund Managers
The Ternary team comprises professionals with extensive experience in regulatory compliance and capital management.
We work alongside top fund managers to create world class funds which span from traditional hedge funds and private equity to cutting edge venture capital and quant funds. With our experience forming and administering blockchain funds in the early days of the industry, Ternary has developed a particular expertise in this nascent sector.
Ternary is a Capital Markets Services (CMS) Licensed Fund Management Company (LFMC) by the Monetary Authority of Singapore (MAS).
Fund Manager
Acharn Ratrasarn

Acharn Ratrasarn is Managing Director of Corinthians Capital Management PTE and Director of Prime Global Solution Company Limited, with experience spanning fund management, cross-border consulting, and business operations across Asia.
Since beginning his professional career in 2020, he has advised foreign fund managers on market entry and strategic development across Asian markets, contributed to agribusiness expansion across Japan, Taiwan, Korea, and Thailand, and participated in an investment feasibility study in Brunei. Early career exposure at Edmond de Rothschild further grounded him in private equity strategy, due diligence, and fund selection.
He holds an MBA from London Metropolitan University, a BBA in Management from Northwood University (Michigan), and a BBA in Hospitality Management with a Finance specialization from Hotel Institute Montreux, Switzerland.
Fund Manager
Changsung Kim

Changsung is the lead arbitrage quant and co-founder of the Alphanonce Market Neutral fund, a multi strategy crypto arbitrage fund.
Prior to joining Ternary, Changsung worked as global alpha researcher at Trexquant and as a software engineer at VCNC and Warevalley.
He holds a Bachelor of Science in Electrical Engineering from Seoul National University and won a gold prize in KPhO (Physics Olympiad) during his high school days.
Fund Manager
Fangda Wan

Fangda Wan is a Singapore-based Partner at MixMarvel, with experience spanning corporate strategy, investment and financing, gaming and entertainment, and technology partnerships across China, the US, and Southeast Asia.
At NetEase Games, where she spent six years as Vice President, she spearheaded corporate development across gaming ecosystems, e-sports, XR, and AI-generated entertainment, and built a 20-person virtual talent team from scratch that incubated a leading IP with over 1.5 million fans within a year. Earlier, as Head of International Strategic Partnership at Qihoo 360, she executed key deals with Google, Apple, and Microsoft, earning a "Golden Employee" award with a 0.4% selection rate. She also founded Beijing Athena Technology, and practiced as an Associate at Skadden Arps, leading IPO prospectus drafting for Chinese TMT companies.
She holds a Juris Doctor from Columbia Law School and a BA in Philosophy from Amherst College, and is admitted to the New York State Bar.
Fund Manager
Hunter Xin He

Hunter Xin He is a Singapore-based financial analyst with expertise in quantitative market analysis, secondary market research, and global technology sector coverage.
Since joining Antalpha Technology in 2023, he has led sector deep-dives across cutting-edge technology areas including Quantum Computing and Artificial Intelligence, delivering comprehensive industry trend reports to support investment decision-making through fundamental and technical analysis. Prior to this, he spent three years at Shanghai Wangqian Culture Investment as a Secondary Market Research Analyst, where he conducted industry barrier analysis, financial statement evaluation, competitive landscape assessments, and authored equity research reports with buy/sell recommendations grounded in macroeconomic logic and valuation modeling.
He holds an MBA from London Metropolitan University and an Associate Degree in Information Technology from The Open University of China.
Fund Manager
Jihun Mun

Jihun Mun is a founder/CEO of Alphanonce Singapore. He previously worked as Risk and Quantitative Analytics at Blackrock from 2017 -2018. Prior to that, in 2016, he was a Global Alpha Researcher at Trexquant Investment LP.
He also worked at a Korean Bitcoin Exchange - Korbit, as a Software Engineer Intern in 2015, and completed a Research Internship with Samsung Electronics.
He received a Bachelor of Science in Electrical Engineering from Seoul National University, and won 1st price in KMO (Korean Mathematical Olympiad) during his high school days. Mr. Mun is a director of Alpha273 Co. Ltd which is a service provider of the Master Fund.
Fund Manager
Kyungjae Lee

Kyungjae Lee is the CEO of Mispha Holdings Co., Ltd. He founded the company in 2020 and has been involved in real estate and private investments in Korea, China, and Southeast Asia. Prior to that, he worked as a manager at an industrial interior company in Shanghai, China from 2014 to 2018, and from 2018 to 2020, he had experience in leasing management at Rsquare (Real estate I.T company).
He received a Bachelor's degree in New Media from Fudan University in Shanghai, China in 2013, and a Master's degree from the University of Wisconsin in 2017.
Fund Manager
Louis Song Yuanzhe

Louis Song Yuanzhe is General Partner at SevenX Ventures, a Singapore and New York-based crypto and venture fund, with experience spanning early-stage venture investment, secondary market trading, and institutional partnerships across Asia and the US.
Since joining SevenX Ventures in 2022, he has risen from Investment Director to General Partner, directing the management of both primary and secondary funds, spearheading the firm's US market entry, and leading successful investments including Bluesky (10x) and Renzo (12x). He also established and scaled a dedicated secondary equity research and trading team focused on crypto-related equities. Prior to SevenX, he held roles at Seas Capital, where he led crypto research and SaaS sector investments, and at Source Code Capital, where he focused on post-investment talent network building.
Earlier in his career, Louis spent four years at Ambition Singapore, where he was promoted four times in 2.5 years and was named a Global Top-3 Performer in 2017, 2018, and 2019, ultimately building a technology recruitment team of eight from scratch.
He holds a Bachelor of Engineering in Chemical Engineering from the National University of Singapore, where he was awarded the SM2 Ministry of Education Scholarship.
Fund Manager
Tak Lee

Tak Lee is Founder and Managing Director of TKN Advisors, with experience spanning cross-border venture investment, fund advisory, and company building across India and the broader Asian region.
Since launching TKN Advisors in 2018, he has advised 30+ transactions worth over $100 million across 20+ companies — representing more than half of all Korean investments into Indian startups to date — and delivered the first-ever exit by a Korean VC in India. He has also successfully launched three India-dedicated funds with Korean investment firms.
Earlier in his career, Tak held roles at ARGA Investment Management covering the Global TMT sector, and gained additional experience through analyst stints at Boston Consulting Group, Stonebridge Capital, Front Range Companies, and Amundi.
He holds a BBA from Korea University Business School and studied as an exchange student at Durham University, achieving a First in Business Accounting & Finance and Corporate Finance.
Fund Manager
Tina Ju

Tina Ju is Co-Founder and Managing Partner of KPCB China and TDF Capital, with over 30 years of experience across venture capital, investment banking, and operations. Since starting her VC career in 1999, she has led more than 50 investments, including Alibaba, Baidu, JD.com, Focus Media, and China Auto Rental, and remains active in VC/PE, hedge funds, and social impact investing across Asia.
She currently serves on the boards of Jones Lang LaSalle, Yiren Digital, Chiral Quest, and SinoEV, and advises social entrepreneurs focused on climate and social challenges. Prior to venture capital, she held senior roles at Deutsche Bank, Merrill Lynch, JP Morgan, and Goldman Sachs.
Tina has been named one of Forbes China’s top 10 venture capitalists for ten consecutive years (2006–2016). She is the founding chairperson of Women in Leadership (WIL) and a member of the Global Leadership Council at Oxford Saïd Business School.
She holds a B.S. from UC Berkeley and an MBA from Harvard Business School.
Fund Manager
Varut Bulakul

Varut Bulakul is the Executive Vice president and President of Investments at The Brooker Group Public Company Limited (“Brooker Group”), a publicly listed company in Thailand. He has over 20 years of experience in finance, investment banking, and digital asset advisory. He drove the initiative for Brooker Group to be the first Thai listed company to adopt Digital Asset Treasury Program as well as investment in world class Digital Asset Venture Capital Funds.
Varut also plays a leading role in strategic advisory for corporate clients that want to add digital assets into their business model. Prior to Brooker Group, he worked at Bank of Ayudhya Public Company Limited as an Investment Banking Analyst from 2007 to 2010.
He holds a B.S. in Business Administration from Carnegie Mellon University in 2007 and an M.B.A. from the Sasin Graduate Institute of Business Administration in 2014.
Fund Manager
Yongchuan Pan

Prior to his current role as the fund manager of the Ternary Cypress Fund, Yongchuan spent 12 years with D E Shaw & Co trading in distressed and asset-backed investments.
From 2006-2012, Yongchuan was based in New York, responsible for trading asset-backed securities and related instruments.
Moving to London in 2012, Yongchuan was tasked with developing DE Shaw's European distressed assets segment with a focus on peripheral European countries, in particular Spain and Italy.
During this period, Yongchuan raised three distressed funds before moving to Hong Kong in 2015 to grow the firm's Greater China distressed portfolio.
Yongchuan graduated magna cum laude from Cornell University in 2006 with a Bachelor of Science in Operations Research and Industrial Engineering.