Chapter IV

Deep experience in
high-stakes crypto markets.

Two principals. One specialized mandate. A partnership that has operated through every major crypto cycle and structured transactions across category-defining infrastructure platforms.

Filipp Colesnikov · Managing Partner
Filipp Colesnikov Managing Partner
Principal 01

Filipp Colesnikov

Managing Partner · Founder of the Keystone secondary thesis

Twenty-five-plus early-stage investments spanning seed to Series B, with a deep specialization in token mechanics and liquidity strategy across multiple market cycles. Filipp founded the Keystone secondary thesis after observing the structural mismatch between late-stage crypto valuations and available liquidity infrastructure.

His track record in the CoinList portfolio (6.1× realized MOIC) and direct transactions across top-tier crypto exchanges anchors the firm's sourcing and valuation discipline. Filipp leads new investment origination, transfer-path coordination, and the General Partnership's institutional LP relationships.

Investments
25+
Realized MOIC
6.6×
Private Ventures IRR · 2023
48%
Coverage
Seed → Series B
  • Origin — Founded the Keystone late-stage secondary mandate after operating across multiple crypto market cycles since 2017.
  • Edge — Direct relationships across founder-led category leaders, including a representative transaction on a top-5 crypto exchange.
  • Role — Investment origination, LP relations, transfer-path execution, portfolio construction.
“The advantage isn't access alone — it's execution. Most capital cannot transact in this market. Those that can extract the premium.”
Anatolie Damaschin · Partner
Principal 02

Anatolie Damaschin

Partner · Late-stage secondary specialist

Specialist in late-stage secondary strategy across vintages. Anatolie has led structured transactions across multiple top crypto unicorns, including Kraken, and built the execution architecture that transforms transfer barriers into disciplined entry pricing.

His delivery of 4.0× MOIC across the 2023 vintage and 2.4× across 2024 reflects a methodical approach to common-stock aggregation, carry settlement, and ROFR coordination. Anatolie leads diligence, execution, and operational architecture.

2023 MOIC
4.0×
2024 MOIC
2.4×
IRR ’23 / ’24
48 / 36%
Coverage
Late-stage secondaries
  • Specialism — Structured transactions across crypto unicorns including Kraken. Cap-table-direct execution across vintages.
  • Edge — Designed the firm's carry settlement framework and aggregation methodology for institutionally relevant block sizes.
  • Role — Diligence lead, execution architect, operational risk & portfolio analytics.
Anatolie Damaschin · Partner
Anatolie Damaschin Partner
IV.II Senior Advisors

Operator-led counsel.

Two senior advisors with deep institutional crypto experience — operating across custody infrastructure, crypto venture, and cross-border deal making.

Dmitri Tokarev

Founder, Copper

Founder of Copper, the institutional-grade digital asset custody and prime services platform. Brings deep counsel on custody, settlement, and institutional infrastructure design.

Mike Lobanov

ex-Target Global Crypto

Former head of Crypto at Target Global. Brings cross-border venture network and investor-relations expertise spanning European, UK, and Middle East allocators.

Investor Access

Engage the Partnership
directly.

Available to qualified institutional investors and family offices. Minimum commitment $500K. Reach out for the full LP package and data room access.

Request the Data Room
Minimum Commitment$500K
Fund VehicleCayman Islands LP
Target Net IRR20–30%
Target Gross MOIC2.5–4.0×
ReportingQuarterly · audited
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