# OnPar

OnPar is an Asset Manager based in New York, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** New York, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 2023
- **Assets under management:** Undisclosed
- **Website:** tryonpar.com
- **LinkedIn:** https://www.linkedin.com/company/onpar

## Regulatory record

- **Reports private funds:** No

## About

OnPAR is a funding alternative for research communities facing government funding limitations. Its members comprise private foundations, pharmaceutical companies, and other private funders.

## Sectors

- AI/ML

## People

- Charles Cascarilla — Co-Founder
- Thomas Klocanas — Co-Founder

## Questions

### Who founded OnPar and what are their backgrounds?

OnPar was co-founded in 2023 by Tom Klocanas and Charles Cascarilla. Cascarilla is best known as the CEO and co-founder of Paxos, a regulated blockchain infrastructure platform. Klocanas has an investment background and works alongside Cascarilla in managing the firm's research process and portfolio construction.

### How does OnPar use artificial intelligence in its investment process?

OnPar trains bespoke large language models specifically for fundamental equity analysis. Rather than using AI as a supplementary screen, the firm positions its LLMs as the primary engine of idea generation, designed to surface dislocations and mispricings that conventional sell-side analysis and consensus models miss.

### What is OnPar's portfolio construction philosophy?

The firm runs a concentrated portfolio of roughly 10 to 20 high-conviction long and short equity positions. OnPar explicitly rejects the broadly diversified, factor-neutral construction common among institutional hedge funds, choosing instead to accept meaningful active share and tracking error to maximize exposure to its best ideas.

### Is OnPar associated with Paxos or any other blockchain-related entities?

While Charles Cascarilla is the CEO of Paxos and the two entities share a founder, OnPar operates as an independent investment management firm. There is no public indication that OnPar invests in digital assets or blockchain companies; its mandate focuses on fundamentally driven public equity markets.

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Last updated: 2026-06-03T20:00:00.000Z

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