Oraclum Capital, founded by Vuk Vukovic, is under investigation by federal prosecutors for allegedly misrepresenting fund performance. The firm operates the ORCA BASON Fund, which launched in early 2023 and focuses on weekly equity index options using a proprietary prediction model.
By late 2024, the fund reached $23 million to $25 million in assets under management, reporting gross returns of over 50%. Vukovic, an Oxford economics PhD, utilized his academic background as a key element of the fund's marketing strategy to attract capital.
The Croatian financial regulator, Hanfa, issued rulings in July and December 2025 that prohibited the trading and distribution of ORCA BASON Fund units in the country. The agency determined that the fund violated local laws by allowing retail investors access via a cooperative.
Oraclum Capital utilized the Zadruga Glas poduzetnika 2.0 cooperative to bypass restrictions that limit complex funds to professional investors. Hanfa ordered the cooperative to cease providing services to ineligible investors and mandated the return or redirection of €3.3 million.
