Democratic Century Fund
Democratic Century Fund (DCF) was established in 1998 and is a hedge fund investing in emerging market securities that focuses on country selection.
'The Democratic Century' was the original title  of the book "The Democratic Imperative: Exporting the American Revolution" that Gregory Fossedal finished in april 1989 after working about 6 years on it and for which the Alexis de Tocqueville Institution received $5.000  from the John M. Olin Foundation to support promotion of that book.
On July 24, 2000, Insight on the news had an article about the Fannie Mae Foundation in which they wrote:
It turns out that a respected Washington pro-free-market think tank may not be so free after all. The Alexis de Tocqueville Institute, or AdeTI, accepted $25,000 from the Fannie Mae Foundation in 1996, and chairman Gregory Fossedal's Democratic Century Fund accepted $12,500 from Fannie Mae in 1998. ...
In a 1997 op-ed piece in the Wall Street Journal, Fossedal championed the flat tax and derided loopholes and tax breaks as bad policy for economic growth. Fannie and Freddie enjoy those very same tax breaks that, according to estimates by the Congressional Budget Office, amount to a government subsidy of $6 billion. Fossedal tells news alert! that Fannie Mae did not influence his op-ed. 
On the biography of Gregory Fossedal on the site of the Ernest Martin Hopkins Institute you can read:
Gregory Fossedal is the president of Emerging Markets Group, and was its founding director when the firm began operations in 1991. EMG manages the Democratic Century Fund, which manages emerging-market equity and debt portfolios for qualified individual and institutional investors. 
An older page in the Internet Archive had this information on the biography of Steve Hanke:
Dr. Hanke provides expert guidance on portfolio structure to insure the fund's invested positions are in line with its strategic top-down view of countries. He reviews DCF holdings on a monthly basis to guard against unintended sector, economic, or other positions, and recommend hedging strategies, where appropriate. 
Guaranty Capital (co-founded by Kerry Schaeffner) writes about their client DCF:
The fund is seeking investments of $1 million or more from institutional investors. 
- Daniel Mahony, Chairman, EMG Fund Management
- Gregory Fossedal, Chief Investment Officer , AdTI's Chairman
- Kenneth Brown, Director and Vice President , AdTI's President
- Sita Mazumder, Director , AdTI's director
- Kerry Schaeffner, Director
- Prof. Steve Hanke, Associate
- Hon. Donald Payne,Associate, AdTI's Co-Chairman Opportunity Africa
- Hon. John Whitehead, Associate, member of the senior advisory board of AdTI's Committee for the Common Defense