Sky Fund LLC was founded in December 2000, while Mr. Joseph Omansky was completing his position as equity options market maker for Lakota Trading Inc., a member firm of the Chicago Board Options Exchange. He began the implementation of an equity options volatility model with the billion-dollar multistrategy hedge fund firm Tradelink LLC in Chicago, a model he had developed while at the CBOE.

In March 2003, Mr. Omansky left Tradelink LLC to concentrate on the development of the SkyRank System of Hedge Fund Ratings. A New Jersey Limited Liability Company, Sky Fund LLC filed a patent with the USPTO in 2004.

SkyRank has rapidly grown and now rates over 7000 hedge funds, funds of funds and ctas utilizing Morningstar's high quality hedge fund database. SkyRank also receives data directly from thousands of hedge funds via its data upload feature on the SkyRank website. In March 2006, SkyRank began delivering subscriptions to its now confirmed standard rating methodology coupling its ratings with Morningstar data.

SkyRank offers related services to its subscriptions, including SkyRank Ratings and Data and SkyRank Republishing rights for funds.

Sky Fund LLC has hundreds of subscribers to the SkyRank Ratings and Data products and tens of thousands of visitors to its website properties monthly. Sky Fund LLC is a privately-owned company. Joseph Omansky is the creator and majority owner of Sky Fund LLC and the SkyRank System of Hedge Fund Ratings. Sky Fund LLC has a board of advisors made up of hedge fund and financial services professionals in the industry.