The C1 Secondaries Fund, which invests in companies in the digital assets space, is reportedly seeking to invest in crypto firms at discounts of up to nearly 80%.
C1 Secondaries Fund, which has assets worth $500 million, is looking to invest in crypto firms such as Animoca Brands and Chainalysis as crypto markets continue their bullish momentum.
Citing a pitch deck, the Australian Financial Review report on Dec. 10 said the Silicon Valley and UAE-based fund is prepared to write $20 million to $50 million cheques to buy private holdings in crypto companies with a valuation of $300 million and above in its last funding round.
Animoca Brands’ last capital raise sold shares at around $4.50. However, C1 Fund, whose co-founders include a former Coinbase executive, has offered to buy the shares at around $1.12, a price 75% below its most recent valuation.
