C1 Fund targets Animoca Brands, Chainalysis in investment strategy
Crypto 1’s C1 Fund targets Australian crypto firms like Animoca Brands and Chainalysis for discounted secondary share acquisitions in a shifting market landscape. Through the $500 million fund, Crypto 1 seeks to buy private holdings at substantial discounts, ranging from 50% to 80% below previous valuations. The C1 Fund, established by former Coinbase lawyers and investors, focuses on firms valued at a minimum of $300 million in their last funding round, particularly those at or beyond the series C stage. Investments are anticipated to range between $20 million and $50 million. The strategy emerges from what the fund perceives as attractive valuations in the digital assets market, a result of current market dynamics, including hyperinflation and rising interest rates. You might also like: North America leads in crypto usage trend, Chainalysis says Among the fund’s targets is Hong Kong-based Animoca Brands, which was delisted from the Australian Securities Exc...