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C1 Fund Inc. completed its initial public offering of 6 million shares at $10 per share, raising $60 million for investments in private digital assets and blockchain technology companies.
The closed-end investment company began trading on the New York Stock Exchange under ticker NYSE: CFND on August 7, 2025, according to a company statement.
The fund plans to invest in what it describes as 30 leading private digital assets services and technology companies globally, excluding firms primarily based in China, Hong Kong, and Macao. The Maryland-based company will use proceeds to acquire investments aligned with objectives outlined in its prospectus.
"Our mission is to democratize access to the next generation of digital assets innovators while they are still private," said Dr. Najam Kidwai, the fund’s president and chief executive officer. "Instead of speculating on token prices, we’re focused on investing in the leading private digital assets services and technology companies."
The Benchmark Company served as sole book-running manager for the offering. SoFi (NASDAQ:SOFI) Securities and China Renaissance Securities (Hong Kong) Limited acted as co-managers.
The fund’s leadership team includes Kidwai, former chairman of Crypto 1 Acquisition Corp; Elliot Han as chief investment officer; Michael Lempres as chairman and former chief legal officer at Coinbase (NASDAQ:COIN); Michael Zhao as vice chairman; and David Hytha as chief financial officer.
The Securities and Exchange Commission declared the company’s registration statement effective on August 6, 2025. C1 Advisors will serve as the fund’s investment adviser from its Palo Alto, California base.