UAE and USA based C1 Secondary’s Fund managed by C1 Investment Advisors LLC, a team of international entrepreneurs and investors, have announced a $500 million investment fund targeting secondary’s in blockchain, crypto, Web3, and Fintech entities.
Secondary funds, commonly referred to as secondaries or continuation transactions, purchase existing interests or assets from primary private equity fund investors. For example, a primary private equity fund may purchase a stake in a private company, and then sell that interest to a secondary buyer.
The C1 Secondary’s Fund is a regulated private investment fund formed for the purpose of investing in secondary’s asset acquisition – the purchase of shares in existing private growth companies.
The C1 Fund portfolio focuses on digital assets, blockchain technology and applications, cryptocurrency services (not direct investment in cryptocurrencies), Web3 financial applications, and advanced FinTech. Sample target company applications include digital assets and cryptocurrency exchanges, payment systems and/or related financial services companies, including wallets, custodian-services, lending, and decentralized finance.
The Fund will invest across multiple geographies but with a focus on secondary’s investments in international markets, especially those with strong and/or growing regulatory regimes.
The C1 Secondary’s Fund is led by Dr. Najamul Kidwai, Co-Founder and Managing Partner, Michael Lempres, Co-Founder and Managing Partner, Michael (Xu) Zhao, Co-Founder and Managing Partner, David Hytha, Co-Founder and Partner, and Cheriyl Lakshmy, Co-Founder, Director of Research and Operations.
The C1 team recently founded and led the successful initial public offering of Crypto 1 Acquisition Corp $230M raise.
C1 Secondary’s Fund Co-Founder and Managing Partner Dr. Najam Kidwai stated, “Despite the so-called Crypto reset, investment in Digital Assets and Crypto-related services continues to grow rapidly. At its core this is the next digitization of finance”.
The C1 Secondary’s Fund will focus on companies operating under significant regulatory frameworks. Co-Founder and Managing Partner, Michael Zhao stated “the regulated route is the only route for any crypto company’s growth if it wants to be a serious player for the long run. Long gone are the days when digital asset players enjoyed an early-mover advantage and benefited from a fast-growing bull market. Recent crypto market turbulence is just another example that shows why the market needs proper risk control and compliance; we are focused on these companies.”