Saudi Arabian Tuwaiq Investment Fund part of Jadwa Investment Fund has invested a substantial amount in OPNX tokenized crypto exchange for bankrupt crypto companies. KSA based Tuwaiq Investment Fund is a real estate opportunistic fund managed by Jadwa Investment yet as per OPNX they are also a digital asset fund.

The statement was made in an OPNX tweet as they expressed their thanks to investors who had participated in the $25 million raise. As per the tweet, “As we approach the launch of claims for our first estate, Celsius, we’d like to express gratitude to everyone who believed in our mission of helping 20M+ claimants. A special thank you goes to our major investors, including AppWorks, Susquehanna (SIG), DRW, MIAX Group, Merchant Bank International, Token Bay Capital, Nascent, Tuwaiq Limited and many more.”

The tweet goes on to state, “They contributed not just capital, but also incredible feedback throughout the process of refining our vision, product offerings, tokenomics, legal framework & decision to relocate to HK. Token Bay Capital: HK fund specializing in fast emerging web3 startups across Asia Pacific.  Nascent: Early stage venture firm who provided incredible feedback to our team and- Tuwaiq Limited: Saudi Digital Asset Fund.

OPNX exchange aims to tokenize users’ claims to bankrupted crypto companies, allowing them to use bankruptcy claims as collateral to trade perpetuals’.

OPNX will acquire all assets of CoinFLEX including people, tech, and tokens. $FLEX will be the exchange token. As per OPNX website, “ A $20 billion market of claimants is desperately looking for a solution. This list includes FTX, Voyager, Celsius, Genesis, BlockFi, Mt Gox, and our creditors.”

Prior to this OPNX exchange, was recently tagged by Dubai’s VARA (Virtual Asset Regulatory Authority) as not regulated in the UAE, and rumors had surfaced that it was Bahrain sovereign wealth fund that had invested in the company. Yet now it is obvious that it was a KSA fund.

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.”