Today they announced that the net asset value (“NAV”) of each BCAP token as of June 30th, 2021, is $16.37, based on the NAV of the underlying venture capital fund, Blockchain Capital III Digital Liquid Venture Fund, LP. Weekly NAV updates can be found here.
The BCAP NAV finished down 31.3% for the second quarter of 2021. The Q2 decrease was driven by crossmarket selloff across the fund’s liquid portfolio, somewhat offset by the large increase in the value of OpenSea. Also to note is the recent underperformance of Coinbase the largest holding of the fund, the value was $328.28 per share in its Nasdaq debut on April 14th, 2021, but the share price is currently $233.72 as of this writing. This has also negatively impacted the value of the fund.
Nonetheless, June 21st, 2021 also marked Securitize raising $48 Million in a Series B. Should security Tokens (also known as digital securities) take off, the Securitize holdings have the potential to be a gamechanger, as Securitize is a leader in this space.
The BCAP NAV is up 158.6% for 2021. The composition of the portfolio as of June 30th, 2021, is as follows:
On a final note, cryptocurrency exchange Kraken is considering going public through a direct listing in late 2021 or 2022, after seeing record trading volumes and new clients amid a surge in the price of bitcoin.
About Blockchain Capital
Blockchain Capital was founded in 2013 with the mission of helping entrepreneurs build world-class companies and projects based on blockchain technology – providing founders with the tools they need to succeed: capital, domain expertise, partnerships, recruiting and strategy.
Blockchain Capital is one of the earliest and most active venture investors in the blockchain industry and has financed 100+ companies and projects since its inception. The company invests in both equity and crypto assets and is a multi-stage investor. Blockchain Capital also pioneered the world's first ever tokenized investment fund and by extension the blockchain industry's very first security token, the BCAP, which the company sold through a security token offering in April of 2017.
Blockchain Capital believes that blockchain technology holds the promise to disrupt legacy businesses and create whole new markets and business models, and invests in founders who want to leverage blockchain technology to change the world in profound ways.