Blockchain Capital launched the first security token back in April 2017, this was to be the first tokenized venture fund. This STO event raised $10M USD.
Today they announced that the net asset value (“NAV”) of each BCAP token as of September 30th, 2020, is $5.53, based on the NAV of the underlying venture capital fund, Blockchain Capital III Digital Liquid Venture Fund, LP. Weekly NAV updates can be found at: http://www.loop.blockchain.capital/
The BCAP NAV finished up 23.7% for the third quarter of 2020. The Q3 increase was driven by the liquid/crypto assets of the fund’s portfolio, specifically Nexus Mutual, Filecoin and Bitcoin. The NAV is up 49.1% year-to-date.
The BCAP portfolio is up 453.0% since inception, post-STO from April 2017, and has a Net IRR of 63.8%. Performance figures are net of all fees and estimated carry.
The composition of the portfolio as of September 30th, 2020 is as follows:
While there are plenty of traditional cryptocurrencies in the portfolio, some special companies to note are Securitize and Harbor which are heavily involved in the digital securities space. Also to be noted is the addition of Libra the Facebook stablecoin project.
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 90+ companies and projects since its inception. The company invests in both equity and tokens 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.
The company’s view is that blockchain technology holds the promise to disrupt legacy businesses and create whole new markets and business models. Blockchain Capital believes its network of entrepreneurs, investors and advisors brings unrivaled resources to founders who want to leverage blockchain technology to change the world in profound ways.