On August 29th, 2017, Blockchain Capital was awarded a record $3.7 million (2,837 BTC) by a venture capital fund that targets a return of 10% annually. The firm’s fund is called the Blockchain Capital III fund, and it was started by two of the firm’s partners, Chamath Palihapitiya and Jay Palmer.
The Blockchain Capital Token (BCAP) is a cryptocurrency token issued by Blockchain Capital. It is an ERC20 token, based on the Ethereum blockchain. One BCAP is currently worth $1 USD.
Blockchain Capital launched its first security token in April 2017, it is said to be the first tokenized venture capital fund. This STO raised $10 million, with each token sold for $1.
Today they announced that the net asset value (NAV) of each BCAP token as of June 30, 2021 is $16.37, based on the NAV of the underlying Blockchain Capital III Digital Liquid Venture Fund, LP. The weekly updates of the NAV can be found here.
BCAP’s net asset value decreased 31.3% in the second quarter of 2021. The decline in the second quarter was due to a cross-market sale of the fund’s liquid portfolio, somewhat offset by a significant increase in the value of OpenSea. Also worth noting is the recent underperformance of Coinbase, the fund’s largest holding, which made its debut on the Nasdaq on the 14th. The value of the stock in April 2021 was $328.28, but the stock currently stands at $233.72. This also had a negative effect on the value of the fund.
On the 21st. However, in June 2021, Securitize also raised $48 million in Series B funding. If security tokens (also known as digital securities) take off, Securitize’s holdings have the potential to be a game changer, as Securitize is a leader in this space.
BCAP’s NAV increased by 158.6% in 2021. The composition of the portfolio as at 30 September 2021 is as follows
In conclusion, cryptocurrency exchange Kraken plans to go public via direct listing in late 2021 or 2022, after registering record trading volume and new customers amid a sharp rise in the price of bitcoin.
About Blockchain Capital
Blockchain Capital was founded in 2013 to help entrepreneurs build blockchain-based businesses and world-class enterprises by providing founders with the tools they need to succeed: Capital, domain expertise, partnerships, recruitment and strategy.
Blockchain Capital is one of the first and most active venture capitalists in the blockchain industry, having funded over 100 companies and projects since its inception. The company invests in both equities and crypto assets and is a multi-stage investor. Blockchain Capital also pioneered the world’s first tokenized mutual fund and, in turn, the world’s first blockchain security token, BCAP, which the company sold through a security token offering in April 2017.
Blockchain Capital believes that blockchain technology has the potential to disrupt traditional businesses and create entirely new markets and business models, and invests in founders who want to use blockchain technology to dramatically change the world.
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