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Crypto 1’s C1 Fund targets Australian crypto firms like Animoca Brands and Chainalysis for discounted secondary share acquisitions in a shifting market landscape. 
Through the $500 million fund, Crypto 1 seeks to buy private holdings at substantial discounts, ranging from 50% to 80% below previous valuations. 
The <a href="https://www.afr.com/technology/north-american-crypto-fund-scours-australia-looking-for-bargain-buys-20231119-p5el5m" data-type="link" data-id="https://www.afr.com/technology/north-american-crypto-fund-scours-australia-looking-for-bargain-buys-20231119-p5el5m" target="_blank" rel="noopener">C1 Fund</a>, established by former Coinbase lawyers and investors, focuses on firms valued at a minimum of $300 million in their last funding round, particularly those at or beyond the series C stage. Investments are anticipated to range between $20 million and $50 million. The strategy emerges from what the fund perceives as attractive valuations in the digital assets market, a result of current market dynamics, including hyperinflation and rising interest rates. 
 You might also like: <a href="https://crypto.news/north-america-leads-in-crypto-usage-trend-chainalysis-says/"> North America leads in crypto usage trend, Chainalysis says </a> 
Among the fund’s targets is Hong Kong-based <a href="https://crypto.news/tag/animoca-brands/" data-type="link" data-id="https://crypto.news/tag/animoca-brands/">Animoca Brands</a>, which was delisted from the Australian Securities Exchange in 2020. Despite previous governance issues and its involvement in crypto-related activities, Animoca’s valuation soared to $5.9 billion last year. C1 Fund aims to purchase shares at a 75% discount from the last capital raise price. 
Another target, <a href="https://crypto.news/tag/chainalysis/" data-type="link" data-id="https://crypto.news/tag/chainalysis/">Chainalysis</a>, a firm specializing in blockchain analysis, was valued at $8.6 billion in 2022. C1 Fund is eyeing a 65% discount on the secondary market for its shares. 
The initiative was announced in March, reflecting a growing interest in secondary market opportunities within digital assets. Requests for comments from Crypto 1, Animoca Brands, and Chainalysis on these developments were either not responded to or declined. 
 Read more: <a href="https://crypto.news/animoca-brands-plans-to-raise-1-billion-to-fund-metaverse-companies/"> Animoca Brands plans to raise $1b to fund metaverse companies </a>

C1 Fund targets Animoca Brands, Chainalysis in investment strategy

crypto.news

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