Blockchain Capital’s BCAP Token Q1, 2023 Results
Blockchain Capital launched the first security token back in April 2017, this was supposed to be the first tokenized venture fund. This STO event raised $10M USD with each token selling for $1.00.
On April 1, 2023, they announced that the net asset value (“NAV”) of each BCAP token as of March 31, 2023 is $14.72, based on the NAV of the underlying venture capital fund, Blockchain Capital III Digital Liquid Venture Fund, LP.
BCAP NAV ended up 9.9% for the first quarter of 2023. The BCAP portfolio is up 1,372% since inception, after STO from April 2017, and has a net IRR of 56.8%. The performance figures are net of all fees and carry.
The three largest holdings are currently as follows:
OpenSea, the world’s first and largest web3 marketplace for NFTs and crypto collectibles.
anchorage, a crypto platform that provides institutions with integrated financial services for digital assets and infrastructure solutions. It offers a digital bank as a crypto-native bank and also offers crypto strategies for leading institutions.
Circle Financial manages one of the most reliable stablecoins USDC, its value is linked to the US dollar.
The next two holdings in this stock portfolio are worth noting.
Kraken is a highly regulated cryptocurrency exchange that has recently benefited from signing up new investors due to the collapsed FTX exchange. Kraken is not listed on the stock exchange yet, but there are rumors of an IPO in 2023.
Another company that should be on the radar of investors is Securitize, the market leader in the emerging digital securities space, in fact Securitize is the wallet and portal used for BCAP investors.
Reviewing the crypto assets in the portfolio, the RocketPool (RPL) token may be the next unicorn, this token has more than doubled in value in 2023, and has recently emerged as a top 100 market capitalization token.
Bitcoin (BTC) and Ethereum (ETH) are obviously both market leading tokens and Ethereum is on a bull run since moving to Proof of Stake.
About Blockchain Capital
Blockchain Capital was founded in 2013 with the mission to help entrepreneurs build world-class businesses and projects based on blockchain technology – and provide founders with the tools they need to succeed: capital, domain expertise, partnerships, recruitment and strategy.
Blockchain Capital is one of the earliest and most active venture investors in the blockchain industry and has funded over 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 tokenized investment fund and by extension the blockchain industry’s very first security token, BCAP, which the company sold through a security token offering in April 2017.
Blockchain Capital believes that blockchain technology has the promise to disrupt legacy businesses and create entirely new markets and business models, and invests in entrepreneurs who want to leverage blockchain technology to change the world in profound ways.
