Blockchain Capital’s BCAP Token Q4, 2022 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 January 1, 2023, they announced that the net asset value (“NAV”) of each BCAP token as of December 31, 2022 is $18.00, based on the NAV of the underlying venture capital fund, Blockchain Capital III Digital Liquid Venture Fund, LP.
BCAP NAV ended down 3.5% for Q4 2022. The reason for the Q4 decline was not given, but it is believed to be driven by inflation fears and the Q4 2022 decline in the cryptocurrency market.
There are two companies in this share portfolio that are worth noting. The first is Kraken, a highly regulated cryptocurrency exchange that could benefit from additional regulatory oversight on exchanges and may be happy to find former customers of the collapsed FTX exchange. Since Kraken is not yet publicly traded, the potential upside is higher than Coinbase, an exchange that could also benefit from the FTX fiasco.
The most valuable future company in the portfolio may be Securitize. They are currently overdue for a Series C, having raised $48 million in a Series B in June 2021. Securitize is the market leader in the new digital securities space, in fact Securitize is the wallet and portal used for BCAP investors.
The BCAP portfolio is up 1700% since inception, after STO from April 2017, and has a net IRR of 65.6%. Performance figures are net after all fees and carry.
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 January 2022, and has recently emerged as a top 100 market capitalization token. This recent price increase will benefit investors in Q1 2022.
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 – giving founders 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 founders who want to leverage blockchain technology to change the world in profound ways.
