Blockchain Capital Reports Third Quarter 2019 BCAP Token NAV
San Francisco, CA — October 1, 2019 — Blockchain Capital, a premier venture capital firm investing in blockchain technology companies, today announces that the net asset value (“NAV”) of each BCAP token as of September 30th, 2019, is $3.56, 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 www.blockchainloop.com.
The BCAP had a minor decrease in NAV during the quarter, falling 4.8% from Q2 2019. The majority of the decrease came from the liquid portion of the fund’s portfolio, but was partially offset by some mark-ups in equity positions. Bitcoin decreased 21.2% for the same period.
The BCAP portfolio is up 256.1% since inception, post-STO from April 2017, and has a Net IRR of 67.0%. Performance figures are net of all management fees and carry.
The composition of the portfolio as of September 30th, 2019 is as follows:
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 80+ 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.
Disclosures: Nothing presented herein is intended to constitute investment advice, and under no circumstances should any information provided herein be used or construed as an offer to sell or a solicitation of an offer to buy securities or interests in any investment fund. All figures listed above are unaudited estimates of Blockchain Capital III Digital Liquid Venture Fund, LP (the “Fund”) that have been generated by BC III DLVF GP, LLC (the “General Partner”), and are subject to modification by the Fund’s independent administrator and/or auditors. The Fund’s performance figures are net of all fees and expenses, including management fees and estimated carried interest, if any is due to the General Partner. Investment performance figures have been calculated based on the Fund’s investments and AUM. The information regarding performance, exposures, and other portfolio characteristics are presented as of the date referenced and may not be representative of Blockchain’s current or future investments. Portfolio holdings will vary.
The information provided herein is historical and past performance is not indicative of future results. As with any investment strategy, there is potential for profit as well as the possibility of loss. No guarantee of investment performance is being provided and no inference to the contrary should be made. It should not be assumed that an investment in any fund managed by the General Partner or its affiliates will be profitable. Investment in the fund described herein will be suitable only for certain sophisticated investors who have no need for immediate liquidity in their investment and who are comfortable with the substantial risks associated with such an investment. Please note that this letter contains unverified performance estimates and may be subject to change. The General Partner and its affiliates undertake no obligation to revise or update this information. THIS PERFORMANCE SUMMARY IS FOR INFORMATIONAL PURPOSES ONLY.
Any reproduction or other distribution of this material in whole or in part without the prior written consent of the General Partner is prohibited.