• Sridhar posted an update in the group Group logo of BCAP PortfolioBCAP Portfolio 1 year, 3 months ago

    I participated in the BCAP ICO sending my 23 ETH – the total value was only 1000$ at that time. And 23 ETH was around 50% of ETH I had. Since the ICO, with only the rest 50% of the ETH, my total value has gone up by 30x the original investment, compared to BCAP’s meagre 4x returns with professional investors on board. I don’t know how to express my disappointment at this fund. I have been patient at this fund all this long, but it has been disappointing. The lack of transparency, communication even after several months, it is hurting to have participated in this ICO sending out a big chunk of my ETH to BCAP. Can someone from BCAP team tell us when it would be possible to get updates on our investments? Why this underperformance? I see that Bitcoin has increased 6x times, ETH has increased 30x, Filecoin has increased 5-10x, and many other investments by BCAP has also increased by (5+)x, while BCAP has only increased by 4x. Why is this so? Or, explain us how the NAV is calculated? Is it from the realized gains in cash or from the value of the asset itself? If the realized gain is based on value, I would be very disappointed.

    • Not part of team but a couple of things – imagine the NAV update later today should be pretty good – am gonna guess $4.5 region.

      Secondly as Filecoin tokens have not started trading they have to mark them at cost. If the futures pricing here is remotely accurate – and assuming filecoin is 5% of fund then you would potentially increase Nav by $1.35.

      Thirdly, they charge a 25% performance fee so whilst the nav is currently $4.01, the Gross Asset Value (GAV) is closer to $5.35.

      Finally, the Q2 Nav was $1.03, so they obviously converted the proceeds of the token sale into $ and started investing relatively slowly.

      • How do you know filecoin would be marked at cost? What about ripple? ( They have an investment in the company right?)