SAN FRANCISCO, December 11, 2024 /PRNewswire/ — Blockchain Capital (BCAP), a well-established blockchain venture capital firm, today announced upgrades to its innovative tokenized venture capital fund, which highlights its commitment to favor of decentralization and efficiency of venture capital investment. As part of the upgrade, the fund will offer dividend payouts to investors and fully migrate to ZKsync.
Blockchain Capital will distribute to fund token holders $0.25 per token in USDC. The payment of the dividend is expected on January 28, 2025. This dividend represents a return of 25% of the initial purchase price of $1 per fund token in the initial token offering in April 2017.
The migration to ZKsync, supported by BCAP portfolio companies Securitize, Circle and Matter Labs, represents a significant upgrade for the fund’s investors, who will benefit from faster transactions, significantly reduced fees and early dividend payouts. This fund disrupted the venture capital industry by allowing accredited and non-U.S. investors to invest with flexible capital commitments, making venture capital accessible to a wider range of investors. From the original token offering in April 2017the fund welcomed more than 850 investors from 80 countries for investment amounts ranging from $10 almost 1 million dollars.
ZKsync is one of the main Ethereum scalable solutions, providing a robust Layer 2 platform. With its innovative zero-knowledge proof technology, ZKsync maintains EthereumThe security guarantees while significantly improving transaction speed and reducing fees, making it an ideal platform for companies looking to offer tokenized assets to the institutional and general public.
“Tokenized funds represent a transformative change in venture capital, providing accessibility, transparency and efficiency to a wider range of investors. » said Alex Gluchowskico-founder of ZKsync. “Blockchain Capital uses ZKsync’s technology to redefine how investors interact with and benefit from venture capital investments. Ethereum mainnet and becoming exclusively available on ZKsync will allow investors to leverage the technology for secure, faster transactions with significantly lower fees, which is exactly what the industry needs to evolve and meet community demands. It’s exciting to see companies like Blockchain Capital, Circle, and Securitize share our belief that zero knowledge is the future of economics. crypto and we can’t wait to see how they leverage ZKsync to advance asset tokenization.1
“Securitize has always valued the pioneering role played by Blockchain Capital in shaping the digital asset ecosystem. These latest fund upgrades demonstrate how Blockchain Capital continues to be a leader in opening up new opportunities for issuers and investors.” said Securitize co-founder and CEO Carlos Domingo. “We are excited to integrate and facilitate the migration to ZKsync, which will bring immediate benefits to the fund’s investors and is another step in leveraging blockchains to offer tokenized assets to institutional and traditional investors.”1
“We are extremely proud of the progress of our tokenized fund and the payment of our first dividend. Our upgrade to ZKsync isn’t just about improving its efficiency; we jumped at the opportunity to work hand in hand with our portfolio companies. to redefine what is possible,” said Brad Stephensco-founder of BCAP. “We’re building the democratized landscape we want to see, and we’re supporting the companies that will advance that mission.”
This migration reinforces BCAP’s ongoing commitment to innovation and efficiency in the venture capital space, building on the fund’s remarkable achievements and its role in democratizing access to venture capital investments.
Note: Mr. Gluchowski and Mr. Domingo are not compensated for this endorsement nor are they advisory clients or investors in BCAP or its affiliates, but there is a conflict of interest in the endorsement of BCAP under Mr. Gluchowski and Mr. Domingo. being respectively co-founders and founders of the portfolio companies held by the fund. Therefore, any advice or opinion of endorsers regarding BCAP or its affiliates may be influenced by such arrangement.
About Blockchain Capital
BCAP is a pioneering and leading venture capital firm in the blockchain industry, founded in 2013. The company has invested in over 100 companies, protocols and tokens. As one of the first fund managers in the field, BCAP has been actively involved in the blockchain ecosystem, providing not only capital but also operational support to innovators laying the foundations of the blockchain economy.
To learn more about BCAP, please visit https://www.blockchaincapital.com.
About ZKsync
ZKsync uses Zero Knowledge (ZK) technology to scale Ethereum and bring crypto to the general public. Deeply rooted in its mission to advance personal freedom for all, ZKsync technology powers the entire Elastic Chain ecosystem and makes digital ownership universally available.
To learn more about ZKsync, visit http://www.zksync.io
Media Contact:
Charlotte Sillermarketing manager at Blockchain Capital
(email protected)
Group M Strategic Communications (on behalf of ZKsync)
(email protected)
1 The tokenized fund and other funds managed by BCAP have invested significant capital in ZKsync and Securitize. Neither ZKsync nor Securitize, nor any of their affiliates, were compensated for their statements in this press release.
The Tokenized Fund is an evergreen venture capital fund that invests in the equity and digital assets of projects in the blockchain sector. Fund tokens represent an indirect economic interest in the fund and are not redeemable. Prior to this first dividend announced here, all returns from the fund’s investments, net of manager fees, were reinvested in the fund to make new investments. Nothing presented here is intended to constitute investment advice, and under no circumstances should the information provided here be used or construed as an offer to sell or a solicitation of an offer to buy any security or interest in an investment fund.
The information provided here is historical and past performance is not indicative of future results. As with any investment strategy, there is the potential for profit as well as the risk of loss. No guarantee of investment performance is provided and no inference to the contrary should be made. It should not be assumed that an investment in a fund managed by the Manager or its affiliates will be profitable. Investing in the fund described here will only be suitable for certain sophisticated investors who do not require immediate liquidity in their investment and who are comfortable with the significant risks associated with such an investment.
SOURCE Capital Blockchain
YOU WANT THE NEWS OF YOUR COMPANY FEATURED ON PRNEWSWIRE.COM?
440,000+
Newsrooms and
Influencers
9k+
Digital media
Points of sale
270,000+
Journalists
Registration
