In a recent report by the Australian Financial Review, it has been revealed that Animoca Brands, a blockchain-based gaming business formerly listed on the Australian Securities Exchange (ASX), is among several cryptocurrency companies being targeted by a $500 million fund.
The fund, known as C1 Fund, reportedly specializes in acquiring secondary shares at significant discounts of up to 80 percent.
Blockchain Gaming Giant Animoca Brands In Crosshairs Of C1 Fund
C1 Fund, founded by a group of former Coinbase lawyers and investors, has held discussions with several local venture firms, offering to purchase private holdings from investors at discounts ranging from 50 to 80 percent of their last valuation.
Per the report, the fund’s strategy focuses on crypto companies with a minimum valuation of $300 million in their last funding round, preferably at Series C or later stages. C1 Fund aims to invest between $20 million and $50 million in these companies.
Citing the current market cond
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