Blockchain Capital's Pioneering Tokenized Fund Announces Dividend and Upgrades to ZKsync, Assembling its Portfolio Companies to Advance Venture Capital Investment Access
SAN FRANCISCO, Dec. 11, 2024 /PRNewswire/ -- Blockchain Capital (BCAP), an established venture firm in the blockchain space, today announced upgrades to its innovative tokenized venture fund, which underscores its commitment to decentralization and efficiency in venture capital investing. As part of the upgrade, the fund will be offering dividend payments to investors and will be migrating fully to ZKsync.
Blockchain Capital will distribute to the fund's token holders $0.25 per token in USDC. The dividend payout is expected on January 28, 2025. This dividend represents a return of 25% of the original 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 investors in the fund, who will benefit from faster transactions, substantially reduced fees, and anticipated dividend payouts. This fund disrupted the venture capital industry by enabling accredited and non-US investors to invest with flexible capital commitments, making venture capital accessible to a broader range of investors. From the original token offering in April 2017, the fund took in over 850 investors from 80 countries in investment amounts ranging from $10 to nearly $1M.
ZKsync is one of the leading Ethereum scaling solutions, offering a robust Layer 2 platform. Through its innovative zero-knowledge proof technology, ZKsync maintains Ethereum's security guarantees while dramatically improving transaction speed and reducing fees, making it an ideal platform for companies looking to bring tokenized assets to both institutional and mainstream audiences.
"Tokenized funds represent a transformative shift in venture capital, offering accessibility, transparency, and efficiency to a broader range of investors," said Alex Gluchowski, Co-Founder of ZKsync. "Blockchain Capital is utilizing ZKsync's technology to redefine how investors interact with and benefit from venture investments. Migrating from Ethereum mainnet and becoming exclusively available on ZKsync will allow investors to leverage technology for secure and faster transactions with significantly lower fees, which is exactly what the industry needs to scale and meet the demands of the community. It's exciting to see companies like Blockchain Capital, Circle, and Securitize share our belief that zero knowledge is the future of crypto and we're looking forward to seeing how they leverage ZKsync to advance the tokenization of assets."1
"Securitize has always valued the pioneering role Blockchain Capital has played in shaping the digital asset ecosystem. These latest upgrades to the fund 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're excited to integrate with and facilitate the migration to ZKsync, which will deliver immediate benefits to investors in the fund and is another step in leveraging blockchains to bring tokenized assets to institutional and mainstream investors alike."1
"We're extremely proud of the progress of our tokenized fund, and the delivery of our first dividend. Our upgrade to ZKsync is not just about enhancing its efficiency; we leapt at the opportunity to work hand-in-hand with our portfolio companies to redefine what's possible," said Brad Stephens, Co-Founder of BCAP. "We're building the democratized landscape we want to see, and we're supporting the companies who will further that mission."
The migration furthers BCAP's continued commitment to innovation and efficiency in venture capital, 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 and are also not advisory clients of or investors in BCAP or its affiliates, but there is a conflict of interest in endorsing BCAP by virtue of Mr. Gluchowski and Mr. Domingo being Co-Founders and Founders, respectively, of portfolio companies held by the fund. Therefore, any advice or opinions of the endorsers regarding BCAP or its affiliates may be influenced by such an arrangement.
About Blockchain Capital
BCAP is a pioneer and leading venture capital firm in the blockchain industry, founded in 2013. The firm has invested in over 100+ companies, protocols, and tokens. As one of the first fund managers in the space, BCAP has been actively involved in the blockchain ecosystem, providing not just capital but operational support to innovators building 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 mainstream. Deeply rooted in its mission to advance personal freedom for all, the ZKsync technology powers the entire Elastic Chain ecosystem and makes digital self-ownership universally available.
To learn more about ZKsync, visit http://www.zksync.io
Media Contact:
Charlotte Siller, Marketing Manager at Blockchain Capital
[email protected]
M Group Strategic Communications (on behalf of ZKsync)
[email protected]
1 The tokenized fund and other funds managed by BCAP have invested substantial capital in ZKsync and Securitize. Neither ZKsync nor Securitize, nor any affiliates thereof, were compensated for making statements in this press release.
The tokenized fund is an evergreen venture fund that invests in the equity and digital assets of projects in the blockchain industry. The fund's 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 fees to the manager, have been reinvested into the fund to make new investments. 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.
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 manager 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.
SOURCE Blockchain Capital
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