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C1 Fund Inc. is a closed-end investment fund established in 2024, providing investors access to the private digital asset ecosystem. The fund is managed by C1 Advisors and is headquartered in Palo Alto, California. C1 Fund focuses on a curated portfolio of late-stage private companies that play a significant role in the development of digital asset services and technology.
As of Q3 2025, C1 Fund has approximately $52.4 million in net asset value and has deployed $16.5 million across its portfolio. The fund's structure is publicly traded on the NYSE under the ticker CFND, with a gross IPO proceeds of $60 million. C1 Fund aims to maintain a portfolio of around 30 companies, with at least 80% of its assets invested in digital asset services and technology.
C1 Fund invests primarily in private digital asset services and technology infrastructure companies. The fund targets businesses that are integral to trading, custody, compliance, development, and settlement within the digital asset ecosystem. This includes companies that demonstrate regulatory maturity and operational resilience, which are essential for navigating the complexities of the digital asset market.
The investment strategy emphasizes late-stage companies that are less susceptible to market volatility, focusing on those with scalable business models. C1 Fund's portfolio includes notable names such as Kraken, Ripple, and Chainalysis, reflecting its commitment to infrastructure-led investments in the digital asset space.
C1 Fund's portfolio consists of six notable companies that are influential in the digital asset ecosystem:
This concentrated portfolio reflects C1 Fund's focus on infrastructure-first investments, targeting companies that provide essential services within the digital asset market.
Dr. Najamul Hasan Kidwai: Co-Founder, President & Chief Executive Officer. Dr. Kidwai has extensive experience in digital assets and has been instrumental in shaping the fund's strategy.
Elliot Han: Chief Investment Officer at C1 Advisors LLC. Han brings a wealth of knowledge in investment management and has led several successful funding rounds.
David Hytha: Chief Financial Officer, Secretary & Treasurer. Hytha oversees the financial operations of the fund, ensuring compliance and fiscal responsibility.
Cheriyl Lakshmy: Co-Founder & Director of Operations. Lakshmy plays a key role in managing the fund's day-to-day operations and strategic initiatives.
Alex Morgan: Chief Compliance Officer. Morgan ensures that the fund adheres to regulatory requirements and maintains high standards of compliance.
Jeffrey H. Singer: Chairman of the Board of Directors. Singer brings significant experience in corporate governance and strategic oversight.
Michael (Xu) Zhao: Vice Chairman of the Board. Zhao contributes to the fund's strategic direction and investment decisions.
Matthew Krna: Director on the Board. Krna provides insights into market trends and investment opportunities.
Scott Reed: Director on the Board. Reed offers expertise in operational management and strategic planning.
To pitch C1 Fund, founders should use the online application portal available at c1fund.com. The pitch deck should include a comprehensive overview of the business, market analysis, and financial projections. C1 Fund prefers detailed presentations that highlight the company's unique value proposition and competitive advantages.
Response times can vary, but founders can expect to hear back within a few weeks after submission. Warm introductions are beneficial but not strictly necessary for consideration.
On November 20, 2025, C1 Fund hosted its Third Quarter 2025 Earnings Conference Call, discussing its recent investments and financial performance. The fund has actively deployed capital since becoming operational in 2024, with $16.5 million already invested and an additional $27 million planned for future commitments.
Recent investments include significant stakes in companies such as Kraken, Ripple, and Chainalysis, with announcements made in late 2025 regarding investments in Figment and ConsenSys. C1 Fund's strategy emphasizes infrastructure-focused investments, aligning with its thesis of targeting companies with regulatory maturity and operational resilience.
What are C1 Fund's investment criteria?
C1 Fund focuses on late-stage private companies within the digital asset ecosystem, particularly those involved in trading, custody, compliance, development, and settlement. The fund seeks businesses with regulatory maturity and operational resilience.
How can I pitch to C1 Fund?
Founders can pitch to C1 Fund through their website at c1fund.com. It is advisable to include a detailed business plan and financial projections in the pitch deck.
What makes C1 Fund different from other investors?
C1 Fund is unique as it is the first publicly listed vehicle providing access to late-stage private digital asset infrastructure companies. This structure allows both retail and institutional investors to participate in the digital asset market.
What is the geographic scope of C1 Fund's investments?
C1 Fund invests globally, with a particular focus on North America. This broad geographic reach allows the fund to tap into various markets and opportunities within the digital asset space.
What is C1 Fund's follow-on investment behavior?
C1 Fund is committed to supporting its portfolio companies through follow-on investments as they grow and scale. The fund's team has extensive experience in digital assets, enabling them to provide valuable insights and resources.
What is the typical check size for investments?
While specific check sizes are not disclosed, C1 Fund's total fund size is $60 million, indicating a capacity for significant investments in late-stage companies.
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