C1 Fund Inc., a newly formed closed-end investment company, has announced the completion of its initial public offering (IPO) of 6,000,000 shares of common stock at $10.00 per share, raising $60 million. The company’s common stock began trading on the New York Stock Exchange (NYSE) under the ticker symbol “CFND” on August 7, 2025. Proceeds from the IPO will be utilized to acquire investments consistent with the fund’s stated objectives and strategies outlined in its prospectus.
Dr. Najam Kidwai, President and Chief Executive Officer of C1 Fund, stated that the fund’s mission is to broaden access to emerging digital asset innovators while they remain private. He emphasized the strategy of investing in leading private digital asset services and technology companies that are anticipated to develop disruptive technologies, reach substantial markets, and offer significant commercial opportunities. This approach, combined with the NYSE listing, aims to provide public market investors with access to these private companies during their growth phases, drawing a parallel to early opportunities in the internet and AI sectors.
C1 Fund Inc., a Maryland corporation based in Palo Alto, California, is advised by C1 Advisors LLC, also located in Palo Alto. The fund is structured to offer public market investors early access to a curated portfolio of what the adviser identifies as 30 leading private digital asset services and technology companies globally, specifically excluding companies primarily administered in the People’s Republic of China, including Hong Kong and Macao. Portfolio construction will be guided by a proprietary investment process that incorporates quantitative and qualitative research, fundamental analysis, and specialized domain expertise.
The fund’s leadership team includes Dr. Najam Kidwai as President and CEO, Elliot Han as Chief Investment Officer of C1 Advisors, Michael Lempres as Chairman, Michael (Xu) Zhao as Vice Chairman, and David Hytha as Chief Financial Officer.
The Benchmark Company, LLC served as the sole book-running manager for the IPO, with SoFi Securities LLC and China Renaissance Securities (Hong Kong) Limited acting as co-managers. The IPO was conducted pursuant to the Fund’s registration statement on Form N-2 (File Nos. 333-283139 and 811-24022), as amended, which was declared effective by the U.
S. Securities and Post and Exchange Commission (SEC) on August 6, 2025.
