Digital asset custodian BitGo, a portfolio company of C1 Fund Inc., has successfully completed its Initial Public Offering (IPO). This event marks C1 Fund’s first portfolio company exit, occurring less than six months after the fund’s own IPO.

BitGo, valued at over $2 billion, is a prominent provider of institutional digital asset custody and infrastructure services. The company supports secure storage, compliance, and settlement for financial institutions within the digital asset ecosystem. It raised $212.8 million in its IPO. BitGo currently holds over $104 billion in assets on its platform and has facilitated the creation of more than 9.3 million wallets, establishing itself as a top custodian and staking provider.

Elliot Han, Chief Investment Officer of C1 Fund, commented on the investment, stating, “From an investment perspective, BitGo exemplifies the type of business we seek to back – one with strong institutional adoption, a critical role in market infrastructure and a clear path to operating within regulated financial markets.” He added that this reflects C1 Fund’s focus on late-stage private companies positioned for public market access.

C1 Fund’s investment strategy aligns with its core mandate of targeting private and late-stage companies that facilitate the institutional adoption of digital assets through critical infrastructure and services. As of December 31, 2025, C1 Fund had committed over $30 million across various portfolio companies, including those in custody, blockchain analytics, developer platforms, and regulated financial services.

Dr. Najam Kidwai, Chief Executive Officer of C1 Fund, congratulated the BitGo team on their achievement, noting, “BitGo’s public listing reflects the continued maturation of the digital asset ecosystem and the increasing role of regulated platforms in supporting institutional participation.”

C1 Fund Inc. (NYSE: CFND) operates as a closed-end investment company, offering public-market investors access to a portfolio of private and late-stage companies. These include firms like Kraken, Ripple, and Consensys, which are instrumental in building the underlying infrastructure for the digital asset economy. Unlike investment vehicles that pursue direct exposure to cryptocurrencies, C1 Fund concentrates on equity ownership in companies that develop and operate this essential infrastructure.