C1 Fund, a closed-end fund focused on digital assets, plans to submit an initial registration statement for a $100 million IPO

According to Businesswire, the closed-end investment company C1 Fund Inc. submitted an initial registration statement to the U.S. Securities and Exchange Commission (SEC) on November 12th, planning to raise $100 million through an Initial Public Offering (IPO). The fund will invest at least 80% of its total assets in equity and equity-related securities of companies in the digital asset services and technology sectors, with a focus on the top 30 leading companies in this field.

C1 Fund is headquartered in Palo Alto, California, with Najamul Kidwai serving as co-founder, president and CEO. The fund plans to be listed on the New York Stock Exchange and will have C1 Advisors LLC from Palo Alto as its investment advisor. Kidwai stated that the fund aims to provide institutional and retail investors with opportunities to invest in global leading digital asset services and technology companies by maximizing total returns. The current registration statement has not yet taken effect; related stock issuance needs SEC review completion.