C1 Fund Hires MZ Group, Pursues Sell-Side Coverage as Digital Asset IPO Pipeline Peaks
CFND•C1 Fund holds eleven late-stage digital asset infrastructure positions and $15 million in U.S. Treasuries as of March 31, 2026, while pursuing measures to close its share-price discount to NAV. CEO Kidwai has hired MZ Group for investor relations, seeks sell-side coverage and notes the most active late-stage digital asset IPO pipeline.
1. NAV Discount Strategy
C1 Fund’s management believes its share price understates net asset value due to low investor awareness and market familiarity. The fund holds eleven high-conviction late-stage digital asset infrastructure positions and is deploying a multi-pronged strategy—including education and portfolio milestones—to narrow its discount to NAV.
2. Investor Relations Initiatives
To boost visibility, C1 Fund has engaged MZ Group to lead its investor relations program, resulting in conference appearances, a New York non-deal roadshow, targeted media placements and consistent earnings communications. The fund is also establishing sell-side analyst coverage to enhance information flow and investor conviction.
3. Portfolio Execution and IPO Pipeline
Management views portfolio liquidity events as key revaluation catalysts, noting that every IPO, divestiture and valuation mark-up forces the market to reassess underlying asset value. One holding, BitGo, went public and remains under lockup until July 21, 2026, after which timing and market conditions will guide any liquidity decision.
4. Treasury Holdings and Capital Deployment
As of March 31, 2026, the fund held $15 million in U.S. Treasury securities and remains selective on new investments. Future capital is earmarked for late-stage businesses with credible paths to liquidity events, with management citing favorable market tailwinds and a robust pipeline of suitable opportunities.
