KEY TAKEAWAYS
- Blockchain Capital has announced significant upgrades to its tokenized venture fund, emphasizing decentralization and efficiency.
- The fund will migrate to ZKsync, enhancing transaction speed and reducing fees, while offering a 25% dividend payout to investors.
- This strategic move is supported by BCAP’s portfolio companies, including Securitize and Circle, marking a transformative shift in venture capital.
- The upgrades highlight BCAP’s leadership in democratizing access to venture capital investments.
Blockchain Capital (BCAP), a prominent venture firm in the blockchain sector, has announced significant upgrades to its tokenized venture fund. These enhancements highlight the firm’s dedication to decentralization and efficiency in venture capital investing.
The fund will now offer dividend payments to investors and will fully migrate to ZKsync, a leading Ethereum scaling solution. As part of this upgrade, BCAP will distribute $0.25 per token in USDC to the fund’s token holders. The dividend payout is scheduled for January 28, 2025, representing a 25% return on the original purchase price of $1 per fund token from the initial token offering in April 2017.
Migration to ZKsync: A Strategic Move
The migration to ZKsync, supported by BCAP portfolio companies Securitize, Circle, and Matter Labs, marks a significant advancement for investors. This transition is expected to provide faster transactions, significantly reduced fees, and anticipated dividend payouts.
ZKsync utilizes zero-knowledge proof technology to maintain Ethereum’s security while enhancing transaction speed and reducing costs. This makes it an ideal platform for companies aiming to bring tokenized assets to both institutional and mainstream audiences.
Alex Gluchowski, Co-Founder of ZKsync, noted that tokenized funds represent a transformative shift in venture capital by offering accessibility, transparency, and efficiency to a broader range of investors. He emphasized that the migration to ZKsync will allow investors to benefit from secure and faster transactions with lower fees.
Impact on the Venture Capital Landscape
Since its initial token offering in April 2017, the fund has attracted over 850 investors from 80 countries, with investment amounts ranging from $10 to nearly $1 million. This fund has disrupted the venture capital industry by enabling accredited and non-US investors to participate with flexible capital commitments.
Carlos Domingo, Co-Founder and CEO of Securitize, highlighted Blockchain Capital’s pioneering role in the digital asset ecosystem. He stated that the latest upgrades demonstrate BCAP’s leadership in opening new opportunities for issuers and investors.
Brad Stephens, Co-Founder of BCAP, expressed pride in the progress of the tokenized fund and the delivery of the first dividend. He emphasized that the upgrade to ZKsync is not only about enhancing efficiency but also about collaborating with portfolio companies to redefine possibilities in the venture capital space.
The migration to ZKsync furthers BCAP’s commitment to innovation and efficiency in venture capital, building on the fund’s achievements and its role in democratizing access to venture capital investments.
For more details, the announcement can be found here.
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