Coinbase backers’ crypto fund C1 Fund eyes Australian deals
Crypto venture capital firm C1 Fund is eyeing new deals in Australia as it looks to expand its presence in the region. C1 Fund, established by Coinbase backers and lawyers, is said to be actively seeking undervalued assets in the Australian market, aiming to capitalize on the recent market downturn, according to a report from The Australian Financial Review. The North America-based investment firm has reportedly reached out to several Australian venture firms, offering to buy private holdings from investors at between 50-80% discount on their last valuation. A pitch deck seen by The Australian Financial Review demonstrated C1 Fund’s interest in backing crypto firms with a minimum valuation of $300 million Series C funding round and later. “Due to current market conditions in the public and private markets, hyperinflation and rising interest rates we believe the digital assets market offers very attractive valuations in the secondary market.” C1 Fund’s pi...