C1 Fund Offers to Buy Shares of Animoca Brands and Chainalysis

According to The Australian Financial Review, C1 Fund has begun negotiations with several Australian cryptocurrency companies about buying back their shares at a discount of 50-80% compared to the final valuation.

Crypto VC C1 Fund has offered to buy shares at a 50% to 80% discount from the last valuation, targeting crypto companies with valuations of at least $300 million, such as Animoca Brands, Chainalysis and others.https://t.co/0HovA1Pz53

— Wu Blockchain (@WuBlockchain) December 11, 2023

The fund plans to spend up to $500 million on this strategy and is especially interested in companies with valuations of at least $300 million. The companies are mainly at Series C funding stage or higher to invest between 20-50 million USD.

Animoca Brands is a company specializing in the GameFi field. This company is within the C1 targets. This fund has proposed to buy Animoca shares at a price of 0.73 USD/share, a 75% reduction compared to the most recent valuation of 2.95 USD.

https://www.c1fund.com/

In addition, C1 Fund is also interested in blockchain analysis company Chainalysis. Chainalysis has been valued at $8.6 billion by 2022. As expected, C1 will spend 30 million USD to buy Chainalysis shares at a 65% discount from 15 USD.

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C1 is headquartered in Silicon Valley and the United Arab Emirates. This fund was founded by former Coinbase lawyers and investors. C1’s stock purchase plan was announced in March and intends to invest in many areas. Especially blockchain, crypto, web3 and fintech companies.

Currently, all three companies have not commented on C1’s proposal to buy shares.