C1 Fund Reports Q4 2025 Portfolio Progress and Reaffirms Infrastructure-Led Strategy

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Key Terms

initial public offering financial

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

staking infrastructure technical

Staking infrastructure is the hardware, software and services that let people lock up digital coins to support a blockchain’s operation and earn rewards, including validator nodes, staking pools, wallets and custodial platforms. For investors it matters because the quality of that infrastructure affects how reliably rewards are paid, how secure the staked assets are, and the risk of penalties or downtime—think of it like the combination of a power plant and a vault that runs and protects an income-producing asset.

compliance platforms regulatory

Software systems that help companies follow laws, industry rules and internal policies by automating checks, tracking evidence and alerting staff when issues arise. Think of them as a digital checklist and traffic controller that reduces the chance of costly fines, legal trouble or reputational damage; investors care because stronger compliance lowers regulatory risk, predictable costs and the chance of sudden negative surprises that can hurt a company’s value.

net asset value financial

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

closed-end vehicles financial

Closed-end vehicles are investment funds that raise a fixed amount of capital from investors once and then trade on public markets like shares, rather than continuously selling or redeeming units. Think of them as a fixed-size apartment building whose units can be bought or sold among residents; the number of units doesn’t change, so market price can drift above or below the value of the underlying assets. For investors this matters because prices can trade at a premium or discount to the fund’s assets, affecting potential returns, and liquidity depends on market demand rather than on the fund manager issuing or redeeming shares.

12/16/2025 - 07:00 AM

PALO ALTO, Calif.--(BUSINESS WIRE)-- C1 Fund Inc. today released highlights from its Q4 2025 shareholder update, outlining early capital deployment into foundational digital asset infrastructure companies and reaffirming its strategy of investing in the operating layers that underpin the digital economy.

During the quarter, C1 Fund deployed capital into late-stage private companies including Kraken, Ripple, Chainalysis, Alchemy, Consensys and one company that has filed confidentially for an initial public offering. The fund’s approach centers on owning exchanges, settlement systems, compliance platforms, staking infrastructure and developer tooling rather than participating in short-term market volatility.

“Our focus has been deliberate and disciplined from the outset,” said Dr. Najam Kidwai, Co-Founder and Chief Executive Officer of C1 Fund. “We are building exposure to the infrastructure that enables digital finance to function at scale — regulated, globally integrated operators whose relevance compounds over time.”

C1 Fund was launched to broaden access to late-stage private market opportunities that have historically been limited to institutional investors and high accreditation thresholds. Through its public, liquid structure, the fund provides investors with fractional exposure to companies building the core operating systems of digital finance.

As of year-end, C1 Fund expects to have deployed approximately $30 million across infrastructure-focused investments selected for regulatory maturity, operational resilience and scalability independent of short-term market sentiment.

C1 Fund will release its fully audited NAV on 2^nd March, 2026.

“Infrastructure value is not driven by hype cycles,” added Dr. Kidwai. “It is driven by durability, compliance, and integration into global financial systems. That is where we believe long-term value creation resides.”

The fund noted that, as is common in the early stages of closed-end vehicles, market price may temporarily diverge from intrinsic value as investors familiarize themselves with the product. C1 Fund expects transparency, disciplined execution and consistent reporting to support long-term convergence.

The full Q4 2025 Shareholder Letter is available at www.c1fund.com/financial-info/shareholder-letter

About C1 Fund Inc.

C1 Fund Inc. (NYSE: CFND) is a publicly traded closed-end investment company providing public-market investors with exposure to late-stage digital asset services and technology companies. The Fund is managed by C1 Advisors LLC and is headquartered in Palo Alto, California.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and involve risks and uncertainties that may cause actual results to differ materially. Readers are cautioned not to place undue reliance on these statements, which speak only as of the date hereof. Investing involves risk, including the possible loss of principal.