C1 Fund Inc. said it has deployed approximately $41.3 million across 11 portfolio companies as of June 30, according to a regulatory filing. The closed-end fund, managed by C1 Advisors LLC and listed on the New York Stock Exchange since August 7, 2025, focuses on secondary shares of late-stage private companies within its proprietary C1 30 universe.
The fund’s largest holdings as of June 30 include Ripple Labs Inc., which accounts for 17.49% of net assets, and Payward Inc., the parent company of Kraken, representing 16.92% of net assets. Other portfolio companies span blockchain infrastructure, custody services, trading platforms, and developer tools, including Alchemy, Chainalysis, ConsenSys, and Figment. The fund added four new positions in 2026: Polymarket, Fireblocks, Uphold, and BitGo.
C1 Fund raised $53.3 million in net proceeds from its initial public offering. Its board approved a share repurchase program on January 29, 2026, and by July 23, 2026, the fund had repurchased and retired 249,300 shares at an aggregate cost of $824,440. Ripple’s partial share buyback generated a 141.50% return for the fund on a portion of its investment over a four-month period. Kraken and Blockchain.com have confidentially filed for initial public offerings, the fund noted.
