50T represents the culmination of five years of digital asset investment excellence and a new macro thesis: that the DAE will grow to $50 Trillion in token + equity value by 2035. 50T Funds manages four funds originated under the 10T and 1RT names (now 50T Funds I-IV) along with Fund V.
Fund V expands on 50T's growth-equity investment focus, expanding the portfolio strategy to align with the evolution of the digital asset ecosystem; includes growth equity, secondaries, late-stage protocols, distressed, and special situations.
Crypto exchange Gemini completes IPO, selling 15.1 million shares at $28 per share (above target of $24-$26), valuing the company at $3.8Bn.
Blockchain lender and RWA company Figure successfully completes upsized IPO, selling 31.5 million shares at $25 each (above previously targeted 26M shares at $20-$22), valuing the company at $5.3Bn.
1RT Acquisition completes SPAC IPO, listing on Nasdaq under the symbol ONCHU. Cantor Fitzgerald will act as the sole bookrunner on the deal.
Stablecoin issuer Circle completes IPO, raising over $1Bn with a target price of $31 per share, valuing the company at $6.8Bn. Shares closed at ~$83, a 168% increase and implied $18Bn valuation.
Trading platform eToro completes IPO, selling nearly 6 million shares at $52, raising $310MM and valuing the company at $4.2Bn.
Coinbase acquired Deribit, the dominant crypto options and derivatives platform, in a $2.9Bn cash and stock deal, the largest M&A transaction in crypto markets history. COIN shares jumped 5.7% following the announcement.
Fund IV launch expands 50T investment focus, capitalizing on price dislocation in secondary equities following crypto bear market in '22-'23 along with credit and operating opportunities.
Fund III launches, supporting continued expansion across the digital asset ecosystem.
Bitcoin mining operator Cipher Mining completes merger with Good Works Acquisition Corp, raising $425 million in PIPE proceeds at $10.00 per share (led by Fidelity and Counterpoint Global), valuing the company at an enterprise value of $2.0Bn.
Fund II launches as expansion to Fund I following the immediate appreciation of its initial investments within weeks of first close. Fund I closed to prevent dilution of existing LPs.
Origination of growth-equity oriented DAE investment strategy: create diversified exposure to growth of crypto and digital assets by owning the leading businesses and congolomerates within various sectors of the ecosystem. Utilize preferred equity and structured ownerships plus board seats to reduce volatity, improve downside protection, and drive alpha.