C1 Fund Boosts Portfolio with Polymarket, Repurchases Shares Amid Market Volatility — C1 Fund Inc.

Event summary

C1 Fund's NAV stood at $42.6M ($6.49 per share) as of June 30, 2026, with portfolio investments at fair value representing 77.5% of net assets.
The fund repurchased 249,300 shares (~$824K) through July 31, 2026, under a $3M buyback program approved in January 2026.
Added Polymarket to its portfolio, increasing holdings in several companies first invested in during 2025.
Top holdings include Ripple Labs (17.5% of net assets) and Payward (16.9%), with two portfolio companies (Kraken, Blockchain.com) pursuing IPOs.
BitGo's clients grew 26% YoY to 5,833, while Kraken's funded accounts increased 42% to 6.6M.

The big picture

C1 Fund's strategic focus on late-stage digital asset infrastructure remains intact, despite market volatility affecting fair values. The fund's disciplined approach to secondary market investments and share repurchases highlights its commitment to creating shareholder value through multiple pathways. The convergence of AI-driven commerce and digital asset services presents an emerging demand source for the fund's portfolio companies, reinforcing its long-term investment thesis.

What we're watching

Portfolio Diversification: How the addition of Polymarket and increased positions in existing holdings will impact the fund's risk-return profile amid weaker secondary market pricing.
Liquidity Pathways: Whether the potential IPOs of Kraken and Blockchain.com will provide meaningful liquidity opportunities for C1 Fund shareholders.
Market Conditions: The pace at which C1 Fund can continue share repurchases under its $3M authorization, given current market conditions and SEC rules.