Toronto, February 20, 2024–(BUSINESS WIRE)–Round 13 Digital Asset Fund (DAF), Canada's only crypto-native fund with a unique open-end structure, announced today that it will close in April 2022 amid challenging market conditions. It announced a profit of over 40% since its inception in May. The fund quickly rose to prominence, consistently outperforming the leading cryptocurrencies BTC by 30% and ETH by 60%.
Round13 DAF has invested in 20 portfolio companies across seed and Series A transactions ranging from $250,000 to $5 million. Its portfolio companies span several key segments of the cryptocurrency market, including AI, gaming, metaverse, identity, and infrastructure. Examples of portfolio companies within these market segments include Wombo, Improbable, confirm, and ChainSafe.
To date, several DAF portfolio companies in Round 13 have raised funding at significantly higher valuations, bucking the down-round funding trend experienced by many startups. Additionally, some of its portfolio companies are token projects and have not returned to the market for further equity funding, so they may launch native tokens this year. DAF also expects further liquidity events from a number of venture transactions to occur over the next three years.
Round13 DAF is a dedicated fund that invests in the emerging blockchain and digital asset market. DAF was founded by Round13 Capital, a Canadian venture and growth stage investment firm co-founded by Bruce Croxon and John Eckert. DAF takes a systematic approach to onboarding new investors on a quarterly basis and differentiates itself through consistent resilience and innovation in the rapidly evolving digital asset space.
“Our approach of engaging both the crypto asset market and venture capital is fundamental to our strategy,” said Satraj Bambra, Managing Partner and CIO of Round13 DAF. “Through this balanced and highly strategic approach, we have been able to successfully navigate a variety of market conditions, including the recent bear market and the domino effect following the collapse of FTX.”
“We invest in companies that are driving mainstream adoption of cryptocurrencies, and these companies are able to survive a multi-year bear market,” said Khaled Verjee, Managing Partner of Round13 DAF. ”. “Our portfolio companies are well-capitalized, have strong teams, and have a clear vision. One example is Wombo, a Toronto-based AI consumer app that has been downloaded over 200 million times. .Wombo now aims to aggregate potential computing power through a decentralized cryptographic network and help onboard “millions of users to flock to this space.'' ”
Future prospects and long-term vision
“As we look forward to the next 12-24 months, our confidence is stronger than ever, especially with the increased institutional adoption of BTC and ETH demonstrated by the recent approval of a Spot Bitcoin ETF in the US. “This pivotal development, coupled with evolving monetary policy and the competitive environment for both modular and single smart contract platforms, lays a solid foundation for growth.” says. “We believe these factors not only signal market maturation, but also set the stage for a dynamic story that will drive industry-wide expansion. This bullish stance reflects these transformative trends. It shows promising horizons for mainstream digital assets, which are rooted in “Finance.'' “
As Round13 DAF continues to evolve, its long-term vision remains focused on being a pioneer in the digital asset space. With a focus on innovation, stability and growth, the fund is poised to set new standards in crypto fund management while contributing meaningfully to the broader financial ecosystem.
“Cryptocurrencies are poised for a monumental moment and we are well-positioned to capture value in the process,” says Vanbrugh. “Our bullish prediction for the market is that BTC will be worth over $150,000 and ETH will be worth over $10,000 over the next two years.”
About Round13 DAF
Round13 Digital Asset Fund (DAF) is Canada's leading crypto-native fund founded by Round13 Capital. Our unique open-ended structure provides investors with the opportunity to participate in the growing digital asset market on a quarterly basis. The fund prides itself on its strategic market insight and ability to navigate complex market conditions. For more information, please visit r13daf.com.
About Round13 Capital
Founded in 2013, Round13 Capital is a leading venture and growth equity investment platform headquartered in Toronto, Canada. The firm invests in high-potential companies across a variety of sectors, with a focus on supporting long-term growth and development. Round13's team of experienced investors and operators bring a wealth of expertise and insight to every investment, helping our portfolio companies realize their full potential. With a mission to build companies that last 100 years, Round13 is dedicated to creating long-term value for its investors and the companies it supports. For more information, please visit Round13.com.
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contact address
media:
Michelle McDermott Fox
Boulevard Public Relations (for Round13 DAF)
michele@boulevardpr.com
