C1 Fund Inc. (NYSE: CFND) ("C1 Fund" or the "Fund"), a publicly traded closed-end fund providing investors with exposure to a curated portfolio of private late stage digital asset services and technology companies, today released its financial results, including net asset value ("NAV"), for the second quarter ended June 30, 2026.

C1 Fund had 6,568,348 shares outstanding.
C1 Fund's NAV was $42,625,013, or $6.49 per share.
Portfolio investments at fair value were $33,067,058, representing approximately 77.5% of net assets.
Short-term U.S. Treasury investments were $9.96 million, representing 23.3% of net assets.
Total investments at fair value were $43,031,199, reflecting net unrealized depreciation on investments of $53,311,989.
The Fund held investments in eleven portfolio companies, compared with seven at December 31, 2025.

Operational Highlights and Strategic Progress

Through July 31, 2026, C1 Fund repurchased and retired 249,300 shares of its common stock at an aggregate cost of $824,440 under its buyback program approved by the Board of Directors on January 29, 2026. The Fund is currently authorized to repurchase up to $3,000,000 of its common stock, subject to market conditions and SEC rules.
As of June 30, 2026, the portfolio included eleven companies: Alchemy, BitGo, Blockchain.com, Chainalysis, ConsenSys, Figment, Fireblocks, Kraken (Payward, Inc.), Polymarket (Blockratize Inc.), Ripple Labs Inc., and Uphold. In keeping with its mandate, C1 Fund's portfolio investments remain focused on digital asset services and technology.
During the second quarter of 2026, C1 Fund added Polymarket (Blockratize Inc.), a leading decentralized prediction market platform that enables users to trade on the outcomes of real-world events, and increased positions in several of the companies in which the Fund first invested in 2025.
C1 Fund's two largest portfolio exposures are Ripple Labs Inc. (17.5% of the Company's net assets as of June 30, 2026), a global blockchain infrastructure company focused on cross-border payments and digital asset solutions, and Payward, Inc. (16.9% of the Company's net assets as of June 30, 2026), the parent company and unified financial infrastructure platform behind Kraken, one of the world's largest digital asset exchanges serving retail, institutional, and enterprise clients.
Two portfolio companies, Kraken and Blockchain.com, have publicly announced confidential submissions for potential initial public offerings with the U.S. Securities and Exchange Commission. BitGo, Inc. completed its initial public offering in January 2026. An early partial issuer buyback by Ripple Labs Inc. generated approximately a 150% return to the Fund in just over four months.
Investments continue to be selected from the C1 30, C1 Fund's defined universe of leading companies in digital asset services and technology, based on availability in secondary markets and expected return potential.

Chief Investment Officer Elliot Han commented, "Our investment discipline remains consistent: acquire secondary shares in larger, late stage companies from the C1 30 when access is available and pricing offers compelling return potential. As of June 30, our eleven company portfolio represented approximately 77.5% of net assets and spanned payments, custody, compliance, staking, exchanges, development infrastructure, and prediction markets. Weaker secondary market pricing affected quarter end fair values, but selected portfolio companies continued to report customer growth. BitGo's clients on platform increased 26% year over year to 5,833, and Payward's (Kraken's) funded accounts increased 42% to 6.6 million. We believe this divergence reinforces the importance of evaluating both market based fair values and underlying business performance as we manage the portfolio and pursue liquidity opportunities."

CFND) Announces Second Quarter 2026 Results, Adds Polymarket to Portfolio, and Repurchases ~$824,000 of Shares