NEW YORK – February 24, 2026 – Technology entrepreneur and investor Jayden Wei, founding partner of OGBC Group, today reflected on his role as the first check investor in C1 Fund Inc. (NYSE: CFND), which made history in August 2025 as the first publicly traded closed-end investment fund focused exclusively on private digital assets and blockchain technology companies.
Wei participated as the first check investor in C1 Group LLC, the general partner entity managing C1 Fund, through a SAFE (Simple Agreement for Future Equity) financing round in 2024. As the earliest investor to commit capital to the GP company, Wei's conviction bet on democratizing access to private crypto infrastructure companies came at a time when institutional adoption of digital assets remained nascent and many investors were retreating from the sector.
"When I first met the C1 team in late 2022, I was struck by their thesis: instead of speculating on volatile token prices, they wanted to invest in the picks-and-shovels companies building the infrastructure layer of Web3," Wei said. "This aligned perfectly with my investment philosophy of backing sustainable, revenue-generating businesses rather than chasing speculative narratives."
A Historic Market Debut
On August 7, 2025, C1 Fund began trading on the New York Stock Exchange under ticker symbol CFND, raising $60 million through an initial public offering of 6 million shares priced at $10 each. The milestone marked a watershed moment for the digital assets industry, providing retail investors with regulated access to a curated portfolio of 30 leading private crypto companies—what C1 Fund calls the "C1 Thirty."
Led by an experienced team including Dr. Najam Kidwai (President & CEO), Elliot Han (Chief Investment Officer), and Michael Lempres (Chairman and former Chief Legal Officer of Coinbase), C1 Fund has already demonstrated the viability of its strategy. Within six months of its IPO, the fund announced its first successful portfolio exit when BitGo, a digital asset custody and infrastructure provider, completed its own public listing in January 2026.
"The BitGo exit validated what we believed from day one," Wei noted. "These aren't speculative bets—they're established businesses with real revenue, real customers, and real enterprise adoption. C1 Fund's closed-end structure allows investors to capture value as these companies mature and eventually go public or get acquired."
Bridging Traditional Finance and Digital Assets
C1 Fund's NYSE listing represents more than just another crypto company going public. Unlike direct cryptocurrency investments or token-focused funds, C1 Fund invests exclusively in equity and equity-linked securities of private companies building the infrastructure, services, and applications powering the digital economy.
The fund's portfolio strategy focuses on companies operating across key verticals including blockchain infrastructure, digital asset custody and security, decentralized finance (DeFi) protocols, and enterprise blockchain solutions. Notable investments include Consensys, the Ethereum infrastructure company announced in December 2025, alongside BitGo and other undisclosed portfolio companies.
"What excites me most about C1 Fund is that it mirrors the opportunity early participants had during the growth phases of the internet and AI," Wei explained. "Retail investors typically can't access Series B or Series C rounds of promising crypto infrastructure companies. C1 Fund changes that equation entirely."
From Angel Check to Public Markets
Wei's journey with C1 Fund began in late 2022 when he was introduced to Dr. Kidwai and the founding team through mutual connections in the venture capital ecosystem. At the time, the crypto industry was navigating the aftermath of several high-profile collapses, and institutional appetite for digital assets had cooled considerably.
"The timing seemed contrarian, but that's often when the best opportunities emerge," Wei recalled. "The team had a clear vision, deep domain expertise from their time at Coinbase and other leading crypto companies, and most importantly, they understood that sustainable value creation in this space comes from investing in businesses, not tokens."
Wei's SAFE investment in C1 Group LLC, the Delaware-based entity serving as C1 Fund's investment adviser and general partner, converted into equity upon the fund's successful IPO. As the first investor to write a check to the GP company, Wei's early support provided crucial validation and momentum for subsequent fundraising efforts. The approximately 2.5-year journey from angel investment to public markets listing represents a relatively compressed timeline compared to traditional venture capital exits, which typically require 7-10 years.
"This outcome demonstrates that with the right team, the right strategy, and the right market timing, it's possible to create significant value in a relatively short period," Wei said. "But more importantly, it shows that the digital assets industry is maturing. We're moving from speculation to institutionalization."
A New Asset Class Emerges
C1 Fund's successful debut has broader implications for the intersection of traditional finance and digital assets. The fund's closed-end structure—which does not issue or redeem shares based on investor demand—provides several advantages over open-end mutual funds or ETFs, including the ability to invest in illiquid private companies without worrying about redemption pressures.
The Benchmark Company served as sole book-running manager for the IPO, with SoFi Securities and China Renaissance Securities acting as co-managers. Legal counsel was provided by Dentons, signaling the involvement of top-tier financial and legal institutions in bringing the offering to market.
"C1 Fund's NYSE listing is a proof point that regulators, exchanges, and institutional investors are ready to embrace digital assets through properly structured vehicles," Wei observed. "This isn't about bypassing regulation—it's about working within the system to create compliant, transparent investment products."
Looking Ahead
As C1 Fund continues to deploy capital across its target portfolio of 30 companies, Wei remains optimistic about the fund's long-term prospects and the broader digital assets ecosystem.
"We're still in the early innings of blockchain technology's impact on finance, supply chains, identity systems, and countless other industries," Wei said. "The companies in C1 Fund's portfolio are building the foundational infrastructure that will power the next generation of internet applications. I'm proud to have supported this vision from the beginning."
Wei's investment in C1 Fund represents one of several strategic bets his firm, OGBC Group, has made at the intersection of emerging technologies and traditional finance. The firm's portfolio includes investments in quantum computing (PsiQuantum), artificial intelligence infrastructure, and blockchain-based financial services.
"Our thesis has always been to invest in transformative technologies during their infrastructure-building phase, before mainstream adoption occurs," Wei explained. "C1 Fund's success validates this approach and demonstrates that patient capital, deployed intelligently, can generate exceptional returns while advancing technological progress."
About Jayden Wei
Jayden Wei is the founding partner of OGBC Group, a venture capital firm focused on deep technology investments across quantum computing, artificial intelligence, blockchain infrastructure, and next-generation financial services. Wei's investment portfolio includes early-stage positions in PsiQuantum, C1 Fund, and other leading technology companies. He holds bachelor's and master's degrees from Monash University in Australia and was admitted to the Wharton School Executive MBA program.
About C1 Fund Inc.
C1 Fund Inc. (NYSE: CFND) is a Maryland-based closed-end investment fund providing public market investors with access to a curated portfolio of 30 leading private digital assets services and technology companies globally. The fund is managed by C1 Advisors LLC and led by an experienced team of investment professionals with expertise in digital assets, blockchain technology, venture capital, and capital markets. For more information, visit www.c1fund.com.
Media Contact: OGBC Group Email: [email protected]
Forward-Looking Statements: This press release contains forward-looking statements regarding investment outcomes, market trends, and future developments. Actual results may differ materially. Past performance does not guarantee future results. All investments carry risk, including possible loss of principal.