Crypto VC C1 With Coinbase Lineage Eyes Acquisition in Australia: Report
Summary
Crypto venture capital firm C1, led by former Coinbase executives, is offering to buy private holdings from cryptocurrency investors in Australia at a discount of 50% to 80% on their last valuation. The firm has reached out to gaming and metaverse-focused venture capital firm Animoca Brands and blockchain analysis entity Chainalysis, among others. Australia has been cautious towards the crypto industry, but sentiment may be changing. C1's strategy, outlined in a pitch deck, involves seeking entities with a minimum valuation of $300 million in their last funding round and writing checks between $20 million and $50 million. Both Animoca and Chainalysis have not responded to requests for comment.
