Blockchain Capital

Blockchain Capital (BCAP) is a security token issued on Ethereum and associated with Blockchain Capital, a venture capital firm that invests in blockchain and crypto startups. The token represents an indirect economic interest in the fund called Blockchain Capital III Digital Liquid Venture Fund and was issued by Blockchain Capital TokenHub. BCAP was launched in 2017 as an early application of tokenizing venture capital fund interests.

Whereas interests in traditional venture capital funds cannot be transferred for long periods, BCAP aims to turn such a fund interest into a token that can be transferred on a blockchain. The token's value is linked to the net asset value and performance of the fund's portfolio of early-stage blockchain companies. Because it is a security, trading and holding BCAP are subject to investor eligibility rules.

The value of BCAP depends on the valuations of the companies in the fund's portfolio, whether these companies are turned into cash through public offerings or acquisitions, the general course of the crypto market and regulations on security tokens. As trading volume may be limited, the DefiLlama-sourced US dollar reference price and chart shown on Lzzo.com should be read in this context.