C1 Fund Inc. (NYSE:CFND) ("C1 Fund" or the "Fund"), a publicly traded closed-end fund providing investors with exposure to high-growth private companies powering the digital asset economy, today released its financial results, including Net Asset Value ("NAV"), for the first quarter ended March 31, 2026.

Financial Highlights

• C1 Fund has 6,666,666 shares outstanding.
• As of March 31, 2026, C1 Fund's NAV was $48,906,337, or $7.34 per share.
• As of quarter-end, portfolio investments at fair value were $34,646,267, representing approximately 71% of net assets.
• Short-term U.S. Treasury investments were $15,049,802.
• Total investments at fair value were $49,696,069 (total cost of $52,651,923), reflecting net unrealized depreciation on investments of $2,955,854.

Operational Highlights and Strategic Progress

• During the first quarter of 2026, C1 Fund added new portfolio positions in BitGo, Fireblocks, Uphold, and Ripple, continuing to rapidly deploy capital into late-stage private digital asset companies.
• BitGo Inc., a digital asset infrastructure company providing the foundation for the digital asset economy, at a price of $2,244,004 and a Fair Valuation (NAV) of $1,033,449 as of March 31, 2026.
• BitGo completed its initial public offering on January 22, 2026, marking C1 Fund's first portfolio company IPO. C1 Fund's shares are subject to a six-month lockup through July 21, 2026.
• Fireblocks Inc., the world's most trusted digital asset and stablecoin infrastructure company, at a price of $1,107,761 and a Fair Valuation (NAV) of $1,107,761 as of March 31, 2026.
• Uphold Inc., a digital wallet and trading platform, at a price of $2,223,583 and a Fair Valuation (NAV) of $2,200,928 as of March 31, 2026.
• Ripple Labs Inc., a leading financial technology company that offers crypto solutions for businesses, at a price of $999,925 and a Fair Valuation (NAV) of $810,750 as of March 31, 2026.
• Subsequent to quarter-end, C1 Fund sold 1,407 Series A Preferred shares of Ripple Labs in a Ripple-sponsored buyback for $422,100, generating an approximate 150% return in less than four months. This marked the Fund's first sale of an investment since its public listing in August 2025.
• As of March 31, 2026, the portfolio included Alchemy, BitGo, Blockchain.com, Chainalysis, ConsenSys, Figment, Fireblocks, Kraken, Ripple, and Uphold, with portfolio investments at fair value of $34.6 million, representing approximately 71% of net assets.
• On January 29, 2026, C1 Fund's Board of Directors approved a stock buyback program of up to $3,000,000, subject to SEC rules, and authorized management to proceed at its discretion.
• Two portfolio companies, Kraken and Blockchain.com, are pursuing public listings. Kraken filed a confidential IPO submission with the U.S. Securities and Exchange Commission, and subsequent to quarter-end, Blockchain.com also filed a confidential IPO submission.

The remainder of C1 Fund's capital was invested in U.S. Treasury securities during the quarter, consistent with C1 Fund's strategy to maintain qualification as a Regulated Investment Company ("RIC") under Subchapter M of the U.S. Internal Revenue Code.

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