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Valentus Capital Plans $50M Token Raise for Credit Fund: Report
The yet-to-be-registered asset manager hopes to launch its VAL1 token later this year.
A prospective U.S. private equity investments shop called Valentus Capital Management is hoping to raise its first $50 million by tokenizing itself and offering the tokens for sale.
STORY CONTINUES BELOW
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- According to Reuters, the yet-to-be-registered asset manager hopes to sell digital securities called VAL1 that gives its holders a stake in Valentus' planned $250 million credit fund.
- Valentus is pursuing the tokenization and offering with a little-known digital asset outfit called Realio, Reuters said. Realio's CEO Derek Boirun did not immediately provide comment.
- Token sales will fund Valentus' planned investments in distressed debt and mortgage securities, the Reuters article said.
- If the offering goes through late this year or early next, it will be the first time a U.S. private equity fund has successfully tokenized itself for U.S. investors, Valentus investments chief, Behzad Taufiq, told Reuters.
- Valentus did not immediately return CoinDesk requests for comment.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
