Multicoin Capital Management, LLC (“Multicoin” or the “Adviser”) provides investment
advisory services to one or more pooled investment vehicles (each a “Fund” and together the
“Funds”) that are exempt from registration under the Investment Company Act of 1940, as
amended (the “1940 Act”), and whose securities are not registered under the Securities Act of
1933, as amended (the “Securities Act”). Multicoin was founded in 2017, and the principal
owners of Multicoin are Tushar Jain and Pyahm “Kyle” Samani (the “Managing Partners”).
Each Fund invests with a focus on the Digital Assets (as defined below) ecosystem, which
includes investments in blockchain assets, blockchain platforms, crypto networks and the equity
or debt securities of companies operating in the Digital Asset economy, as further discussed and
detailed in Item 8 below. The Funds hold investments in equities, debt instruments, derivative
instruments, contract rights and commodities, including Digital Assets, directly, through
intermediate
vehicles, as described below. The Adviser’s advisory services and investment
advice consist of researching, identifying and evaluating investment opportunities, structuring,
negotiating and making investments on behalf of the Funds, managing and monitoring asset
performance and monetizing such investments. Investment advice is provided directly to the
Funds, both open-end and closed-end, and not individually to the investors in a Fund. Services
are provided to a Fund in accordance with the organizational documents of such Fund.
Investment restrictions for a Fund, if any, are established in the organizational or offering
documents of such Fund and/or side letter agreements negotiated with investors in such Fund
(such documents collectively, a Fund’s “Organizational Documents”).
As of December 31, 2023, Multicoin managed approximately $3.808 billion in regulatory assets
under management (“RAUM”)1on a discretionary basis. The Adviser does not manage assets on
a non-discretionary basis.