KR1 plc Starry Night Capital
04 February 2022 - 2:18AM
UK Regulatory
TIDMKR1
3 February 2022
KR1 PLC
("KR1" or the "Company")
Investment: Starry Night Capital
KR1 plc (KR1:AQSE), a leading digital asset investment company, is pleased to
announce that the Company has invested a total of US$5,000,000 into Starry
Night Capital ("Starry Night").
Starry Night is a specialised investment fund dedicated to assembling a
collection of high-profile non-fungible tokens ("NFT"). The fund was launched
by Three Arrows Capital's Su Zhu and Kyle Davies alongside pseudonymous NFT
collector 'Vincent Van Dough'. To date, key assets held in Starry Night's
portfolio include the first authorised 'Pepe the Frog' NFT by creator Matt
Furie, prominent artworks by XCOPY, a Beeple TIME Magazine cover and NFTs from
Tyler Hobbs' Fidenza algorithm.
The investment was executed through a subscription to 5,000,000 securities
designated as "Class Starry Night Shares of US$1.00 each for November 2021" in
Three Arrows Fund Ltd., which is managed by ThreeAC Ltd., a member of the
Three Arrows Capital group.
Three Arrows Capital was founded in 2012, initially trading traditional
currencies in emerging markets, but has been focusing on investments into
digital assets and the crypto markets for many years.
George McDonaugh, Managing Director and Co-Founder of KR1, commented:
"The investment in Starry Night provides KR1 and its shareholders the best
possible exposure to the booming but still nascent NFT market category.
Successful investing into this fast moving and creative ecosystem requires
highly specialised knowledge, making it the right move to partner with the
outstanding Starry Night team. As NFTs continue to grow, both, in cultural
significance and as a recognised asset class by legacy institutions, we are
confident that our participation in the Starry Night fund is going to deliver
great returns over time."
Janos Berghorn, Head of Research of KR1, commented:
"Analogous to underlying 'native' digital assets of decentralised networks,
prominent NFTs from respected artists such as XCOPY, Beeple, Tyler Hobbs and
others present equivalent opportunities. As a first-mover and with an
influential network, Starry Night Capital is positioning itself as one of the
category defining participants in the NFT sector."
The Directors of KR1 plc accept responsibility for this announcement.
--ENDS--
For further information please contact:
KR1 PLC +44 (0)1624 630 630
George McDonaugh
Keld van Schreven
Peterhouse Capital Limited (AQSE Corporate +44 (0)20 7469 0930
Adviser)
Mark Anwyl
FTI Consulting LLP (PR Adviser) +44 (0)7711 387 085
Ed Berry KR1@fticonsulting.com
Laura Ewart
About KR1 plc
KR1 plc is a leading digital asset investment company supporting early-stage
decentralised and open source blockchain projects. Founded in 2016 and publicly
traded in London on the AQSE Growth Market (KR1:AQSE), KR1 has one of the
longest and most successful track records of investment in the digital assets
space by investing in decentralised platforms and protocols that are emerging
to form new financial and internet infrastructures.
www.KR1.io
END
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