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.
- 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.