Valentus Capital, a private equity investment firm based in the U.S., is planning to raise $50 million for its first fund via a token sale.
The token offering is expected to occur later this year or early next year, Reuters reported Wednesday. The token VAL1 would allow investors to buy a stake in Valentus Credit Opportunities Fund I. The fund would target a total raise of $250 million and tokenize only a part of it.
Valentus is partnering with blockchain startup Realio for the token offering. The minimum investment would be $10,000 instead of millions of dollars that traditional private equity transactions require.
Valentus was launched in March and aims to register as a private equity firm with the U.S. Securities and Exchange Commission. The firm would invest in assets such as mortgage securities and distressed debt.