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Decentralised VC funds and introducing XFund


About a month ago I came across Bitclout, and I loved the underlying concept. It’s ballsy, will it work? — time will tell, but I'm optimistic given the VC backing and the recent surge of usage. I think Bitclout as a thesis is moving towards the right direction. Decentralised Social Media networks will be the next thing and allowing users to own their own social equity and monetise that is the future.


Last year I started a venture studio called Khoob. The idea was to build and invest in interesting Indian companies. Think a Betaworks / Expa for India. Thus far we have made 4 investments, and are building 5 companies. At Khoob I’m the solo GP, no LPs — so plenty of room to experiment.


Currently Bitclout is aiming at helping individuals productise themselves through creator coins. Individuals are brands, so why not an actual brand? The VC (venture capital) is space is also undergoing a metamorphosis, few quick examples below.


XFund


I decided to setup up an experimental fund a month ago on Bitclout. The feedback has been incredible and today we are formalising it as XFund. XFund Bitclout profile

The aim of this experimental fund is to test the following:

1). Whether we can decentralise XFund as a fund and bring on (micro)LPs in a radically different way, through our creator coins vs. equity.

2). Whether our Xfund coin holders are incentivised enough to become megaphones for our investments / companies, thus serving as a distributed "influencer".


Some FAQS


How will XFund Work?

We will be using 10% of all proceeds from Khoob to buy Xfund coins on a quarterly basis.


How does Khoob earn it's proceeds?

1). Dividends from investments / companies we have built. (Revenue Sharing)

2). Carry from liquidation events. (M&A, Secondary Sales).


Will XFund buy coins at the end of each quarter?

Yes. And with it will be a detailed report that will be sent to all XFund coin holders.


As a XFund coin holder will I own any equity in the fund?

No. You will simply own the XFund coins you have purchased. If quarter over quarter Khoob does well, we buy more Xfund coins and the price of the coin will naturally go up.


Will XFund be taking any fees?

The fee will simply be the 10% default founder coin reward that Bitclout has set up.


Is there a lock-in period for Xfund?

Yes. For 2021 we will not be selling any Xfund coins. Starting 2022 we will start selling some XFund coins to recycle back into Khoob for investments.


As a Xfund coin holder what additional information will I be receiving?

For our coin holders (currently all holders), we will be adding them to a private substack where they will be getting inside access to investments, companies, news and financials.


As a Xfund coin holder what are my expectations?

  • Enjoy your ROI :)
  • Spread the word regarding XFund
  • Become a champion of our investments / companies (growth of each will proportionally effect quarterly results, thus coin price)


What happens if Bitclout shuts down?

This experiment is built on Bitclout. Personally I don't think Bitclout is going anywhere due to the current VC backing and general momentum it has. If in case it does get to the verge of shutting down, we will allow our XFund coin holders to liquidate their coin holdings first prior to us liquidating our holdings.


How can I purchase Xfund coins?

You will need to create an account on Bitclout. Once you have created the account you will need to purchase $Bitclout using BTC. Using the Bitclout coins you can purchase Xfund coins here.


Any other questions?

Feel free to email us at [email protected]


PS: Should be a fun ride, looking forward to having as many of you onboard.

Nav Chatterji






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