KR1

current price 161 GBX

NAV at the end of 2020 = 37866475 GBP/137384138 = 28.97 GBX

PB ratio = 5.557

Major holdings at the end of 2020

1. DOT: 61%
2. ATOM: 14%
3. ETH: 7.6%
4. NXM: 5.54%
5. KSM: 5.5%

If we consider the crypto price growth in 2021 and the options exercised, the NAV would be 32.1.

PB ratio would be 5.

One could view their current holdings at

https://kr1.io/investments/

Thoughts:

1. Very expensive. Basically, one could think that all digital asset potential has been priced in. Besides, investors could buy those tokens by themselves.
2. Managers bet on DOT heavily. However, crypto world changes so fast. Lots of innovation occurs everyday. It might not be a smart move to bet on a 2017 platform. (ETH might be an exception since it is the first crypto 2.0)
3. IMHO, VC model might be the preferable way instead of concentrated bets for crypto investing.