KR1 plc Starry Night Capital

 
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                                                 [phone] 
George McDonaugh 
Keld van Schreven 
 
Peterhouse Capital Limited (AQSE Corporate              [phone] 
Adviser) 
Mark Anwyl 
 
FTI Consulting LLP (PR Adviser)                         [phone] 
Ed Berry                                              [e-mail] 
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 
 
 

(END) Dow Jones Newswires

February 03, 2022 10:18 ET (15:18 GMT)