Blockchain Capital

Blockchain Capital receives a B- risk grade (32/100) from Hindenrank, where lower scores indicate lower risk. Moderate risk — long track record and institutional tokenization infrastructure, but constrained by illiquid underlying assets and restricted secondary market. Blockchain Capital (BCAP) is a pioneering tokenized venture capital fund launched in 2017 via Securitize, representing shares in a $203M digital liquid venture portfolio focused on blockchain investments. As one of the first security tokens, its B grade reflects the fund's long track record (7+ years) and institutional-grade infrastructure via Securitize, balanced against the illiquidity of both the underlying venture portfolio and the restricted secondary market for BCAP tokens, plus single-oracle dependency through RedStone on ZKsync Era for DeFi price feeds.

The key risks identified for Blockchain Capital are: (1) BCAP represents a venture capital portfolio of illiquid blockchain startup investments. NAV is determined by periodic fund valuations rather than real-time market prices, meaning the token price may not reflect rapid changes in actual portfolio value. (2) As a security token, BCAP can only be traded among qualified investors on Securitize's compliant marketplace. This severely limits secondary market liquidity compared to standard DeFi tokens, and holders may face difficulty exiting positions during market stress. (3) The RedStone oracle price feed on ZKsync Era is the only DeFi-accessible price source for BCAP. If this feed is delayed or inaccurate, DeFi protocols using BCAP as collateral could face bad debt from stale pricing. (4) BCAP is a closed-end fund with no direct redemption rights. Holders cannot redeem tokens for underlying fund assets and must rely entirely on secondary market sales for liquidity.

Blockchain Capital scores 32/100 across eight risk dimensions: Mechanism Novelty: 0/15, Interaction Severity: 3/20, Oracle Surface: 5/10, Documentation Gaps: 4/10, Track Record: 3/15, Scale Exposure: 7/10, Regulatory Risk: 6/10, Vitality Risk: 4/10. The highest risk area is Scale Exposure at 7/10.

Among 73 rated RWA protocols on Hindenrank, Blockchain Capital ranks #18 by safety (lowest risk score = safest). Its 32/100 risk score and B- grade place it among the safer RWA protocols.

Blockchain Capital scores 3/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.