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Valinor launches tokenized BDC exposure fund on Ethereum
The Valinor BDC Exposure Fund, ticker VBDC, charges a 1.25% management fee based on average daily NAV and allows daily redemptions capped at 7.5% of NAV.
Valinor Digital launched a tokenized fund that gives eligible investors exposure to a basket of publicly traded business development companies, positioning the product as a way to combine a private credit-like return profile with daily subscriptions and redemptions. Housing the fund as a series of Superstate Asset Trust, the offering is issued on Superstate's FundOS platform and managed by Valinor Digital Capital, according to The Defiant.
The fund, ticker VBDC, is designed to route listed securities through the fund structure between investors and the underlying BDC lending exposure. Valinor links its daily liquidity to the secondary-market trading of public BDCs, noting that these exchange-traded shares effectively replace the longer redemption windows typical of private BDC products, and it also ties the fund's net asset value to those BDC share prices.
Superstate's asset page shows the fund holds about $4.995 million across 499,157 shares, with a net asset value of $10.007174 per share. The minimum investment is $100,000, eligibility is limited to accredited investors who are also qualified purchasers under the Section 3(c)(7) exemption, and the management fee is 1.25% of average daily NAV.
On the blockchain side, the VBDC token contract went live on Ethereum on Sept. 1. The contract is upgradeable, points to a Superstate-named FundToken contract, has a total supply of zero, and has recorded no transfers, with DeFi integrations listed as coming soon on Superstate's disclosures.
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