The Hyperion Fund will display an official NAV which is made up of the following components:
- Equity Investments: Equity investments are initially valued at dollar cost. Should the company conduct subsequent equity rounds at a share price differing to the price paid by Hyperion, the value will be updated. Should no further equity round be conducted, however the financial position of the company has materially changed, a fair value evaluation will be conducted utilizing industry accepted standards to ascertain an updated valuation. At cost, reviewed at meetings of the investment committee and re-evaluated quarterly if applicable.
- Liquidity Pool: This is comprised of liquid assets typically in the form of BTC, ETH, USDT or any other form of currency used to make investments into upcoming projects. These assets will have a live price at the prevailing rates, and fluctuating market value. Live feed.
- Listed Investments: This is made up of all the assets that Hyperion has received through investing in various projects. These assets will be listed on an exchange and therefore have a live fluctuating price and market value. Live feed.
- Unlisted Token Investments: This portion of the fund is comprised of token investments that the Hyperion Fund has made, but that have not yet listed on an exchange. The value of these investments will therefore be carried at cost, which is the USD amount that Hyperion has invested in each project. When each investment lists on an exchange and a market value can be determined, they will be moved into the Listed Investments section. At cost.
- Accruals: This is typically in the form of cash receivables and/or payables due to/from the Fund that have not yet settled. The dollar value of receivables will be added to the NAV and the dollar value of payables will be subtracted. An example of payables is the annual management fee, accrued monthly. Evaluated monthly.
An example is below (as per Q3-20):
- Equity investments account for 89.6%
- The liquidity pool accounts for 5.9%
- Listed investments account for 1.3%
- Accruals account for 3.2%