Nas' Coinbase Investment: Millions Poured In

Nasir Jones, the rapper known as Nas, made a lucrative early investment in Coinbase through his affiliate QueensBridge Venture Partners. In 2013, QueensBridge participated in Coinbase's $25 million Series B funding round when the company was valued at around $143 million. Coinbase's debut on the Nasdaq in 2021 at a $100 billion valuation meant that Nas' early investment paid off, with his stake estimated to be worth at least $40 million.

Nasir Jones' investment firm

Nasir Jones, the rapper more commonly known as Nas, founded the investment firm QueensBridge Venture Partners in 2013. Named after the New York housing project where Jones grew up, the firm typically invests between $100,000 and $500,000 in emerging companies.

In 2013, QueensBridge Venture Partners participated in Coinbase's Series B funding round, investing in the company when it was valued at around $143 million. Coinbase is a cryptocurrency exchange platform. At the time of the investment, shares of Coinbase’s Series B were worth $1.00676, meaning Jones’ firm would have between 99,239 and 496,642 shares.

When Coinbase debuted on the NASDAQ in 2021, its shares were priced at around $415, meaning Jones' shares in the company were worth between $41.2 million and $206 million. This means that Jones' early investment in Coinbase paid off, netting him at least $40 million.

Jones' venture capital portfolio includes investments in over 100 companies, including Casper, Dropbox, FanDuel, Parachute, and Lyft. In 2014, QueensBridge also invested in the smart doorbell company Ring, which was sold to Amazon in 2018 for $1.1 billion. Jones pocketed at least $25 million from this transaction.

Coinbase's Series B round

The round was led by Andreessen Horowitz, with Nasir Jones' QueensBridge Venture Partners also participating as a backer. Jones, better known by his stage name Nas, is a rapper who founded QueensBridge Venture Partners in 2013. The firm typically invests between $100,000 and $500,000, and its stake in Coinbase was within this range, though the exact amount has not been disclosed.

Coinbase shares were valued at $1.00676 each during the Series B round. This means that QueensBridge Venture Partners would have acquired between 99,239 and 496,642 shares, according to CoinDesk. When Coinbase went public and began trading in 2021, its share price reached $415, resulting in a significant increase in the value of QueensBridge's investment.

Other investors who participated in Coinbase's Series B round include Union Square Ventures, IdeaLab Capital Partners, and Emagen Investment Group Inc.

QueensBridge Venture Partners' stake

QueensBridge Venture Partners is an investment firm founded by Nasir Jones, better known as the rapper Nas, in 2013. The firm was an early backer of Coinbase, joining the company's $25 million Series B funding round in 2013. At the time, Coinbase was valued at about $143 million to $150 million.

QueensBridge Venture Partners typically invests between $100,000 and $500,000 in early-stage startups. While the firm did not disclose the exact amount it invested in Coinbase, it is estimated that they acquired between 99,239 and 496,642 shares of the company.

When Coinbase went public and began trading on Nasdaq in April 2021, it was valued at over $100 billion. This surge in valuation meant that QueensBridge Venture Partners' stake in Coinbase was now worth between $41.2 million and $206 million, with the share price reaching $415 just minutes after trading began.

The success of QueensBridge Venture Partners' investment in Coinbase highlights the potential for significant returns in the world of venture capital and early-stage investing. It also demonstrates the growing intersection between the traditional financial world and the alternative crypto path.

Coinbase's IPO

There are some key differences between direct listings and IPOs. IPOs are capital-raising events where investment bankers set a pre-established share price, whereas direct listings do not raise new capital and have no pre-set price. The starting price in a direct listing is influenced by the market on the initial trading day. This can make direct listings more volatile than IPOs in initial trading.

Coinbase's direct listing generated high expectations and much debate about whether the price would "pop" upon the market open. The cryptocurrency exchange company was valued at over USD$100 billion, and the share price reached USD$415 when trading began. This meant that early investors stood to gain a lot. One such investor was rapper Nasir Jones, better known as Nas, who made an early investment in Coinbase through his firm QueensBridge Venture Partners. Nas's shares in Coinbase were estimated to be worth between USD$41.2 million and USD$206 million, a significant increase on his initial investment of between USD$100,000 and USD$500,000.

Coinbase's valuation

Fast forward to 2021, when Coinbase went public and was listed on the Nasdaq, its valuation had skyrocketed to over $100 billion. The share price at the time of Coinbase's public debut reached $415, resulting in Nas' shares in the company being valued between $41.2 million and $206 million. This massive increase in valuation turned Nas' early investment into a substantial windfall, showcasing the potential rewards of investing in emerging companies within the cryptocurrency space.

The success of Coinbase's public listing had a significant impact on the world of venture capital, highlighting the opportunities available for investors who are willing to take risks in nascent industries. It also demonstrated the potential for celebrities to leverage their wealth and influence to make strategic investments, with Nas being joined by other notable figures such as NBA superstar Kevin Durant.

While the exact amount Nas invested in Coinbase remains unconfirmed, it is estimated to be within QueensBridge Venture Partners' typical investment range of $100,000 to $500,000. This early investment by Nas exemplifies the forward-thinking approach to investing that has characterized his venture capital portfolio, which includes successful investments in companies like Dropbox, Lyft, and Ring.

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