iCapital Ventures Fund
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Institutional • Tokenized • Collateralized Luxembourg SOPARFI Fund

A Data-Driven, LiorS Collateral, Asset-Backed Pledging at the intersection of decentralized banking and real-world assets.

iCapital Ventures Fund (iCV Fund) offers a dual-return profile: a secured 8% targeted annual yield on OPEX operations and long-term equity upside through CAPEX investments and a defined pre-IPO / IPO roadmap. Capital is protected by a multi-layer guarantee architecture including cash collateral and physical gold reserves.

60% OPEX – short-duration, fully collateralized
40% CAPEX – equity stakes up to 51%
Backed by physical gold & LiorS collateral
Priority right for 2027 pre-IPO, IPO 2028
Target investors: Family offices, HNWIs, UHNWIs, institutional partners.
About iCapital Ventures Fund

From community investing to a regulated decentralized bank

iCapital Ventures (iCV) evolved from a community investment federation (2008) into a fully licensed Canadian MSB and non-custodial decentralized investment bank. The iCV Fund is the institutional backbone of this ecosystem, mobilizing capital to finance the real economy with institutional-grade security and governance.

Over nearly two decades, the group has built a complete value-creation ecosystem across 12 interconnected subsidiaries: from 360° digital due diligence and treasury optimization to tokenized fundraising and secondary markets. The iCV Fund is structured as a Luxembourg SOPARFI vehicle, connecting international investors to a curated pipeline of governance-certified SMEs operating across 50+ countries.

Capital preservation is prioritized through a multi-layered guarantee model: physical gold stocks via LiorTrust, cash collateral in the LiorS governance currency, and the “Golden Share” – a 1% strategic equity position and board veto in every financed entity to secure governance and alignment.

Canadian MSB license Luxembourg SOPARFI fund Decentralized, non-custodial Tokenized OPEX / CAPEX Gold-backed guarantee layer

Institutional pedigree

Recognitions from global institutions such as UNESCO and leading international bodies, and an IPO process steered by RSM Europe.

Impact & inclusion

A financing model that blends yield, governance and financial inclusion, supporting SMEs and sustainable development across multiple regions.

Global footprint

Operational in 50+ countries with a growing G25 network of local governance boards of certified non-executive directors.

End-to-end infrastructure

Integrated platforms: LiorBank (OPEX+), iCapitalior (OPEX++), LiorCapital (CAPEX), LiorTrust (guarantee fund), and more.

Investment Strategy

Balanced allocation between secured yield and equity upside

The iCV Fund deploys capital into two complementary tranches: OPEX to deliver stable, collateralized yield and CAPEX to capture long-term, majority equity positions in high-performing SMEs.

OPEX Tranche

Short-term, fully collateralized operations

60% of the fund
  • Finances working capital: inventory, logistics, salaries, cash flow.
  • Structured as secured debt with rapid turnover.
  • 100% collateralized via LiorS digital cash and underlying assets.
  • Targeted 8% annual yield, with operations executed through LiorBank (OPEX+) and iCapitalior (OPEX++).
  • Each operation includes a 1% equity participation booked as shareholders’ current account, optimizing both accounting and incentives.
CAPEX Tranche

Strategic equity and long-term value creation

40% of the fund
  • Majority equity stakes (up to 51%) in governance-certified SMEs with strong growth trajectories.
  • Average equity ROI targeted at ×4 – ×7 over 4–5 years, with exits via iCapitalior and external exchanges.
  • Full digital lifecycle: equity acquisition, cap table management and governance integration via LiorCapital.
  • CAPEX allocations aligned with sustainability and SDG-driven projects across key sectors (infrastructure, renewable energy, fintech, industry, etc.).
Key Metrics

Designed for institutional risk-return standards

Target Annual Yield (OPEX)
8%
Secured short-duration operations, fully collateralized.
Equity ROI (CAPEX)
×4 – ×7
Over a 4–5-year investment cycle.
Geographic Coverage
50+
Countries via the NED-G25 governance network.
Fund Size Ambition
€375M
Cumulative target 2025–2028, with scaling corporate portfolio.
Data-Driven Financing Model

When governance & data become collateral

The proprietary DDFM (Data-Driven Financing Model) transforms how companies access capital: financing capacity is tied directly to governance quality, data reliability and real-time performance, certified across the group’s platforms and expert committees.

  • Algorithmic transparency. Financing limits are linked to governance ratings and certified data, replacing traditional credit scoring with continuous, data-driven assessment.
  • Real-time audit. iCapitalior and LiorLink perform ongoing digital audits across financial, operational and governance metrics, eliminating information asymmetry.
  • Multi-layer guarantees. Governance & legal modeling (Golden Share 1–51%), intangible guarantee (certified financial and non-financial data) and material guarantee (LiorS cash collateral and physical gold).
  • Smart-contract execution. Tokenized OPEX and CAPEX operations are executed via smart contracts, ensuring traceability, automated reporting and reduced operational risk.

Four independent levels of certification

Every financing decision is validated through a structured chain of expert committees and digital infrastructure:

NED-G25 boards (per country) Due diligence college (legal, tax, financial) Investor community oversight Fund investment committee

Data flows across LiorBank, LiorCapital, iCapitalior and Liorium, creating a unified risk engine for both OPEX and CAPEX financing. For investors, this means an institutional-grade view on portfolio risk and performance, automated into monthly reporting.

Liquidity Roadmap

From fund subscription to triple-venue IPO

The iCV Fund is anchored in a clearly defined path to liquidity: investors benefit from a priority right into the holding company ahead of a 2028 listing across three complementary markets.

  • 2025 – 2026
    Fund ramp-up & portfolio expansion
    Progressive deployment across OPEX and CAPEX campaigns for labeled companies, scaling towards several hundred corporates financed on the iCapitalior neo-exchange.
  • 2027
    Priority pre-IPO access for iCV Fund investors
    Fund investors receive a priority right of first refusal to invest in the holding company ahead of the public listing, up to a dedicated allocation of the equity, with valuation work supported by RSM Europe.
  • 2028
    IPO on TSX, Bitfinex Securities & iCapitalior
    iCapital Ventures targets a triple-venue listing: the Toronto Stock Exchange (TSX) for institutional North American investors, Bitfinex Securities for tokenized securities, and its own iCapitalior digital exchange for continuous data-driven valuation.
  • Beyond
    Scaling a hybrid, data-driven financial ecosystem
    Post-IPO, the group continues to expand its ecosystem, governance network, and portfolio of financed companies, while the iCV Fund remains the backbone for OPEX / CAPEX deployment and investor access to yield and equity.
Governance & Team

A multi-continent team of bankers, founders & governance experts

The iCV Fund is managed by a seasoned team with decades of experience in private banking, corporate finance, technology and development finance, supported by a network of non-executive directors and specialized advisors.

Achille Agbe
Founder & CEO, iCapital Ventures
Achille Agbe

Architect of the iCapital Ventures ecosystem and the Data-Driven Financing Model, with a track record in decentralized finance, financial inclusion and international economic diplomacy.

Christophe Rencien
Director, iCV Fund
Christophe Rencien

Senior finance executive with extensive experience in structuring cross-border investment vehicles and governance frameworks.

Vincent Derudder
Vice President iCV Fund
Vincent Derudder

Senior investment professional with extensive experience in fund management and institutional investment strategies. Specializes in portfolio construction, risk management, and optimizing returns across OPEX and CAPEX allocations in decentralized finance ecosystems.

Olivier Collombin
Investment Director, iCV Fund
Olivier Collombin

20+ years in private banking and international investment, connecting family offices and institutional investors to high-growth opportunities worldwide.

Pascal Djereke
Vice Director, iCV Fund
Pascal Djereke

Specialist in strategic finance and technology-enabled inclusion, orchestrating OPEX / CAPEX financing across the group’s platforms.

Stefan Nalletamby
LPs & VCs Director
Stefan Nalletamby

35+ years across development finance institutions, leading large-scale investment programs focused on sustainable economic development.

Dr. Ish Anand
Director iCapitalior
Dr. Ish Anand

30+ years of work experience in Corporates, the Startup Ecosystem and as an Entrepreneur across 5 continents. Deeply involved in the SME/MSME, Startup, Digital Transformation, Advisory, Financial Services & Academic Space.

Dr. Ajay Sharma
LiorTrust Director
Dr. Ajay Sharma

Seasoned global business leader, investor, and growth strategist with 30+ years in energy transition, digital transformation, and innovation-led growth. Proven track record of transforming startups and enterprises into scalable, sustainable global powerhouses.

Benita Sarr
Lawyer & Tax Expert
Benita Sarr

15+ years' experience as a lawyer and currently managing partner at Beniking Avocats, specializing in international and African taxation. Advises legal entities in business and tax law, particularly in crypto-investments and cross-border transactions.

Felix Bright
Director LiorBank
Felix Bright

Over 30 years' experience in the banking sector, formerly as a director at Ecobank in Ghana. Expert in finance, business analysis and investment, with specialization in supporting Agritech, Fintech, Databank, and Marketplace companies across Africa.

Emmanuel Amani
Executive Director
Emmanuel Amani

Executive Director of EiC Corporation, playing a key role in promoting inclusive finance and sustainable development. Leads implementation initiatives, ensuring business objectives are aligned with social missions and impact-driven outcomes across multiple regions.

Yekan Gue
Private Law Expert
Yekan Gue

10+ years' experience as a lawyer in France and the OHADA region (Africa). Advises and defends a wide range of public and private clients during incorporation, administration, and management phases, specializing in cross-border legal structures and regulatory compliance.

Ready to explore an allocation to iCV Fund?

Share your profile (family office, institutional, corporate treasury or qualified individual) and desired ticket size. Our team will connect you to the full fund documentation, KYC/AML process and indicative allocation timeline.

Email the Fund Team Visit Group Website
Indicative terms
• Face value: €100,000 per fund unit
• Target annual ROI: 8% OPEX yield
• Equity participation: 1–51% at portfolio level
• Monthly digital reporting via integrated platforms