Nas’ investment firm, QueensBridge Venture Partners, entered Coinbase’s Series B round, back in 2013, when the cryptocurrency exchange platform was valued at around $143 million. Once the company is listed on the Nasdaq it’s estimated to reach a valuation of over $100 billion. The early investment by Nas is expected to profit big time.
QueensBridge made early-stage investments between $100,000 and $500,000, according to co-founder Anthony Saleh. After dividing that investment range by Coinbase’s Series B share price from that time, Coindesk estimates that QueensBridge could now own 99,329 shares on the low end or 496,642 on the high end, which would give the firm between $34.76 million and $173.8 million worth of shares, according to Yahoo.
Coinbase’s debut on the Nasdaq on April 14 at the $100 billion valuation “will mark the first official juncture between the traditional financial avenue and the alternative crypto path,” according to Swissquote senior analyst Ipek Ozkardeskaya.