Structure
Coinstone Capital operates a single consolidated structure in Luxembourg. Coinstone Capital Sàrl acts as general partner of Coinstone Decentralised One SLP and, in that capacity, as its alternative investment fund manager.
The fund was soft redomiciled from the Netherlands to Luxembourg. The transition was administrative and structural: it did not change the fund's investment objective or the composition of its portfolio. The Dutch entities have since been liquidated, and there is no continuing activity in the Netherlands.
Luxembourg is one of Europe's most established fund domiciles, providing an internationally recognised legal and regulatory framework for alternative investment funds.
| Entity | Role | Registration |
|---|---|---|
| Coinstone Capital Sàrl | AIFM & General Partner |
RCS Luxembourg B302635 CSSF A5108 |
| Coinstone Decentralised One SLP | Alternative Investment Fund |
RCS Luxembourg B303072 CSSF V13732 |
Investment Strategy
Coinstone Capital targets early-growth stage companies in the Web 3.0 and blockchain sector, focusing on businesses with validated technology, a clear path to revenue, and a compliance-oriented approach to their market.
The investment thesis is grounded in the view that decentralised technologies will continue to reshape payments, asset management, and financial intermediation across Europe — while regulatory compliance and risk management remain central to the selection criteria.
Web 3.0 & blockchain infrastructure
Investment in the foundational infrastructure of the next generation of financial services — payment rails, tokenisation platforms, custody solutions, and blockchain-native financial services designed for institutional and commercial use.
Compliance-first businesses
Preference for companies that operate within the regulatory framework applicable to them in their jurisdiction and that are capable of scaling responsibly — attracting enterprise clients who require legal and regulatory certainty.
Portfolio synergies & cross-referrals
A deliberate aspect of the approach is building a portfolio whose companies reinforce one another. Payment processors, on/off-ramp services, and compliance infrastructure form a complementary ecosystem — driving cross-referrals, shared distribution, and collective commercial advantage.
Risk-managed approach
The inherent volatility of digital assets is acknowledged and investments are structured to mitigate speculative exposure. The focus is on companies generating real revenue from services — not from holding or speculating on tokens — providing a more defensible risk-return profile.
Due diligence & governance
Each investment is assessed on technology validation, commercial traction, governance, and the regulatory posture of the target. Portfolio companies are monitored on an ongoing basis, with follow-on capital reserved for those demonstrating continued growth and operational scale.
Luxembourg platform
The fund is domiciled in Luxembourg, one of Europe's most established fund jurisdictions, providing an internationally recognised legal framework for alternative investment funds and an operational platform that supports the portfolio across European markets.
Portfolio Companies
Coinstone Capital holds a portfolio of majority-owned Web 3.0 and blockchain companies operating across Europe. Each portfolio company operates within the regulatory framework applicable to it in its jurisdiction, and is focused on delivering real-world blockchain payment solutions to businesses and consumers.
Race CAP AG is a Swiss fintech company offering cryptocurrency payment solutions for businesses. Based in Obwalden and registered under Swiss law, Race CAP is a member of VQF — a recognised financial self-regulatory organisation. Its services span B2B crypto payments, C2B customer crypto checkouts, and B2C mass crypto payouts, designed with a focus on speed, security, and compliance. Race CAP's client base represents a natural distribution channel for other portfolio services, contributing to cross-portfolio commercial synergies.
racecap.ch ↗BitSpider OÜ is an Estonia-based company specialising in cryptocurrency payment solutions for businesses, enabling merchants to accept online payments in Bitcoin, Ethereum, and major ERC-20 tokens. In addition to payment processing, BitSpider provides on-ramp and off-ramp services, allowing corporate clients to convert between fiat currencies and digital assets. BitSpider's registration under the EU Markets in Crypto-Assets Regulation (MiCA) is pending. With low transaction fees, API connectivity, and multi-blockchain support, BitSpider adds geographic diversification to the portfolio and serves as its commercial anchor in Northern Europe.
bitspider.com ↗Fund Status & Regulatory Information
The information below is published for transparency and identification purposes. It is not an offer, an invitation, or marketing material of any kind.
The fund is not accepting subscriptions. It is closed-ended: partners have no right to request the redemption of their interests. Interests are held by professional investors within the meaning of the Law of 12 July 2013 and Directive 2011/61/EU.
Coinstone Capital Sàrl acts as general partner of the partnership and, in that capacity, as its alternative investment fund manager. The partnership does not have recourse to leverage.
- AIFMCoinstone Capital Sàrl — RCS Luxembourg B302635 — CSSF A5108 (A00005108)
- Regulatory statusRegistered and supervised only under Article 3(3) of the Law of 12 July 2013 on alternative investment fund managers. Not authorised by the CSSF.
- AIF management since12 December 2025
- FundCoinstone Decentralised One SLP — RCS Luxembourg B303072 — CSSF V13732
- SubscriptionClosed
- RedemptionClosed-ended — no right of redemption
- LeverageNone
- Eligible investorsProfessional investors only
Sustainability & SFDR Disclosures
The European Commission's Sustainable Finance Action Plan has three objectives: (1) to reorient capital flows towards sustainable investment in order to achieve sustainable and inclusive growth; (2) to manage financial risks stemming from climate change, environmental degradation, and social issues; and (3) to foster transparency and long-termism in financial and economic activity. It is a response to recommendations from the High-Level Expert Group on Sustainable Finance, submitted to the Commission in January 2018.
The European Parliament has adopted an amendment to Regulation 2016/1011 introducing a framework for EU climate transition and EU Paris-aligned benchmarks, an amendment to Delegated Regulation 2017/565 integrating environmental, social, and governance (ESG) considerations into investment advice and portfolio management, and an amendment to Delegated Regulation (EU) 2017/2359 integrating ESG considerations and preferences into investment advice for insurance-based investment products. It has also prepared a series of related measures, including the EU Taxonomy Regulation, benchmarks, an EU green bond standard, and climate-related disclosures.
SFDR, which forms part of a broader legislative package under the Sustainable Finance Action Plan, came into effect on 10 March 2021. To meet the SFDR disclosure requirements, Coinstone Capital Sàrl identifies, assesses and, where possible and appropriate, seeks to manage sustainability risks for Coinstone Decentralised One SLP as part of its risk management process. Coinstone Capital Sàrl believes that the integration of this risk analysis could help to enhance the long-term value of the portfolio for investors, in accordance with the investment objective and investment policy of Coinstone Decentralised One SLP. However, due to the nature of the investment objective, sustainability risks are not integrated into investment decisions.
For the avoidance of doubt, Coinstone Decentralised One SLP does not promote environmental or social characteristics within the meaning of Article 8 of SFDR, nor does it have sustainable investment as its objective within the meaning of Article 9 of SFDR. For the purposes of Article 6 of the EU Taxonomy Regulation, Coinstone Capital Sàrl confirms that the investments underlying this financial product (Coinstone Decentralised One SLP) do not take into account the EU criteria for environmentally sustainable economic activities.
As regards the disclosure obligations under Article 4(1) of SFDR, it is confirmed that Coinstone Capital Sàrl does not consider the principal adverse impacts of investment decisions on sustainability factors, in accordance with Article 4(1)(b).