概要
SIPO DRepレビュー支援用の日本語作業訳です。正式な内容はHydra Voting上の英語原文を参照してください。
Bridge Fundは、CIP-113を通じてCardano上でネイティブにトークン化される欧州初の機関投資家向けRWAファンドを目指す提案です。パリのTriangle d'Or周辺の優良不動産を取得し、Fonciere Renaissanceなどと共同投資する構想です。提案者は、RWA市場の普及には高品質な裏付け資産、DeFi内での担保化による流動性、そして機関投資家のRWA需要の高まりが重要だと主張しています。Cardano Treasuryは寄付者ではなくLPとして参加し、目標1億ユーロ規模のファンドの一部を担う設計です。SIPOとしては、RWA・利回り・返済を伴う大型提案であるため、法務、カストディ、資産評価、出口時の返済条件、Treasury保護、Cardano DeFiへの実需波及を重点的に精査する必要があります。
英語原文を表示
Bridge Fund is the first European institutional RWA fund natively tokenized on Cardano via CIP-113. It acquires trophy real estate in the Paris Triangle d'Or (Champs-Élysées, Avenue George V), co-invested with Foncière Renaissance (€1.7Bn AUM, 10 years of value-add track record on these assets). Three convictions guide our thesis: 1. The real estate RWA market will only reach mass adoption through ultra-prime underlying assets, underlying quality precedes token liquidity. 2. Real RWA liquidity will not come from an OTC secondary market, but from native collateralization within DeFi protocols. 3. Institutional momentum on RWA has arrived (BlackRock BUIDL, Franklin Templeton, EU private banks). The strategic window is now. These convictions are forged by 3 pillars: 5 years of tokenization experience (our founder built and exited PECULE, a tokenization-as-a-service platform); private banking partners ready to co-finance the fund; and Foncière Renaissance, operator of Paris's finest assets. Cardano as Limited Partner, not as donor: the Treasury becomes an LP for €15M (15% of a €100M target total raise, with the remainder funded by our banking partner and our network of Family Offices and wealth advisors). Capital returned at exit, target net IRR of 10%, pari passu with all LPs. What Cardano gains: +€100M of durable fiat-backed TVL, the first production deployment of CIP-113 at institutional scale, the first EU institutional RWA flagship on Cardano, onboarding of 100+ wealth advisors / private banks / family offices, fund units composable across Cardano DeFi. Zero fees requested from the Treasury (tech, Big Four audit, AIFM, legal), 100% self-funded by Bridge Fund. Capital release in milestones (0 / 30 / 30 / 40%) with escrow. Our mission: build the first prime real estate fund that is both tokenized AND liquid, through its native listing on Cardano's DeFi protocols. Cardano, the infrastructure of European real-economy finance.