Four pillars. One transition.
Capital markets are moving from traditional rails to tokenized rails — a dual-rail transition that will run for a decade. COSIMO X invests in the companies building the infrastructure of that transition, across four pillars. Each pillar maps directly to a layer of the platform COSIMO Digital operates.
RWA Tokenization
The platforms that bring real-world assets on-chain: issuance, servicing, and lifecycle infrastructure for tokenized securities.
Platform counterpart: Regulated Issuance — Black Manta Capital Partners.
How we invest here →Payments & Stablecoins
The settlement money of tokenized markets: stablecoin rails, payment infrastructure, and the bridges between bank money and on-chain money.
Platform counterpart: Custody and Payments — Fortuna.
How we invest here →Private Credit
Origination, servicing, and financing infrastructure that moves private credit onto programmable rails — the largest early RWA category by volume.
Platform counterpart: Regulated Issuance and Custody — origination-to-servicing rails.
How we invest here →Equity & Capital Markets
Dual-rail equity systems, digital securities exchanges, and the market structure of tokenized capital formation.
Platform counterpart: Settlement and Identity — Revolution Network. COSIMO X itself is a working example.
How we invest here →AI & Blockchain
How we invest here →Where autonomous AI meets on-chain finance: AI agents that hold wallets and transact machine-to-machine, agentic payment rails settled in stablecoins, on-chain identity and reputation for agents, and the AI systems that price, monitor, and keep tokenized assets compliant in real time.
Platform counterpart: Settlement and Identity — Revolution Network (compliant identity for autonomous agents), with Custody and Payments — Fortuna for stablecoin settlement.
By the numbers
Figures as of June 30, 2025. AUM reflects gross net asset value of fund holdings.
We invest in the market we build. That is not a coincidence.
The fund invests across the layers of tokenized capital markets. The portfolio gives COSIMO operating visibility into every layer — regulation, custody, market structure, adoption. That visibility shaped the platform COSIMO Digital now operates. And the platform, in turn, informs every new investment.
Strategy
The dual-rail thesis, the four pillars in depth, and how we allocate capital.
Open →Portfolio
Selected investments across the four pillars, active and realized.
Open →Structure
What “tokenized evergreen” means, mechanically.
Open →Track Record
A decade of operating history, and the team behind it.
Open →This page is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security. Interests in COSIMO X LP are offered solely to qualified investors through the Fund’s confidential offering documents, pursuant to exemptions under Regulation D and Regulation S of the U.S. Securities Act, which control in all respects. Figures are as of the date stated and unaudited. Past performance is not indicative of future results.