Valinor Digital, established in 2025 by former Blackstone executives Connor Dougherty and Lily Yarborough, has introduced the Valinor BDC Exposure Fund. The fund, identified by the ticker VBDC, focuses on a portfolio of SEC-registered, publicly traded business development companies that provide capital to middle-market firms.
Operating on the Superstate FundOS blockchain platform, the fund enables daily subscriptions and redemptions. This structure aims to address the liquidity constraints common in traditional private credit funds, which often limit withdrawal windows to quarterly or annual cycles.
In March 2026, Valinor Digital secured $25 million in a seed funding round led by Castle Island Ventures. The company positions its offering as an investment in real economy credit, utilizing corporate loans and equity rather than crypto-collateralized assets.
Superstate, founded in 2023, manages the tokenization layer, blockchain infrastructure, and transfer agent services for the fund. The platform has previously managed hundreds of millions of dollars in assets across various tokenized products to ensure regulatory compliance.
