Valinor Digital has launched the Valinor BDC Exposure Fund, or VBDC, a tokenized fund that holds a basket of publicly listed business development company stocks and gives accredited investors exposure to private credit returns. The fund allows daily subscriptions and redemptions and is issued as a series of the Superstate Asset Trust on Superstate’s FundOS platform, with management handled by Valinor Digital Capital. VBDC charges an additional 1.25% management fee on top of existing BDC fees, while daily redemptions are capped at 7.5% of net asset value. On-chain, none of the fund’s 499,157 shares have been tokenized so far. The VBDC token contract went live on Ethereum on Sept. 1, but total supply remains zero and there have been no transfer records. Superstate’s asset page currently labels DeFi integration as “coming soon.” VBDC is the fourth tokenized fund on the Superstate platform, pushing total platform assets past $1 billion. Valinor was founded in late 2023 by former Blackstone GSO executive Connor Dougherty and raised a $25 million seed round in March led by Castle Island Ventures, with participation from Apollo, Maven 11, and Neoclassic Capital.