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Houlihan Capital

Crypto & Digital Assets

Valuation and Advisory for Crypto Fund Managers, Digital Asset Investors, and Blockchain-Native Companies

Houlihan Capital is one of the first valuation firms to specialize in digital assets, pioneering practical frameworks for crypto portfolios long before industry standards emerged. Since 2018, we have delivered mark-to-model fair value reporting and independent opinions for over 100 crypto fund clients, from emerging $20MM funds to established $30B+ players. 

As one of the few firms with both deep crypto expertise and institutional-grade methodology, we bridge traditional valuation approaches with the complexities of digital asset portfolios. Satisfying auditors, LPs, and regulators across every engagement. 

What We Do

Serving the Crypto & Digital Assets Sector

Business Valuations

Independent enterprise valuations for crypto and digital asset companies supporting financial reporting, strategic planning, and transaction advisory purposes.

Portfolio Valuation / Fair Value

Independent fair value reporting for crypto and digital asset funds, including pre-seed to late-stage venture equity, locked token valuations, and SAFE and SAFT analyses.

Goodwill & Intangible Assets

Purchase price allocations and goodwill impairment testing for crypto and digital asset companies navigating acquisitions and financial reporting requirements.

Stock Compensation

Independent 409A valuations for crypto and digital asset companies issuing equity compensation, supporting IRC Section 409A compliance and equity plan administration.

Tax Compliance / Planning

Independent valuations for tax reporting purposes, including carried interest and performance fee arrangements for crypto and digital asset fund managers.

SPAC Opinions

Independent fairness and valuation opinions supporting SPAC transactions involving crypto and digital asset targets.

Who We Serve

Serving the Crypto & Digital Assets Sector

Crypto Fund Managers

Recurring ASC 820-compliant fair value reporting for crypto-native fund managers, including locked token valuations, SAFE and SAFT analyses, and portfolio-level mark-to-market reporting across digital asset strategies.

Venture Capital & Private Equity Funds

Independent portfolio valuation support for VC and PE funds with crypto and digital asset exposure, including pre-seed to late-stage equity positions and token-based instruments, structured to satisfy auditor and LP requirements.

Blockchain-Native Companies & Founders

Valuations and fairness opinions for blockchain-native companies going public or executing strategic transactions via de-SPAC, reverse merger, or direct listing.

Working in crypto & digital assets?

Connect with an advisor who understands your sector.