<SEC-DOCUMENT>0001104659-25-074853.txt : 20250806
<SEC-HEADER>0001104659-25-074853.hdr.sgml : 20250806
<ACCEPTANCE-DATETIME>20250806212408
ACCESSION NUMBER:		0001104659-25-074853
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250806
FILED AS OF DATE:		20250806
DATE AS OF CHANGE:		20250806

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Zhao Michael Xu
		CENTRAL INDEX KEY:			0001891095
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-24022
		FILM NUMBER:		251191287

	MAIL ADDRESS:	
		STREET 1:		1221 BRICKELL AVENUE SUITE 900
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33131

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			C1 Fund Inc.
		CENTRAL INDEX KEY:			0002044327
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		228 HAMILTON AVENUE
		STREET 2:		3RD FLOOR
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94301
		BUSINESS PHONE:		(650) 374-7800

	MAIL ADDRESS:	
		STREET 1:		228 HAMILTON AVENUE
		STREET 2:		3RD FLOOR
		CITY:			PALO ALTO
		STATE:			CA
		ZIP:			94301
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>tm2522756-1_3seq1.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-08-06</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0002044327</issuerCik>
        <issuerName>C1 Fund Inc.</issuerName>
        <issuerTradingSymbol>CFND</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001891095</rptOwnerCik>
            <rptOwnerName>Zhao Michael Xu</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O C1 FUND INC.</rptOwnerStreet1>
            <rptOwnerStreet2>228 HAMILTON AVENUE, THIRD FLOOR</rptOwnerStreet2>
            <rptOwnerCity>PALO ALTO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94301</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>211882</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Via C1 Group LLC</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The Reporting Person beneficially owns the reported shares through the Issuer's sponsor, C1 Group LLC. Reflects C1 Group LLC's forfeiture of 1,788,899 shares of common stock by C1 Group LLC upon the closing of the Issuer's IPO. Up to an additional 100,000 shares of common stock held by C1 Group LLC is subject to forfeiture if the underwriters do not exercise their over-allotment option, which would result in the forfeiture by the Reporting Person of 27,637 shares of common stock . Following the exercise of the over-allotment option or the expiration of the over-allotment option, as applicable, C1 Group LLC will own a number of shares of common stock that is equal to 10% of the shares of common stock outstanding.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Michael (Xu)_Zhao</signatureName>
        <signatureDate>2025-08-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
