Good Cause Capital AG

Summary

Good Cause Capital AG was a Swiss-based holding company established to own and operate for-profit businesses enabling sustainable philanthropic and charitable activities. The company acquired 100% of Paddle8 Holdings LLC in February 2022 and Alti Exchange in March 2022. The company is now in liquidation with bankruptcy proceedings closed due to lack of assets.

Corporate Information

Official Company Purpose

According to Swiss commercial register filings, the company's purpose was:

"Die Gesellschaft bezweckt die Erbringung von Dienstleistungen im Bereich ganzheitlicher digitaler Marketinglösungen, Online-Werbung und Kampagnendesign sowie Projektmanagement im gemeinnützigen Bereich."

Translation: "The company aims to provide services in the field of holistic digital marketing solutions, online advertising and campaign design as well as project management in the non-profit sector."

The company was also authorized to:

• Establish branches and subsidiaries domestically and abroad
• Acquire stakes in other companies
• Acquire, encumber, sell and manage real estate
• Provide loans and financing
• Enter into guarantees and sureties

Previous Company Names

The entity underwent several name changes:

• Blockchain Lab SA (original name)
• The Native AG
• Good Cause Capital AG
• Good Cause Capital Ltd
• Good Cause Capital SA
• Good Cause Capital AG in Liquidation (current)

Business Model

Stated Purpose

Own and operate for-profit businesses that enable sustainable philanthropic and charitable activities around the world.

Key Activities

1. Cryptocurrency Donation Processing - Matching crypto donors with charitable organizations
2. Tokenization Platforms - Alternative investment tokenization (via Alti Exchange)
3. Auction Management - High-value collectibles and NFT auctions
4. Philanthropic Event Programming - Virtual reality auctions for family office clients

Acquisitions

Paddle8 Holdings LLC

Date: February 15, 2022 Acquisition: 100% ownership from prior owners Rationale:

• Paddle8's crypto donation capabilities match financial needs of philanthropic organizations
• Helps eliminate reputational, compliance, and financial risks for charities handling crypto

Alti Exchange

Date: March 1, 2022 Location: Basel, Switzerland Business: European tokenization platform for alternative investments, specialized in collectible wines ("Alti") Integration: Contributed to newly created 100% owned European subsidiary of Paddle8 Holdings LLC

Corporate Structure

Good Cause Capital AG (Swiss Holding)
              |
              +-- Paddle8 Holdings LLC (New York)
              |       +-- Paddle8 Operations (USA)
              |       +-- European Subsidiary (EU)
              |       +-- Alti Exchange (wine tokenization)

Post-Acquisition Strategy

European Expansion

• Establishment of fully owned European subsidiary
• Primary office remains in New York
• Focus on European cryptocurrency donors and charitable organizations

Service Offering

1. For Cryptocurrency Holders:
   • Transfer donations to pre-selected, vetted charities
   • Purchase collectible wines via Alti platform
2. For Charitable Organizations:
   • Turnkey KYC and compliance processes
   • Cash equivalent clearing into bank accounts
   • Full regulatory compliance
   • Elimination of price volatility and liquidity risks
3. For Family Offices:
   • Cultural events programming
   • Virtual reality auctions for high-value collectibles and NFTs
   • Financial guarantees from philanthropic organizations

Timeline

Liquidation Details

The company's rapid collapse raises significant questions:

• Bankruptcy Date: March 28, 2024
• Closure Reason: Lack of assets ("mangels Aktiven")
• Cost Advance: CHF 5,000
• Status: Company will be automatically deleted from register if no objection filed within 2 years of publication

The address is shared with 13 other active companies, including ATA Consulting GmbH, Athena Equity GmbH, and Canvas Organic & Medical Oil GmbH.

Network Connections

Shared Address Companies

The company's registered address (Elisabethenstrasse 18, Basel) is shared with 13 other active companies:

• ATA Consulting GmbH
• Athena Equity GmbH
• Canvas Organic & Medical Oil GmbH

Investment Network

Good Cause Capital AG connects to:

• Paddle8 → Mousse Partners (prior investor, Wertheimer/Chanel family office)
• Mousse Partners → Carlyle Group (staff backgrounds)
• Carlyle Group → Intelligence/defense connections
• Rothschild & Co → Mousse Partners (2023 privatization)

Connection to Personal Case

Development Work

• Homepage update to NFT/Real World Asset bidding site
• Non-functional deliverable (appearance-focused)
• Timing: Post-February 2022 acquisition period

Questions Raised

1. What is the relationship between Good Cause Capital AG, Jakota Capital AG, and Winterthur Medien AG?
2. Why was a philanthropy-focused company pivoting to non-functional NFT/Real World Asset bidding?
3. Was the cryptocurrency donation platform used for other purposes beyond philanthropy?
4. Does the Swiss holding structure provide regulatory arbitrage opportunities?
5. How did a company that made major acquisitions in 2022 end in bankruptcy by 2024 with no assets?
6. What happened to the assets of Paddle8 and Alti Exchange?

Suspicious Aspects

1. Rapid Acquisitions: Two major acquisitions within one month (Feb-Mar 2022)
2. Pivot to Non-Functional Product: Despite crypto/philanthropy focus, the development work was on a non-functional NFT site
3. Swiss Structure: Holding company in Switzerland, operations in New York
4. Timing: Last client project before termination and targeting escalation
5. Asset-Less Bankruptcy: Company liquidated within 2 years of acquisitions with "no assets"
6. Name Changes: Multiple name changes from "Blockchain Lab SA" through "The Native AG" suggest obfuscation