Paleo Resources, Inc. reported that its indirect US subsidiary EnergyFunders LLC has launched two new funds: the Bitcoin Discovery Fund I LLC, which will exclusively invest in bitcoin mining projects, and the Wildcat Pioneer Fund I LLC, which will invest in higher risk, higher rewardoil and gasdrilling projects, primarily targeting drilling opportunities associated with unproven reserves and prospective (undiscovered) resources, also known as wildcat wells. EnergyFunders does not own an equity interest in either the Wildcat Pioneer or Bitcoin Discovery fund but will earn a fund origination fee that ranges from 1% to 3% of the investment amount, an annual fee of 2% of the assets under management, and a reversionary 20% revenue interest once fund investors recover their initial investment plus a 15% internal rate of return. Each new fund is targeting a USD 10 million capital raise.

Both entities commenced their capital campaigns on January 25th, 2022, and are currently accepting investor capital.