New venture capital fund Bitcoin Capital has passed the $1 million raised mark on equity CrowdFunding platform BnkToTheFuture.com.

The fund, which launched its capital raising on May 14 aiming to raise $1 million, passed the total Thursday with 6 days still remaining to reach its target.

Bitcoin Capital, run by financial journalist, entrepreneur, and investor Max Keiser, and Simon Dixon, an ex-investment banker, investor, entrepreneur and co-founder of Bnk To The Future, aims to provide investors with a spread of investments covering startups, Bitcoin mining, and cryptocurrency trading.

Each sector will have one-third of the fund invested into it.

In the Bitcoin mining space the fund will invest in Bitcoin mining equipment to mine for Bitcoins, which Dixon claims will give investors regular returns, an interesting promise given that Bitcoin mining is generally considered to be unprofitable in 2015.

On the crytpocurrency front, Dixon says that the company will look at cross-currency trades for profit, the foreign exchange equivalent of the cyptocurrency space.

Finally, and long term probably the most promising part of the fund is the investment in Bitcoin and Blockchain related startups.

“I have been critical of the traditional financial system for many years on my show,” Keiser said. “I was the first global news outlet to cover Bitcoin when it was trading at $3, recognizing its potential to change the world. Many startups in the Bitcoin space credit Keiser Report for getting them started in the business. Bitcoin Capital allows the founders and investors to experiment with new crypto financial business models and currencies to transform global finance.”

“We have developed a model for finding startups to invest in which involves them initially crowdfunding through the Crypto CrowdFunding site – StartJOIN, and then Bitcoin Capital may be able to top them up if they successfully raise their funds through an equity offering on BnkToTheFuture.com,” Dixon added.

Daily dividends and alarm bells

While it sounds like a fairly promising fund, the promise of daily dividends to investors does immediately set the alarm bells ringing.

“At the same time as investors benefiting from any growth of the sector, we are able to offer investors daily dividend determined by the mining process,” Dixon notes, before adding ““We are able to do all the geeky things like running mining rigs in Iceland and buying coins on exchanges that investors who are new to the sector are unable to do. Thanks to our experience and involvement in the sector from very early on we are able to combine these new models of finance together.”

The fund, to its credit, is somewhat diversified, and the two promoters have fairly solid backgrounds as much as we could find via Google.

Investors have to be qualified to participate in the capital raising, and this is definitely a good thing given the risks, and claims being made.

The fundraising closes June 11.