Venture capital firm SPiCE VC is announcing today the launch of the first ICO for a “Liquid VC” fund that will use the Bancor protocol to offer immediate liquidity to investors. The fund is open to pre-qualified investors according to specific country regulations. In the U.S., the relevant regulation is Regulation D, Rule 506(c).
“While equity crowdsourcing brought startup investments to the public, we are hoping that SPiCE with its liquidity and inclusivity will bring more people to investing in a venture capital fund, taking the portfolio approach, and avoiding the inherent risk of investing into a single startup or ICO,” said Carlos Domingo, co-founder and managing partner of SPiCE and a former CEO of Telefonica RD.
SPiCE wants to leverage blockchain technology to disrupt the venture capital industry with regulatory-compliant, tradable securities tokens that entitle holders to 100 percent of net exit revenues. The Ethereum-based SPiCE token will act as a digital security, assuring that token holders get their share of the exits when they occur, and a tradable asset.
Read more ... source: Bitcoin Magazine
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