Cryptocurrency venture capital firm SPiCE VC, which has closed its pre-ICO sale on $40m, has now launched its ICO.
The firm will invest in tokenised and blockchain projects with its cryptocurrency capital pool. The company will also allow co-investment from backers in the company, through the use of its regulatory compliant SPiCE token.
SPiCE is looking to back primary and secondary issuing and trading platforms, tokenised platforms, financial, banking, marketing, management and operations solutions, and automated legal, compliance and regulatory solutions, according to the company.
Its portfolio already includes Securitize, which offers a turnkey solution to enable funds, companies and assets to conduct a globally regulation-compliant security token sale. The Securitize platform allows investors to register, go through investment process including KYC/AML, accreditation, and all legal requirements, all the way to enabling the receipt of crypto and fiat investments. It also issues security tokens, with both the central management component require for regulation compliance, and the smart contracts, with options for tailor-made solutions
Investments will be made to companies that are in-between seed investments and Series As and ICOs. In a blog post, SPiCE VC co-founder Carlos Domingo said, “When we started this project we wanted to build the best tokenized VC fund on the blockchain leveraging this exciting technology to provide liquidity, exclusivity and transparency to the world of venture capital and to demonstrate that you can also execute a legal and properly regulated security token sale.”
Last year, Bitwise Asset Management raised a $4m seed round from investors including Khosla Ventures’ Keith Rabois, General Catalyst’s Hemant Taneja, and Blockchain Capital, among others. Alongside the funding, the company launched HOLD 10 Private Index Fund which is a cryptocurrency investment fund focused on acquiring various tokens.
Around 63 per cent of the capital deployed into cryptocurrency companies last year went to ones based in North America. The next biggest market was Europe, which received around 30 per cent of the activity.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
