This is cool. Shaun, how are you managing US security law compliance given that this token (representing equities in real companies) would be classified as a security offering?
Report
@nickabouzeid Hi Nick! I am one of the participating founders.
22X is a private fund that is being offered pursuant to Section 506(c) and is reliant on available exemptions under the Investment Company Act. There's more specifics in our whitepaper, if you're curious.
Report
@nickabouzeid@ayushk there are min funding requirements and a 1 year hold period so these tokens are not trading for a while.
Report
@nickabouzeid@illfee Just to be clear: the holding period applies only to US investors. Outside the US, minimums are lower too. Within the US, we had to choose a compliance framework that made sense given the current legislative landscape.
Report
Are all investors getting the same discount on the token sale or do the large name brands get premium discount at the expense of of the majority (public investors) who bag hold the Pre sale discount offered to the big brand investors? I always worry when I see a collective of large brands in one place wondering what was given to get them on board. Are my worries unfounded?
@a12rj the angels and companies you're referring to invested prior to the offering (companies participating have already raised 22M+ in previous rounds before and after batch #22)
@golear Hi Gabe, have you taken a look at the white paper? You can find more information there.
Report
@zabimaru_ichigo yeah that's why I specified 'readily accessible' it should be made very easy for interested parties to see who make up the team behind something like this. I rarely read whitepapers when a few red flags go off (can't find team members on the site being one of them).
Ramp
Trueface
This is the future of funding for accelerator companies and early stage startups.
Pros:Easy and low cost way to invest in a diverse portfolio of vetted startups
Cons:If you are a US investor there is a large minimum in the presale
Taza
Changing the landscape of early stage startup investing and democratizing deal flow
Pros:One token to have equity in 30 hot startups
Cons:N/A
I believe this is going to change the face of startup fundraising, and many will follow.
Pros:Transparent, lower risk
Cons:Minimum of $50K for US investors in the main sale
Haven (Gen II)