Backed by the Founder of Mozilla and CEO of Brave, SPiCE VC Is Launching A Fully Regulated Blockchain VC

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SPiCE VC, a venture capital firm, is leveraging blockchain technology to remove the biggest problem for investors in VC funds – the 7-10 years illiquidity period. SPiCE is announcing today the launch of the first ICO for a VC fund that can accept funds from pre-qualified investors (per country regulations, and under Reg D Rule 506(c) in the US) and offers immediate liquidity in a market that was until now completely illiquid.

ICOs are already disrupting the way individual blockchain startups raise money, but what about the way VCs themselves raise capital? Today, investing in the most exciting (and risky) stage of startups, is blocked for most private investors, and even financial institutions could only dedicate a fraction of investments to VC funds because of the 7-10 years lockup. Digital tokenization has the ability to change the way VC funds raise, invest and distribute capital, making it more liquid, inclusive, and manageable.

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SPiCE uses the ethereum blockchain to host their SPiCE token, which acts as a digital security, assuring that every investor, while holding the token, gets their share of the exits when they occur. The token can also be used as a tradable asset, making SPiCE both asset-backed, and liquid, and rightfully coining itself a Liquid VC. The SPiCE token ICO is scheduled for late November.

SPiCE will invest its funds in a gap the company identified in the tech ecosystem: Over the last few years, it has become easier for new startups to raise seed money from hundreds of angels and incubators. The challenges arise when arriving to the series A rounds, which have grown in size, and so have the milestones that startups must achieve to secure them. SPiCE VC will focus on companies in that gap, either pre-series-A or pre-ICO, because once a company crosses the chasm, it achieves the fastest growth in valuation, which SPiCE investors may benefit from via its liquidity.

SPiCE offers benefits to both the financial and blockchain industries:

From the world of the blockchain it brings:

  • Immediate liquidity
  • Inclusivity, opening venture capital to pre-qualified investors
  • Investments in blockchain equity rounds, and ICOs

From the world of the venture capital it brings:

  • Robust investment process and due diligence by a team of experienced entrepreneurs
  • Diversification outside crypto, into equity investments across the hottest tech sectors
  • Backing tokens by assets, shielding them from market volatility

Spice boasts a tremendous group of advisors, including Loic Le Meur, famous entrepreneur and founder of Le Web, Brendan Eich, inventor of JavaScript and co-founder of Mozilla and Brave which launched the Basic Attention Token ICO, as well as Eyal Hertzog, founder of Metacafe and co-founder and architect of Bancor. SPiCE is also partnering with the Aragon Network, a digital jurisdiction platform, to bring governance to the world of security tokens.

“While equity crowdsourcing brought startup investments to the public,” said Carlos Domingo, Co-Founder and Managing Partner of SPICE, “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.”

“We are excited about Spice’s decision to utilize the Bancor protocol to add liquidity to its security token,” said Eyal Hertzog, Co-founder of Bancor and SPiCE adviser, “The extreme efficiency that blockchain and smart contracts technologies enable, resulted in a volume of ICO crowdfunding for blockchain companies that has surpassed traditional early stage VC investment, and now with SPiCE VC, this revolution is coming for the funding of VCs themselves.”

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST
2015), a partner at ICO services collective Token.Agency
($750m+ and 90+ ICOs and STOs), director of education company
Blockchain Partners
(Oracle Partner) and ICO event organiser
at leading industry event CryptoFinancing (Europe's first ICO event now
branded Tokenomicon)
– Vancouver native Richard Kastelein is an award-winning publisher,
innovation executive and entrepreneur. He sits on the advisory boards
of some two dozen Blockchain startups and has written over 1500
articles on Blockchain technology and startups at Blockchain News and
has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.  Irish Tech News put him in the top
10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of
Blockchain
at China's first Blockchain University in Nanchang
at the Jiangxi Ahead Institute of Software and Technology. In 2018 he
was invited to and attended University of Oxford's Saïd Business School
for Business Automation 4.0 programme. Chevalier (Knight) - Ordre des
Arts et des Technologies at Crypto Chain University and an Advisory
Board Member of International Decentralized Association Of
Cryptocurrency And Blockchain (IDABC) as well as Advisory Board Member
at U.S. Blockchain Association. Over a half a decade experience judging
and rewarding some 1000+ innovation projects as an EU expert for the
European Commission's SME Instrument programme as a startup assessor
and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain
technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels,
Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki,
London (5x), Manchester, Minsk, Nairobi, Nanchang, San Mateo, San
Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel
Aviv,  Utrecht, Venice,  Visakhapatnam, Zwolle and
Zurich.  His network is global and extensive.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has
ranged from the Canadian Native Press (Arctic) to the Caribbean
& Europe. He's written occasionally for Harvard Business
Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work
and ideas have been translated into Dutch, Greek, Polish, German and
French. A journalist by trade, an entrepreneur and adventurer at heart,
Kastelein's professional career has ranged from political publishing to
TV technology, boatbuilding to judging startups, skippering yachts to
marketing and more as he's travelled for nearly 30 years as a Canadian
expatriate living around the world. In his 20s, he sailed around the
world on small yachts and wrote a series of travel articles called,
"The Hitchhiker's Guide to the Seas' travelling by hitching rides on
yachts (1989) in major travel and yachting publications. He currently
lives in Groningen, Netherlands where he's raising three teenage
daughters with his wife and sailing partner, Wieke Beenen.

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