Global investors will have access to long-awaited late-stage private companies
SAN FRANCISCO--(BUSINESS WIRE)--Due to numerous revisions, please replace the press release issued on April 30, 2018 at 9:00 ET with the corrected version below.
Revised press release:
Andra Capital launches first tokenized late-stage tech growth fund on the blockchain
Global investors will have access to long-awaited late-stage private companies
Andra Capital today announced the launch of its late-stage technology growth fund. Andra Fund is tokenized on the blockchain to provide more investment opportunities for U.S.-accredited buyers as well as licensed global investors.
Andra Capital intends to use blockchain technology to break the investment model of traditional limelight capital through its Silicon Valley Coin ("SVC"). Andra is able to replace traditional paper contracts with digital smart contracts. Andra's "SiliconValley Coin" is a security token. The fund plans to invest in stakes in late-stage private technology companies. One of the great advantages of fund tokenization is that it can diversify venture capital and bridge the gap between tech companies and global investors. The company will conduct a private pre-sale campaign ahead of the SVC offering, which is expected to begin in summer 2018.
Democratizing Venture Capital
With SiliconValley Coin, Andra aims to democratize venture capital by enabling global investors to participate in late-stage Silicon Valley investments. Previously, this exclusive channel was largely limited to closed VC networks and large investment firms. Andra Capital hopes to provide investors with unprecedented access to high-growth technology companies in the pre- and post-IPO period.
Haydar Haba, Managing Partner of Andra Capital, said, "Andra Capital will leverage the blockchain-based security token 'Silicon Valley Coin' to democratize venture capital. We will combine the company's investment strategy with technology and world-class partners. combined to create innovative fund structures.”
world class partner
Committed to providing best-in-class professional management, oversight and transparency, Andra Capital partners include:
- DLA Piper , as legal counsel,
- Deloitte & Touché LLP , fund auditor,
- Duff & Phelps , overseeing the valuation and compliance practice, and
- Apex Fund Services , responsible for fund management.
Hermann Liu, managing partner of Andra Capital, said, "Andra Fund is very attractive to institutional investors and token investors alike. The value of the company's tokens is linked to the fund's investment, because each token represents the fund. An equity unit of the Andra Fund. Andra Fund is an evergreen in the industry, committed to increasing its value and AUM.”
About AndraCapital
Andra Capital is a late-stage technology growth fund headquartered in San Francisco. Andra uses blockchain to tokenize funds to provide global investors with more exclusive access to late-stage private technology companies. The company's innovative "Silicon Valley Coin" represents the company's ownership interest in the Andra Fund and is a tradable security token.