Mainstreet Investment, a private equity platform launched by blockchain entrepreneurs and bitcoin advocates Jason Granger and Charlie Shrem, has released a memorandum of details and procedures related to the company’s crowdsale planned for January 2017.
The memorandum is meant as a gesture of transparency to potential investors or anyone interested in the token offering. It outlines the sale’s goals and objectives.
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“We want to be as upfront and transparent as possible about the token offering and what investors can expect,” said Shrem. “We’re raising the bar when it comes to raising funds through an initial token offering.”
Intellisys, as managing member and general partner of the fund, will help guide the use of proceeds from the sale for investment in US middle-market operating companies, fund-of-funds, and real estate projects. According to Intellisys, this approach will raise the fund’s credibility in mainstream markets, becoming a showcase for blockchain projects looking for recognition from larger investors.
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“As we provide distributions to investors,” Shrem said, “we will look at blockchain companies that will be synergistic with our portfolio companies.”
Granger added: “The Mainstreet Investment token offering will change the game for investing on a worldwide stage.” The high level of excitement associated with the project “keeps our team getting out of bed every morning to see what we’re going to do next.
“What we are attempting to achieve will merge investment, securities law and technologies in a way that has not yet been done,” Granger said.
The crowdsale of 50 million Mainstreet tokens is scheduled to launch on Jan. 15. The tokens can be purchased with bitcoin or ethereum. The sale is capped at $25 million, with a 10% holdback for additional investment and working capital needs for existing investments. The company adds that any unsold tokens will be burned immediately following the sale.