SPiCE has announced today the launch of an ICO for a venture capital fund that can accept funds from pre-qualified investors. The fund will focus on early stage blockchain startup, either pre-series-A or pre-ICO.
Spice’s three founding members are: Carlos Domingo, formerly CEO of Telefonica R&D and New Business and Innovation at Telefonica Digital, and co-founder of Wayra; Ami Ben David, a founder of four startups, a marketer and product innovator; and Tal Elyashiv, formerly CIO at Capital One and Bank of America, CTO of 888, founder of three startups and an angel investor.
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“While equity crowdsourcing brought startup investments to the public,” said Carlos Domingo, 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.”