Venovate Helps Bitreserve Reach $10M Fundraising Target With Access to the "Qualified Crowd"
Venovate, the online brokerage platform for alternative investing, today announced it has helped digital currency innovator Bitreserve successfully reach its goal of $10M in its Series B fundraise, which was conducted November 2014 through January 2015. Venovate's private equity platform for accredited investors served to augment the transatlantic fundraise that was also presented on the UK crowdfunding platform Crowdcube, bringing the total amount raised to more than $10M. The fundraise is scheduled to officially close to investors on the Venovate platform January 19, 2015.
Bitreserve is a next-generation financial service that makes using digital money easy, fast and free. Bitreserve enables members to hold bitcoin as stable, real-world value -- euros, dollars, sterling, yen, yuan and gold -- but still spend it as bitcoin. This shields Bitreserve members from bitcoin's volatility, and enables cloud money that is instant and free to send and receive.
Venovate Marketplace facilitates the capital raise of private listings with systems and processes designed to fully support compliance with both SEC rules 506(b) and 506(c). The opportunities currently listed on the platform are raising a total of more than $1 billion across venture capital, private equity, real estate, and private companies. Bitreserve was a 506(c) listing, allowing general solicitation to accredited investors.
"Bitreserve is an exciting company with a mission to redefine the way the world uses currency in the digital age," said Venovate CEO Michael Raneri. "We were thrilled to bring that kind of opportunity to investors on our platform, making it easy for both the issuer and investor to do their due diligence and complete the transaction."
Bitreserve chose to raise funds on Venovate and Crowdcube because it aligned with the company's belief that financing should be a more accessible and egalitarian process.
Tim Parsa, President of Global Strategy & Markets for Bitreserve, said,
"Bitreserve is committed to transforming the finance sector from opaque to transparent, from exclusive to inclusive. Opening our financing to Venovate members was an aspect of that commitment. I hope U.S. securities laws continue to evolve so that more investors have access to ambitious tech ventures like ours."
Venovate Marketplace, a registered broker-dealer with FINRA and member of SIPC, offers a secure online brokerage platform that enables issuers to confidently offer private placements directly to accredited investors and their advisors. Venovate provides the efficiency and transparency that has been lacking in the private securities market. It makes it easy for issuers to comply with regulatory requirements by verifying the accreditation of investors and providing the tools to display all appropriate disclosure documents for listings. Venovate streamlines the gathering of necessary information, transfers investor funds into escrow, disburses the proceeds to issuers, and closes the deal -- fully compliant, and all online.
About Venovate
Venovate Holdings, Inc. is the parent company of Venovate Marketplace, Inc., which provides smarter investment alternatives to institutions, accredited investors, and their advisors via an online experience. Venovate Marketplace is a member of FINRA and SIPC, and is a SEC Registered Alternative Trading System.
About Bitreserve
Bitreserve is a new financial system that makes using digital money secure, seamless and free. The company is setting a new standard for transparency in today's financial system and is pioneering the digital money movement to build a more egalitarian world. Bitreserve enables members to escape bitcoin volatility by holding bitcoin as stable, real-world money, but still spend their money as bitcoin. Founded by Halsey Minor in 2013, Bitreserve is headquartered in Charleston, South Carolina and has operations in Braga, Shanghai and San Francisco.
NOTE: Venovate Holdings provides self-directed, accredited investors with investment opportunities through its FINRA-registered subsidiaries, and does not make recommendations or offer investment, financial, legal or tax advice. The content of this press release is provided for educational and informational purposes only, and does not constitute a recommendation to enter in any securities transactions or to engage in any of the investment strategies presented herein.
Private security investments have inherent risks. An investor should understand these and additional risks before investing.
Related News
UPDATE (14 January 2015 13:00 BST): Article has been updated to reflect crowdfunding breakdown. Bitreserve has closed its crowdfunding campaign after raising over $9m. The final total of $9,620,802 (£6,363,024) was reached after 157 investors bought 11.27% of the equity offered. Crowdcube investors raised $739,219 (£489,744) whilst the remaining $8,911,645 (£5,873,280) was contributed by a combination of Venovate and institutional investors. The crowdfunding activity on Venovate amounted to $126,000 (£83,020) whilst the remaining balance of $8.7m (£5.7m) came from institutional investors.....
Setting out to raise $4.6 million in funding, Bitreserve launched their second round of crowdfunding last November. Now the company has raised $9.5 million and is the second largest crowdfunded digital currency project, taking runner-up behind Ethereum's ether sale. The funding was classified as a Series-B investment round, allowing investors from Series-A to reinvest if they wanted. Twenty-four investors participated in the Series-B round on CrowdCube, a platform for United Kingdom investors. To target United States investors, Bitreserve also used the Venovate crowdfunding tool. According....
Bitreserve is seeking to raise $10m in capital through a new crowdfunding initiative. The bitcoin storage platform, started by CNET founder Halsey Minor, has raised $7m so far, with 51 days to go on its funding campaign. Minor said the decision to raise a financing through crowdfunding was a "supplement" to other fundraising efforts. He also said it is an attempt to address the limited investment opportunities available to the general public for technology companies like his. Minor told CoinDesk: "People should have a right to invest in innovation ... there are so many things that are just....
Bitreserve has broken through its £6 million GBP ($9.35 Million USD) target on the British crowd-funding website Crowdcube. With 8 days left to run, during which time they can continue to receive 'overfunding' investments, the South Carolina (United States) firm is already claiming the second biggest ever crowdfunding campaign for a cryptocurrency project, behind only Etheruem's 'pre-sale' of tokens, and is comfortably the largest one ever for a Bitcoin company. This 'Series B' investment round, which was launched in November 2014, is in addition to the $4.5 million which the firm have....
As of this writing, South Carolina firm Bitreserve has already raised over 5 million of the 6 million British pounds it is aiming to raise with British platform CrowdCube. CrowdCube allows British folks to take a stake in privately-held companies at any stage in their development. The minimum investment on CrowdCube is just £10 making it similar to KickStarter or IndieGoGo but instead of focusing on artists or good-will projects, CrowdCube is for traditional businesses to raise capital. Bitreserve's aims are lofty. They seek to translate Bitcoin seamlessly to USD and other currencies for....