Blockchain Capital Raises $10M in 6 Hours

Blockchain Capital
Talk about hourly pay, how about $1.6M an hour. Seems a venture capital fund here in the U.S raised $10M in just six hours in an ICO. Blockchain Capital, co-founded by Brock Pierce, sold digital tokens dubbed “BCAP” to both institutional investors and the crypto-community at large. This is the wave of the future for raising capital and it just makes me wonder, why not “work” a few more hours for that kind of money? Congrats Brock and Blockchain Capital.
(Bill Taylor, CEO)

“U.S.-based venture capital firm Blockchain Capital LLC said on Thursday it raised US$10 million in six hours in a sale of its digital tokens to investors.

The company did not say when the sale occurred.

Blockhain Capital’s tokens called “BCAP” will be made available to buyers on the website on or before May 10, the company said in a statement.
“We wanted to democratize access and provide enhanced liquidity to the venture capital asset class, and we believe we succeeded,” said Blockchain Capital co-founder Brock Pierce.

“We saw incredible institutional demand, which we ended up carving back to make room for the crypto-community.”

The crypto-community refers to a network of investors, technology enthusiasts, as well as software developers and engineers operating in the digital currency space.

The BCAP tokens represent a fraction of ownership in a new fund called Blockchain Capital III Digital Liquid Venture Fund, LP.

It was the first ever digital token sale by a venture capital firm

Over the past year, startups in the blockchain space have raised capital by creating and selling their own currencies in so-called “initial coin offerings” without the help of banks or venture capital firms.

These sales are meant to be quicker than raising capital through VCs and banks, which can take anywhere from six months to a year. It is not uncommon to raise funds in under 12 hours…”

Source: Channelnewsasia