Andra Capital, a San-Francisco venture capital company, have announced plans to utilise the Tezos blockchain (XTZ) and TokenSoft’s issuance platform to launch a Security Token Offering (STO) for a Silicon Valley Coin (SVC). The coin provides access to Andra Capital’s SVC fund – an open-ended fund that invests in late-stage, pre-Initial Public Offering (IPO) technology companies.
[Announcement] We’re excited to announce: Our Silicon Valley Coin Uses @tezos Blockchain and Tokensoft for Our #SecurityTokenOffering. Investors have access to pre-IPO technology companies. Learn more: https://t.co/FZAZT72KQi #STO #blockchain #VentureCapital #invest
— AndraCapital (@AndraCapital) January 22, 2020
The SVC fund will be open to accredited investors in the U.S. with a minimum contribution of $10,000 and permitted investors around the world with a lower threshold of $1,000. During the STO, payment can be made in USD fiat, Ethereum (ETH), Bitcoin (BTC) and Tezos (XTZ).
In discussing their choices of partners for the launch, Andra Capital’s Head of Strategic Partnerships, Sam Raman, said “The TokenSoft platform provides the technology for qualified retail investors to participate… and we have partnered with the best-in-class providers including the Tezos Foundation for its expertise in digital securities.”
TokenSoft, who recently hired a former regulator of the U.S. Securities & Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC), provide institutional-grade compliance advice and enable clients to launch and manage digital assets on various blockchains and jurisdictions.
The Tezos blockchain employs a live-upgrade process that can support a smart contract life across multiple decades and is positioning itself to be a reliable platform for high value assets such as digital securities and real estate.
Alison Mangiero, President of TQ Tezos, a provider of Tezos-based solutions for enterprises and developers, said “We are thrilled to see venture capital firms embrace digital securities, which allow them to easily and compliantly offer global investors access to a historically exclusive asset class.”
The Tezos Foundation itself is pro-active in seeking new partnerships and regularly issues grants in response to requests for proposals (RFPs) that enhance the Tezos ecosystem.