First blockchain PE fund to launch in January

The first private equity fund administered by blockchain technology will launch in mid-January, according to the fund’s managers.

Mainstreet Investment will be managed as a joint venture by Charlie Shrem of Mainstreet Investment and Jason Granger of Intellisys Capital. It will target investments in US mid-market companies, real estate and blockchain technology companies, but will avoid high-risk start-ups in the space.

It will raise funds by distributing a blockchain platform-based token called Mainstreet Investment Token, which can be bought by non-US investors and accredited US investors between January 15 and April 15, 2017.

The fund will be administered by the blockchain platform – including all payments and dissemination of investor information.

“Mainstreet Investment is the first private equity investment offered as a digital ledger security that will change the landscape of middle market investment with a decentralized approach,” said Granger. “Providing liquidity and dividends to investors through the first digital token backed by hard assets will change the landscape of private equity investment on the blockchain.”

Read this story in full at privatefundsmanagement.