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.”
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