Blockchain
The 22X Fund token presale starts this week
Monday, January 22, 2018
|
Richard Harris |
22X Fund cryptocurrency ICO has recently been announced, here's what you need to know.
What happens when you throw together 30 global tech startups into the hotbed of Silicon Valley during the Wild West of the crypto craze? You get 22X Fund, the first-ever token offering backed by real equity among a group of pioneering startups.
The 22X Fund, announces the first-ever token launch of its kind, with token pre-sales beginning on January 26, 2018 at 07:00 EST. By purchasing tokens issued by 22X, investors will now have an opportunity for early exposure to up to 30 high potential early-stage companies.
22X was derived from “Batch 22” of the 500 Startups Global Seed Accelerator program, all of whom participated in the 500 Startups summer 2017 accelerator program. Participating companies in the 22X Fund have already raised over $22MM in seed capital from top VCs, institutions and angel investors.
Investors that satisfy the applicable suitability standards and are interested in gaining exposure to a select group of promising startups, can subscribe to 22X with several crypto or fiat currencies and will receive the digital ERC20 compliant 22X Token in return.
In addition to gaining exposure to emerging companies, investors in 22X can expect lower fees compared to traditional VC or ICO investments. Another distinguishing factor of 22X is that unlike many other venture capital investments, it does not subject its investors to carried interest.
22X is aiming to raise $35 MM, almost all of which will be deployed immediately and invested on a pro-rata basis in the equity of participating companies with a view towards fueling their expansion.
The 22X Fund, announces the first-ever token launch of its kind, with token pre-sales beginning on January 26, 2018 at 07:00 EST. By purchasing tokens issued by 22X, investors will now have an opportunity for early exposure to up to 30 high potential early-stage companies.
22X was derived from “Batch 22” of the 500 Startups Global Seed Accelerator program, all of whom participated in the 500 Startups summer 2017 accelerator program. Participating companies in the 22X Fund have already raised over $22MM in seed capital from top VCs, institutions and angel investors.
Investors that satisfy the applicable suitability standards and are interested in gaining exposure to a select group of promising startups, can subscribe to 22X with several crypto or fiat currencies and will receive the digital ERC20 compliant 22X Token in return.
In addition to gaining exposure to emerging companies, investors in 22X can expect lower fees compared to traditional VC or ICO investments. Another distinguishing factor of 22X is that unlike many other venture capital investments, it does not subject its investors to carried interest.
22X is aiming to raise $35 MM, almost all of which will be deployed immediately and invested on a pro-rata basis in the equity of participating companies with a view towards fueling their expansion.
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