Science Blockchain Tech Incubator Plans ICObr>
A technology incubator that has backed Dollar Shave Club, FameBit and other notable startups is planning its own initial coin offering (ICO).
The Science Blockchain ICO is believed to be the first incubator to enter the ICO market. Argon Group will be its adviser on the launch, which is looking to raise up to $100 million from token sales. By purchasing Science Blockchain ICO tokens, investors will be able to get a direct distribution of other tokens issued by portfolio companies in the Science Blockchain universe. ICO investors will also get additional tokens if those companies are sold.
The token sale opens to the public October 2. The pre-sale starts September 18.
“We wanted to put our money where our mouths were out of the gate,” Science founder and Chief Executive Officer Mike Jones said in a statement, “and we also see a major opportunity to help set a new bar for ICOs themselves, so from the outset, we’ve intentionally looked to issue security tokens under the Regulation D exemption from registration set forth by the U.S. Securities and Exchange Commission.”
Science enters the market having co-founded or invested in more than 70 companies and exited from multiple companies, including Dollar Shave Club (acquired by Unilevel for $1 billion), HelloSociety (a New York Times acquisition) and FameBit (a Google purchase).