Bitcoin entrepreneur Charlie Shrem launches first venture since prison

Announcements | November 29, 2016 By:

Bitcoin entrepreneur Charlie Shrem and Jason Granger have come together for a new venture that aims to offer new ways for cryptocurrency users to invest. It will be powered by Ethereum and a structured organizational framework focused on transparency and sound investment strategy.

According to the official release, the organization will consist of two companies, Mainstreet Investment L.P., a Cayman Island limited partnership, of which 30 percent will be owned by token holders and a controlling stake, 70 percent, owned by Intellisys Capital LLC, which will be based in Grand Rapids, Michigan.

Granger is CEO of the controlling company in this venture, Intellisys, and Shrem will be the CTO.

“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. 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,” said Granger.

This is Shrem’s first venture since his release from prison in June this year. He was the CEO of the now defunct bitcoin exchange BitInstant and was convicted on charges of aiding and abetting the operation of an unlicensed money transmitting business.

Intellisys Capital is expected to launch in the next few months. It plans to raise funds through the sale of an ethereum-based token called ‘ Mainstreet Investment Token’ (MIT), starting 15th January, 2017 and slated to end April 1, 2017. The MIT will be available to investors that are not U.S. residents, and to U.S. residents that are accredited investors.