UPDATE: Blockchain Capital Opens its ICO Reg.

Blockchain, FinTech, ICO News, Investing, News, Regulation | April 4, 2017 By:

The registration for Blockchain Capital’s Digital Liquid Venture Fund Token (BCAP) crowdsale is now open at TokenHub.com or via vctoken.com. The crowdsale will start on April 10.

The firm is also offering a BCAP Support Helpline on Telegram.

 

Earlier today, venture capital firm Blockchain Capital will offer $10 million US in ethereum digital tokens as a way to raise funds for additional investments, according to an offering memorandum released today.

The actual initial coin offering (ICO) is expected to follow in several weeks. The so-called “BCAP Tokens” are an ethereum-based smart contract and will only have an indirect non-voting interest in the holding company Blockchain Capital III and its Liquid Venture Fund LP.  Full details on the tokens and offering are available online.

The coins will be issued by Blockchain Capital TokenHub Pte. Ltd, an indirect, wholly-owned subsidiary of Argon Group Holdings. That company develops digital tokens powered by smart contracts operated through a digital asset placement platform, TokenHub.com

Proceeds from the token sale will fund investments in blockchain technology, cryptocurrency businesses and other ICOs, according to the company. Eligibility in the US is limited to a maximum of 99 “accredited investors,” according to the firm, in order to comply with government regulations. But anyone outside the country can buy the tokens, which will be offered through a Singapore company. That country does not regulate digital tokens with securities laws.

The BCAP Tokens will not be registered under the Securities Act or other applicable US securities laws, and “may not” be offered or sold in the US “absent registration or pursuant to an exemption from registration” from the Securities Act and other state laws.

Blockchain Capital was launched in 2013 as the first venture capital fund dedicated to bitcoin/blockchain technology, and the first to accept capital calls in bitcoin. The firms founders are Bart Stephens, Brad Stephens and Brock Pierce.