Investing Platform Republic To Tokenize Equity In Private Companies Using Algorand’s Blockchain

Blockchain, Innovation, News | March 18, 2020 By:

Republic, an AngelList spinoff that crowdsources investments in highly vetted private startups, has announced its proposed initiative to build a digital security on Algorand‘s blockchain platform.

Founded in 2016, Republic is a private investing platform and technology services provider made up of numerous operating entities, that lets anyone invest in early stage companies. Republic’s crowdfunding and private syndication arms have raised capital for over 170 startups in just three years, facilitating $67.5 million of investment last year alone. In addition, with nearly 500,000 users, Republic’s platform has quickly established itself as a pioneer in the growing private investment space.

Algorand is the inventor of an open-source, pure proof-of-stake blockchain protocol that enables the development of scalable blockchain-native solutions for real-world use cases. Algorand aims to power a financial evolution by enabling the creation and exchange of value, building new financial tools and services, while providing responsible privacy features.

Republic is working to build a digital security on Algorand’s blockchain to give investors novel exposure to the Republic Ecosystem’s future success. The two parties believe that a digital security built on the Algorand blockchain will bring excitement and energy to the digital security space, while onboarding users to the new asset class and the token ecosystem.

“Algorand provides incredible strategic value and support to the Republic Ecosystem,” said Kendrick Nguyen, Co-Founder of Republic. “We are excited to be using their cutting edge blockchain technology to enable the creation of a new dynamic digital asset.”

W. Sean Ford, COO of Algorand, said that Republic’s mechanism of allowing anyone to invest in rigorously vetted startups across an array of industry sectors demonstrates a unique approach of leveling the playing field for entrepreneurs and investors of any size.

“This mission is very much aligned to the Algorand platform, which is an open blockchain where anyone can participate,” Ford said. “We look forward to seeing Republic use an advanced blockchain as they bring even broader access to their diverse community.”