Investors Have Access to Pre-IPO Technology Companies
Andra Capital, a San Francisco based venture capital firm, announced plans to issue Andra’s Silicon Valley Coin (SVC) via a Security Token Offering (STO). Collaborating with the Tezos Foundation, SVC will utilize TokenSoft’s issuance platform and be built on the Tezos blockchain.
Andra Capital’s open-ended technology fund (the “Fund”) allows investors to invest in the fund traditionally with the option to take delivery of a blockchain-based token, Silicon Valley Coin. The Fund plans to invest in late-stage, private technology companies and leverages the Tezos blockchain through SVC to open this investment opportunity to qualified purchasers in the U.S. and permitted investors around the globe. The Fund plans to combine a late-stage investment strategy, world-class partners, an innovative fund structure with transferable interests, and the latest technology to achieve its investment objective.
Tezos is a blockchain that supports secure smart contracts and has a number of key features that make it particularly well suited for high-value digital assets, such as digital securities (“security tokens”). Because some securities typically have multi-decade lifespans, digital securities must be issued on a blockchain that can smoothly upgrade and remain state-of-the-art in perpetuity – Tezos features a live upgrade process that enables long-horizon use cases. Additionally, smart contracts on Tezos offer institutional-grade security through the use of formal verification, an advanced technique used to mathematically prove properties of programs that require high levels of correctness.
Sam Raman, Head of Strategic Partnerships at Andra, stated, “The TokenSoft platform provides the technology for qualified retail investors to participate in desirable, late-stage, pre-IPO technology venture companies, and we have partnered with the best-in-class providers including the Tezos Foundation for its expertise in digital securities for the Silicon Valley Coin offering.”
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“We are thrilled to see venture capital firms embrace digital securities, which allow them to easily and compliantly offer global investors access to a historically exclusive asset class,” said Alison Mangiero, President of TQ Tezos, a technology company that builds Tezos-based solutions for enterprises and developers. “We continue to see increased adoption of the Tezos blockchain by professional teams like Andra. ” We look forward to supporting Andra Capital and TokenSoft in the years to come.”
“We’ve seen significant demand from issuers seeking to issue on the Tezos blockchain due to its institutional-grade qualities,” said Mason Borda, CEO of TokenSoft. “With Silicon Valley Coin’s availability in 50+ countries, Andra is showcasing the benefits of a globally accessible blockchain. TokenSoft takes pride in delivering an automated investor onboarding experience tailored to each jurisdiction and supporting transfer restrictions for ongoing administration.”
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