Andra Capital Announced A Token Offering For Its Silicon Valley Token
The venture fund Andra Capital, announced on August the 2nd that it starts the offering of its security token backed by assets – also known as Silicon Valley Coin (SVC). The sale is opened for qualified investors in the United States and permitted investors from other parts of the world.
The main intention behind this token offering is to invest in shares of private pre-IPO technology companies, which represent a more than $500 billion dollars asset class.
The private pre-sale has already been completed with a very successful result. After it the company issued its Private Placement Offering Memorandum. Now is opening the offering of over 1,000,000,000 Silicon Valley Coins. It is important to mention that the Andra Fund is tokenized using the Ethereum network with the Silicon Valley Coin. Each of the tokens represents an ownership interest in the Andra Fund.
Additionally, the purchases of the token can be made in US dollars, Bitcoin (BTC), or Ethereum (ETH). The company would invest over 80% of the Fund’s capital in leading late-stage private technology companies, but more specifically, those in funding stages Series C or later.
Andra would use as much as 20% of the Fund’s capital with the idea of making opportunistic investments on a discretionary basis. This can also include buying its own SVC tokens. Other opportunistic investments may be related with blockchain companies, earlier stage enterprises and more. Hermann Liu, Andra Capital’s Managing Partner, commented on the matter:
“We believe Andra Capital will become a leader in the space due to our strong deal flow, proprietary selection criteria, and screening of late-stage technology companies. The Andra team has the ability to actively construct a uniquely risk-adjusted and diversified portfolio.”
Andra is committed to offer the best-in-class professional management, oversight and transparency. In order to achieve this, Andra partnered with DLA Piper as legal counsel, Deloitte & Touché LLP as the Fund auditor. Other companies contacted were Apex Fund Services in charge of the administration of the fund and an independent valuation and compliance firm.
Moreover, the company is actively working in order to extend the use of the Silicon Valley Coin by contacting exchanges and providing liquidity. This will allow the token to reach other global investors. Haydar Haba, Managing Partner at Andra Capital, said:
“We are leveraging the power of the blockchain to democratize venture capital via our Silicon Valley Coin. Andra Capital’s goal is to provide access to late-stage high-growth pre-IPO technology companies by combining our investment strategy, technology, and world-class service providers.”
The initial price per SVC will be $1 dollar and the minimum invested amount is $1,000 dollars. The company may issue additional SVC at current market price after the deployment of the initial capital for subsequent investments to maintain price stabilization and avoid market manipulation. If you want to know more about Andra Capital you can do it here: https://www.andracapital.com/