Circle is Aiming to Raise Capital Worth $100M Through Its SeedInvest Crowdfunding Platform
Circle is looking to hire a general partner to come up with a venture capital fund of $100 million. A recent job posting on LinkedIn from Circle indicated that the general partner would be liable for managing and raising the fund.
This will be in partnership with the senior leadership team (SeedInvest). The partner shall come up with an investment thesis and drive it. The thesis will target SeedInvest’s investors who are quite a number to optimize the returns. That is a network of around 250,000 investors.
The incoming partner will also be running daily activities of the fund. Such operations include sourcing investment opportunities, huge fundraising initiatives, and supplementing the investment team.
Circle through the LinkedIn post mentioned that they are looking for a partner with a principal or one who has a partner-level experience at a renowned venture firm. The partner should also be having a strong relationship with the funder community.
The New York-based SeedInvest was founded in 2012 and till now it has funded over 150 start-ups. The company was categorized as the 4th rapid growing financial institution by Inc. Magazine in the United States.
Circle acquired SeedInvest in March 2019 which led to the company expanding its activities such as issuing tokenized securities and supporting cryptocurrencies.
SeedInvest was given the green light to provide secondary shares trading earlier this year. This was of course, by the U.S Financial Industry Regulatory Authority.