Good morning all, I am submitting our Altcoin Assembly Weekly two days early because of some prior committments this coming Sunday. Enjoy! And as always, looking forward to some great discussion around this.
Our focus this week is on Blockchain Capital.
Blockchain Capital (www.blockchain.capital
) (formerly Crypto Currency Partners) is a venture capital company that invests in blockchain related companies. It is headquartered in San Francisco, California. It was founded in October 2013 by Bart Stephens, Bradford Stephens and Brock Pierce. To say they invest in blockchain related companies is an understatement. They ONLY invest in ventures inside the space. As of now anyway, who knows if that may change in the future. They are one of the few VCs that do this.
Bart and Brad are brothers who have been involved in the financial sector for quite some time. Bart started his career at e-trade in the FinTech sector while his brother was a former hedge fund manager at Fidelity. They also ran one together for ten years.
Brock Pierce is someone that you may know as Chairman of the Bitcoin Foundation. All three combined bring a wealth of experience to the venture. Having a quick look at their advisory board, it reads names like Vinny Lingham, Bobby Lee and Charlie Lee among traditional financial corporate heavyweights. Entrepreneur and self titled Disruptepreneur, Jeremy Gardner resides at Blockchain Capital as well. He is an Augur co-founder.
They are currently invested in 40+ companies and have a proven record of exits as well. See below this post for their current holdings and past acquisitions which are publicly available.
Another part of their business is money management, usually for family offices, high net worth individuals including 25 Bitcoin CEOS.
The aim of Blockchain Capital is to invest in early stage fundraising, meaning they will meet with teams that may only have a small group of devs and a PowerPoint presentation. That’s a great position to be in since this is where the most money can be made if prospects can pass their criteria. Primarily, they want to see strong engineering teams with a proven track record of success. The opportunities need to lie in places where there is a large total available market, have an engineering advantage or a new business model that sits overtop free to use hardware/software models. Go big or go home right? Investing in A, B or C round is something they don’t ignore either.
Their ICO has happened already (April 10 to May 17, 2016) and it was successful. Their ticker is BCAP, an Ethereum based smart contract token. They raised $10MM in 6 hours, self-proclaiming they were oversold. This is 20% of the total funds they are raising. The rest will come through traditional channels and will not have a token. Though their token supply is also 10MM, valuing each $1.00. As of this (Sunday, June 4, 2017, the value of BCAP is currently $1.73.
The token represents an indirect fractional non-voting economic interest in Blockchain Capital. The sales were only available to accredited investors. Interested parties had to submit documentation to confirm their identity and net worth/income. A complete turnaround from how ICOs are usually currently conducted. They could be setting the way for how future sales happen. Keep in mind this isn’t a completely new concept. From what I know, they have been in touch with the Federal Reserve on how to structure this so I feel it wasn't done blindly or without guidance.
What they did here was disrupt the very industry they work in. And why wouldn’t they try to? It makes perfect sense. Why wait for someone else to do it? Your local cab company didn’t start Uber. Netflix isn't owned by Blockbuster. Look where those two are now. One is struggling to catch up and the other is defunct. This is a perfect example of a firm who sees blockchain technology as both a threat and an opportunity.
The funds raised from their ICO will be split 50/50. Half will be for new ventures. The remaining for follow-up investments.
Their token grants holders a portion of the profits earned by their investment fund. They wish to spread $500,000 per investment which means 20 deals at that rate. Blockchain Capital will take a 2.5% management fee from that plus a 25% performance fee calculated on the returns. The remainder of the profits will be distributed to the token holders.
Further, a token buyback provision will also enable them to purchase tokens on the open market. This would be in the event that their market value tumbles below their net asset value.
I’m curious to hear your thoughts on this. As mentioned, this isn't an ICO we're used to seeing although this isn't the first of its kind. I do not own any BCAP and I’m hoping u/laughncow
can add something here given that he met and spoke with Brock Pierce at his party in NYC during Consensus 2017.
Portfolio includes: o Coinbase – (https://www.coinbase.com
) o ABRA - (https://www.goabra.com/
) o AlphaPoint -(https://alphapoint.com/
) o Bitaccess - (https://www.bitaccess.co/
) o BitFury - (http://www.bitfury.org/
) o BitGo - (https://www.bitgo.com/
) o Blade - (http://www.bladepayments.com/
) o BitPesa - (https://www.bitpesa.co/
) o BLOCKCYPHER -(http://www.blockcypher.com/
) o Blockstream - (http://www.blockstream.com/
) o BTCC - (https://www.btcchina.com/
) o Chain - (https://chain.com/
) o Civic - (https://www.civic.com/
) o ETHCORE - (https://parity.io/
) - Led by Gavin Wood, with Fenbushi who VB is a partner in o Expresscoin - (https://www.expresscoin.com/
) o Gem - (https://gem.co/
) o Go - (https://www.gocoin.com/
) o itBit - (https://www.itbit.com/
) o Kraken - (https://www.kraken.com/
) o LedgerX - (https://ledgerx.com/
) o Noble - (http://noblex.io/
) o PEERNOVA - (http://peernova.com/
) o Ripple - (https://ripple.com/
) o SFOX - (https://www.sfox.com/
) o SNAPCARD – (https://www.snapcard.io/
) o Stampery - (https://stampery.com/
) o Stem - (http://stem.is/
) o String - (http://string.technology/
) o TIERION - (https://tierion.com/
) o WAVE - (www.wavebl.com/
) o Xapo - (https://xapo.com/es/
) o zenbox o zipzap - (http://zipzapinc.com/
) o ShapeShift - (https://shapeshift.io/
) o Ox - (https://0xproject.com/
Exits include: o Authy – Acquired by Twilio o Bex.io - Acquired by Klinch o Bitnet - Acquired by Rakuten o ChangeTip - Acquired by Airbnb o Coinsetter - Acquired by Kraken
Side note: Had you not participated in the ICO for whatever reason, they also have an AngelList network that allows smaller investors to get in on their deals with as little as $1K. I think this is smart on their part to extend and flex their financial reach. You can visit their page here, (https://angel.co/blockchain-capital
About Bitaccess. Bitaccess was established in 2013 and is based in Ottawa, Ontario, Canada. One of the company’s key principles is innovation. It believes that if companies have access to various financial alternatives, they will experience rapid growth. The company therefore makes BTMs, or Bitcoin Automatic Teller Machines. Looking to sell bitcoin for cash? Start the process at cash.bitaccess.co! Send bitcoin from your phone to the BTM remotely and skip the wait. Cash will be ready and reserved for you when you visit the BTM. Use https://app.bitaccess.co to scan your ID using your smartphone to save time and register before you arrive. WARNING! The Bitcoin Halving Explained Unlike fiat currencies, which can be printed by central banks at will, the supply of bitcoin is limited algorithmically. There will only ever be 21 million bitcoins Find location of BitAccess Bitcoin ATM machine in Tulsa at 223 S Utica<br />Tulsa, OK 74104<br />United States BitAccess has also taken a different approach to their machines, presenting them as Bitcoin Teller Machines, or BTMs. According to a report on CoinDesk, BitAccess co-founder Haseeb Awan said that his company has generally shied away from investors, wary of the strings that come with such deals. But the Y Combinator offer is different.
Every time we send a bitcoin transaction, we pay a fee relative to its size. Strangely, this has almost nothing to do with how much money is being sent -- the blockchain world just isn't that simple! BitAccess - bitcoin teller machine We make Bitcoin simple. Explore our BTMs The BitAccess BTM is specifically built for Bitcoin with state of the art technology. Recycler Cash deposited into the ... The main function of a Bitcoin calculator is to compute how much processing power it will take to generate Bitcoins with a given hardware setup. Because of the deterministic nature of all the ... Some Known Facts About Bitcoin Return Calculator - Investment on Any Date and Inflation. This suggests there are a lot of bitcoins waiting to be discovered. There are 3 ways to obtain bitcoins ... Pls contact [email protected] for excel. Just Remove decimal point and put actual number . ***** 100 Crptocurrency Gambling online https://goo.gl/QepNkV BTC BCH ETH LTC BCN XRP DOGE BCN NEO ...