SPiCE VC to launch ICO for liquid VC fund

SPiCE VC has launched a liquid VC fund and will host an ICO to sell Ethereum-based SPiCE tokens to the public. The tokens will provide people with more security and better VC opportunities, according to SPiCE VC.

SPiCE VC is set to launch an ICO in November for its SPiCE ERC20 coins, which will use the Bancor protocol to provide immediate liquidity to all who invest in it. The SPiCE tokens are based on Ethereum.

Co-founder and managing partner of SPiCE, Carlos Domingo, said that SPiCE VC wants to use its liquidity to build on the base set by equity crowdsourcing to bring more people into the field of venture capital investing. They will take a portfolio approach to prevent customers from investing in just one particular business or ICO. Since that has as much a risk as it has a promise of profit, this move will protect the interest of investors.

The move by SPiCE VC comes after Blockchain Capital launched a similar service in March of this year. The venture capital fund went by the name of Blockchain Capital III, which was a combination of Ethereum-based BCAP token and limited partnership. This enabled investors to invest through a liquid digital token. Domingo highlighted the inspiring nature of the move by Blockchain Capital III, saying that SPiCE is looking to build on their platform even further.

There are differences, though, that make SPiCE VC’s liquid VC fund better. While Blockchain Capital raised the price of BCAP tokens by buying some tokens using part of the exit proceedings, SPiCE transfers all remaining exit funds to token holders through buybacks. Liquidity will be ensured and will be high from the onset via implementation of the Bancor smart reserve by SPiCE.

Domingo also said that the company has been looking to leverage blockchain technology to provide a better alternative for traditional venture capital funds, where people have to store their money for up to 10 years before they can see returns. By creating a liquid VC fund, they will enable more people to be a part of this type of funding. Offering liquid digital tokens, with security and assurances, will help the general public invest in it with ease and peace of mind.

This could be a ground-breaking move by SPiCE VC, and it is in no small part due to the team of advisers on board. These advisers include the inventor of JavaScript and Mozilla co-founder, Brendan Eich; Metacafe and Bancor co-founder, Eyal Hertzog; and LeWeb co-founder, Loic Le Meur. SPiCE VC’s liquid VC fund will be consistent with regulatory guidelines, and in addition to entitling token holders to all of the net exit revenue, it will challenge and do away with the existing venture capital industry.

Token holders will not only have an assurance of getting their fair share of exit funds through the Ethereum-based SPiCE tokens, but they will also get a liquid asset which they can use for all purposes, including trading.