- EQUI Global, blockchain Venture Capital fund, has been launched
- The fund is backed by Apple Co-founder Steve Wozniak
- This comes following earlier comments by Wozniak comparing blockchain to the dot come bubble
On Monday, the 15th of October 2018, blockchain-focused venture capital fund EQUI Global launched and released details about its management and ownership. Perhaps the most interesting detail about this new firm is the fact that Steve Wozniak was announced as a co-founder. Wozniak is probably best known as a co-founder of Apple.
Wozniak had spoken earlier this year about wanting to get involved in blockchain. EQUI, which is a Venture Capital Fund that specializes in Blockchain, seems to be a good fit.
One of the main goals of EQUI is to promote investments on outside cryptocurrency exchanges by use of EquiTokens. There is also the plan to promote non-traditional investments to investors.
The backend behind EquiTokens is based on Ethreum.
High end clientele
According to reports, the firm plans to target ‘sophisticated’ investors who are interested in Venture Capital funds. One benefit to the system to be used by EQUI is that it will allow easy liquidation of token assets by the use of cryptocurrency exchanges.
It is also being reported that their clientele will mostly center around technology while 20% of their clientele will be from sectors such as real estate and art.
While new, the company already has 20 companies it has partnered with, though they are not launched yet. Wozniak has said that the goal of the firm is to “seek, support and fund the blockchain and tech stars of tomorrow.”’
Wozniak choosing to be involved in this project is significant as the businessman is very picky about his projects. He has famously claimed that he gets dozens of business proposals each day but that this is the second time in two decades he is actually acting on any of them.
This vote of confidence will certainly help the company’s reputation.
A year in the making
The company has, according to its official statement, existed for almost a year now. During that time, its business model was being perfected.
In its initial stages, there were plans to launch the company as an ICO that would make use of EquiToken to raise capital for individual projects.