Andra Capital, a venture capital firm headquartered in San Francisco, announced to issue Silicon Valley Coin token through an STO (Security Token Offering). With Tezos Blockchain as its core foundation, SVC will make use of TokenSoft’s issuance platform.
Andra Capital’s STO will let investors invest in the funds the traditional way with an option to take SVC, a blockchain-based token as the asset. Touted as the open-ended technology fund, The Fund, in a later stage, is proposed to invest further in privately-owned tech firms. To woo permitted investors across the globe and in the United States, SVC will leverage Tezos blockchain architecture to open investment opportunities.
“The TokenSoft platform provides the technology for qualified retail investors to participate in desirable, late-stage, pre-IPO technology venture companies, and we have partnered with the best-in-class providers including the Tezos Foundation for its expertise in digital securities for the Silicon Valley Coin offering,” said Sam Raman, Andra’s Head of Strategic Partnership
Tezos is a blockchain-backed token supporting smart contracts protocol with features making it ideal for valuable digital assets, security tokens, for example. It sports a formal upgrade mechanism that adopts with emerging technology enabling long-term sustainability. And since some securities have a longer lifespan, issuing it on a blockchain that can be upgraded easily becomes a necessity.
Andra Capital took it to Twitter to break the announce.
— AndraCapital (@AndraCapital) January 22, 2020
Alison Mangiero, President of TQ Tezos said, “We are thrilled to see venture capital firms embrace digital securities, which allow them to easily and compliantly offer global investors access to a historically exclusive asset class.”
“We’ve seen significant demand from issuers seeking to issue on the Tezos blockchain due to its institutional-grade qualities,” said Mason Borda, CEO of TokenSoft.
Initially, SVC will be available for investors in 50+ countries including U.S. Both TokenSoft and Tezos are extending their support to make the STO successful and easily feasible.