Tue, 13/02/2018 - 11:09
Mango Startups has launched the first initial coin offering (ICO) for a VC fund in Latin America. Mango Startups will use blockchain tech to allow interested investors to make early-stage investments in emerging technology companies.
The fund will invest in a diversified portfolio of up to 24 technology startups from countries in Latin America. The aim is to offer transparency and liquidity as well as a clear exit strategy for the investors.
In recent years there is much talk about new and innovative forms of investment and start-ups ecosystems have sprung up the world over, however, amidst the hype, little attention is being paid to a couple of serious challenges that underlie the VC business model: the shrinking amount of liquidity on the exit, and the length of the illiquidity period. Mango Startups solves these problems.
"Our core mission is to democratise venture investments and reshape the traditional Venture Capital industry for startups and investors. We add value to startups and investors through a proven track record of coaching and due diligence methodology. We provide liquidity, transparency and inclusivity on the blockchain," says Ami Lebendiker, Mango Startups Co-Founder.
Lebendiker coordinates the Latin America Accelerator Network (RETEI). With over 1,000 startups, this network provides a huge pool of entrepreneurs and scalable projects to choose from. All startups in the portfolio must follow these three prerequisites: they must have graduated from a renowned accelerator program; they must be on a break-even point, and starting their growth phase; and they must provide a service platform or product that is scalable on a global level.
Only top companies will receive investment funds and will become be part of the Mango Startups Portfolio. This initiative enables investors exposure to a diversified portfolio while keeping investments liquid.
"While equity crowdsourcing brought startup investments to the public, we are hoping that Mango Startups, with its liquidity and inclusivity, will bring people to invest in a growing region like Latin America, while avoiding the inherent risk of investing into a single startup," says Fernando Arriola, CFO.
The Mango Startups Pre-ICO launches 1 March, 2018 with a 33 per cent bonus. The Ethereum-based token will be made available in cryptocurrency exchanges after the ICO.
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