Funders got Funded!
Kickstarter may have the market cornered when it comes to coverage on this blog, but while you sit around distracted by all the interesting projects arriving on the scene, how can you possibly stay abreast of all the latest developments in crowd funding news? Well – we’re here to help; when not sitting around drooling over the latest comic books and board games to land on the front page of Kicktraq, we scour the internet for all things crowdfunding. While you sit shopping, who funds the funders?
Turns out, it’s venture capital, and this week its made big news.
(Fund The Wardenclyffe Horror!)
Wired wrote an interesting story last week, about a new crowdfunding site to hit the scene: Funders Club. This one isn’t out to sell you copies of a retro video game or indie comic though. This one wants you to make serious investments ($1000 minimum) into tomorrow’s startups. “Our philosophy is that it should be as easy to invest in private companies as it is to invest on E-Trade for public companies,” says co-founder Alex Mittal. The aim of funders, is to make it easy for new people to explore the soon-to-be deregulated market of micro venture capital.
I would love to tell you more about the company, or leave you with more than just Wired’s main point: they raised $6,000,000 of private equity from investors. Sadly though, i can’t. In what is a very counter intuitive move, this funding site that needed funds to make itself ready for a surge of interest won’t let you see their website as a non accredited investor while interest is, umm – surging. I could understand it if they assigned me some kind of trial account, or if they didn’t let me invest any money until it was actually legal to do so, but making a crowd funding website for the masses, and then not letting the masses take a look at said website? That doesn’t say much for forethought on the subject.
Currently I am on their waiting list; if I receive any further developments on the subject, rest assured that I will share them with you, my loyal readers.