[ANN] [BCAP] THE FIRST DIGITAL LIQUID VENTURE FUND - BLOCKCHAIN CAPITAL FUND

[CarloP]

The project is interesting but there's not much activity in this thread how come mate?

We will be releasing more information in the offering memorandum on April 3, and then ICO will open for investments on April 10. So far not that much information is available, and that's why this thread is not so active. Also, we are not running a bounty or signature campaign and this is another reason.

@Marina Is there any investor limit number in ICO?

Hi Carlo - yes, but only for US accredited investors (99 in total). For the rest of the world there is no limit on the number of investors.

OK That's good. I am waiting news. Thank you.

[cryptococcus]

So for non US investors it is sufficient to register at tokenhub? Or is it mandatory to go through the (painful) process to become an accredited investor by the rules of the SEC?

[coolmyrig]

i'll do indonesian translation if needed

And I can do Chinese translation,if needed.:)By the way,is there any diffirent from this project to the TaaS project,you can check it in my signature...

[meeekz]

Could you please describe your marketing strategy e.g., pr, promotional, competitive and channel...
  How will you attract and retain customers/investors?


Does the fund pay dividends?

[ajhodge7]

How will the per year 2.5% management fee be collected?  If I have 10 BCAPs how will the 2.5% be charged?  Is this taken from some sort of dividend that will be dispersed quarterly or yearly?  Also, is the management fee from profits or from assets under management?  It would seem it would only be charged on dividends...in that case what if no dividends?  Does the 2.5% management fee only apply in profitable years?  Would be nice to see a company put their money where their mouth is so to speak for once.  

I like the idea of a fund entering the crypto space, but the reasons to do so don't seem to jive.  Why not make it public in the traditional sense?  Why just an ICO.  Seems that Blockchain Capital (BC) needs an influx of money to invest(?)...and if BC is established shouldn't there be enough happy investors lined up to contribute more?  Let's be honest, the goal is not to let the little guy enter the VC market, we all only do things to make money (which I'm totally for! Don't get me wrong).  I'm just missing something here.  The real WHY is something I don't see here.  Almost feels like BC is piggybacking the success of ICOs to have an influx of cash to invest...

I don't mean to sound cynical here, just trying to understand.

[xtyling]

How to invest ? What are the options available ?

[CjMapope]

How will the per year 2.5% management fee be collected?  If I have 10 BCAPs how will the 2.5% be charged?  Is this taken from some sort of dividend that will be dispersed quarterly or yearly?  Also, is the management fee from profits or from assets under management?  It would seem it would only be charged on dividends...in that case what if no dividends?  Does the 2.5% management fee only apply in profitable years?  Would be nice to see a company put their money where their mouth is so to speak for once.  

I like the idea of a fund entering the crypto space, but the reasons to do so don't seem to jive.  Why not make it public in the traditional sense?  Why just an ICO.  Seems that Blockchain Capital (BC) needs an influx of money to invest(?)...and if BC is established shouldn't there be enough happy investors lined up to contribute more?  Let's be honest, the goal is not to let the little guy enter the VC market, we all only do things to make money (which I'm totally for! Don't get me wrong).  I'm just missing something here.  The real WHY is something I don't see here.  Almost feels like BC is piggybacking the success of ICOs to have an influx of cash to invest...

I don't mean to sound cynical here, just trying to understand.

hmm, interesting thoughts actually.
See an ICO allows them to create a token at a cost of next to nothing to give anon people.
This ONE act alone can save them in court. Having the traditional VC route, EVERYTHING goes by the SEC, if people lose out, there will be hell to pay.
Crypto ICOs offer lowest liability possible, as the legal requirements to "fulfill your obligations" to investors are nearly ZERO :/

[docker]

How will the per year 2.5% management fee be collected?  If I have 10 BCAPs how will the 2.5% be charged?  Is this taken from some sort of dividend that will be dispersed quarterly or yearly?  Also, is the management fee from profits or from assets under management?  It would seem it would only be charged on dividends...in that case what if no dividends?  Does the 2.5% management fee only apply in profitable years?  Would be nice to see a company put their money where their mouth is so to speak for once.  

I like the idea of a fund entering the crypto space, but the reasons to do so don't seem to jive.  Why not make it public in the traditional sense?  Why just an ICO.  Seems that Blockchain Capital (BC) needs an influx of money to invest(?)...and if BC is established shouldn't there be enough happy investors lined up to contribute more?  Let's be honest, the goal is not to let the little guy enter the VC market, we all only do things to make money (which I'm totally for! Don't get me wrong).  I'm just missing something here.  The real WHY is something I don't see here.  Almost feels like BC is piggybacking the success of ICOs to have an influx of cash to invest...

I don't mean to sound cynical here, just trying to understand.

hmm, interesting thoughts actually.
See an ICO allows them to create a token at a cost of next to nothing to give anon people.
This ONE act alone can save them in court. Having the traditional VC route, EVERYTHING goes by the SEC, if people lose out, there will be hell to pay.
Crypto ICOs offer lowest liability possible, as the legal requirements to "fulfill your obligations" to investors are nearly ZERO :/

Geez you almost made me change my mind mate, need to think more about this

[MellowYellow14]

Very cool idea and project. Brock will help bring more credibility to this industry.

[ETCethereum]

you can explain about fee 2.5%, and 25% to management fee

[kmb448]

Do you anticipate knowing what form(s) of documentation we may submit to you to successfully satisfy requirement of accredited investor status? I.e. Will a US W-2 form suffice? Having read into it there's no uniform standard across various equity issuers. Wondering specifically because I want to ensure there is enough of a time window to gather sufficient documentation to get verified before the sale goes live.

[TOMOAKI12345]

it's interesting and looking forward to seeing how the token holder will gain the appreciation from the GP !

[jacaf01]

I want to know when the tokens will be available for trading on exchanges, someone told me one year after the ICO, is this true?

[miramare]

Just wait for 3rd April for more details.

[kmb448]

Will do. Thank you.

[icorating]

Hello all,

We are the ICOrating team.

We’re creating the most detailed database of every company that is having or planning to have, an ICO. We’re also developing ratings and analytical reports that will increase potential investors’ awareness of such companies.

We’re happy to announce that BLOCKCHAIN CAPITAL FUND is now listed on our website. Check it out here http://icorating.com/project/68/Blockchain-Capital-Fund

We appreciate any feedback. Please feel free to contact us if there are any additions/corrections you want to insert.

[jacaf01]

I want to know when the tokens will be available for trading on exchanges, someone told me one year after the ICO, is this true?

This is indeed the case but only for US accredited investors. For the rest of the world investors the tokens will be available to trade around mid May.

Thanks for clarifying this.

I was told if the team is looking to raise $100 million, that they will get it with ease, because the team is credible and know what the are doing unlike a lot of developers in the space that don't understand the business aspect of their business.

[Sam San]

This project will be the prediction of the acquisition of BTC in the system of the Wings?

[ajhodge7]

How will the per year 2.5% management fee be collected?  If I have 10 BCAPs how will the 2.5% be charged?  Is this taken from some sort of dividend that will be dispersed quarterly or yearly?  Also, is the management fee from profits or from assets under management?  It would seem it would only be charged on dividends...in that case what if no dividends?  Does the 2.5% management fee only apply in profitable years?  Would be nice to see a company put their money where their mouth is so to speak for once.  

I like the idea of a fund entering the crypto space, but the reasons to do so don't seem to jive.  Why not make it public in the traditional sense?  Why just an ICO.  Seems that Blockchain Capital (BC) needs an influx of money to invest(?)...and if BC is established shouldn't there be enough happy investors lined up to contribute more?  Let's be honest, the goal is not to let the little guy enter the VC market, we all only do things to make money (which I'm totally for! Don't get me wrong).  I'm just missing something here.  The real WHY is something I don't see here.  Almost feels like BC is piggybacking the success of ICOs to have an influx of cash to invest...

I don't mean to sound cynical here, just trying to understand.

hmm, interesting thoughts actually.
See an ICO allows them to create a token at a cost of next to nothing to give anon people.
This ONE act alone can save them in court. Having the traditional VC route, EVERYTHING goes by the SEC, if people lose out, there will be hell to pay.
Crypto ICOs offer lowest liability possible, as the legal requirements to "fulfill your obligations" to investors are nearly ZERO :/

Geez you almost made me change my mind mate, need to think more about this

Thank you, you are raising some very valid points.

1. This ICO will be one the first ICOs to be compliant with US securities laws, so actually Blockchain Capital makes a very significant step to be compliant and regulated. Fund’s net asset value (NAV) will also be regularly reported. The offering memorandum in compliance with Regulation D and Regulation S of US Securities laws is expected to be published on April 3rd.

2. Only a relatively small portion of Blockchain Capital’s third fund is raised via an ICO. If you read the some of the news articles below the target for the fund overall is $50m, with only $10m coming from the ICO. So the bigger portion of funds is targeted to come from traditional limited partner route. ICO is the way for Blockchain Capital to practice what they preach and disrupt their own industry.
http://uk.reuters.com/article/us-usa-blockchain-funding-idUKKBN16N1Z8
https://www.forbes.com/sites/laurashin/2017/03/16/want-to-be-a-vc-this-firm-is-making-it-possible-for-everyday-people/#64f598397b70

3. The fees are in line with industry standards for VC funds. 2.5% management fee will be charged regardless of profits. 25% performance fee will be charged on profits, and that’s the fund manager’s compensation for providing a unique access to opportunities in the blockchain space that are otherwise not available to ordinary investors. For example, it is very difficult for an individual investor to get exposure to such companies as Bitfury, Xapo, Coinbase etc, and investing through BCAP gives you this opportunity. Please wait for the offering memorandum to learn about the exact mechanism of how the fees will be charged. There will be no dividends, as any profits will be reinvested into the fund, thus affecting NAV and hopefully token price in the aftermarket, as NAV will serve as a benchmark for it.

Thanks, Marina_T, for the response.

Follow up questions..

1) If there are no dividends, how will you collect the 2.5% fee?

2) Where does the other 75% of the profit go if the manager (Blockchain Capital) is taking 25%?  Is this the amount that is reinvested into the fund?

3) You say $50 million was already invested and the ICO will be $10million.  The investors during the ICO will receive a token (of value).  What do the investors in the $50 million "group" receive?  Do they get dividends or a stake in the company?  Do they get some of the 75% or the 25%? 

Thank you for your response in advance.  I'm just trying to understand the incentives for BC to allow the guppies to swim in the open ocean.  I get BC wants to "disrupt the industry", but nobody wants to do it unless they can make a buck or two...everybody's time is money.

-AJ

[kmb448]

Hello all,

We are the ICOrating team.

We’re creating the most detailed database of every company that is having or planning to have, an ICO. We’re also developing ratings and analytical reports that will increase potential investors’ awareness of such companies.

We’re happy to announce that BLOCKCHAIN CAPITAL FUND is now listed on our website. Check it out here http://icorating.com/project/68/Blockchain-Capital-Fund

We appreciate any feedback. Please feel free to contact us if there are any additions/corrections you want to insert.

We appreciate this one. Thank you for the service! Will read.


Thank you for all the correspondence thus far Marina. Let me ask you a reiteration of what I and another user had asked you guys in regard to performance fees specifically:


For comparative purposes, TaaS project claims they will return 50% of fund profits to equity holders quarterly, with a remaining 25% being reinvested into the fund again. Short of stating it directly, they seem to omit what happens to the remaining 25% of fund profits which I could only assume would go to the fund managers. Essentially equivalent to a performance fee unless I am told otherwise.

The rough conclusion I reach from that offering is that you can expect to take away 50% of quarterly gains on your initial investment. Hopefully boosted by whatever accretive gains come from a 25% fund reinvestment. Fine.



Based on your team's offering description, it would sound like you are only exacting the 25% performance fee on profits gained, with the remaining 75% going back to equity holders. Aside from  the 2.5% fee on initial equity purchase of course. Would this be correct or am I missing something?


In all, somewhat more appreciative of the fact that your team is at least disclosing performance fees in an up front fashion, instead of users having to request that a missing 25% be spelled out (TaaS). However, we still want a little more light shed on just what happens with the 75% of remaining profit.