SharesPost Marketplace to Provide Compliant Secondary Liquidity for Security Tokens
The SharesPost Alternative Trading System executed its first secondary transaction in the “BCAP” security tokens issued by Blockchain Capital, the pioneer and premier venture capital firm focused exclusively on the blockchain technology sector. As a result, SharesPost, the leading provider of liquidity to the private growth asset class, has become the first marketplace to enable both secondary trading and custody of digital securities. Accredited investors can now trade digital securities and custody them in online brokerage accounts on the SharesPost Marketplace.
SharesPost Founder and CEO Greg Brogger said: “This is an important milestone for the digital securities ecosystem. Now companies can efficiently raise capital and provide liquidity globally by leveraging blockchain technology in a way that complies with securities laws. We are very excited to be connecting the more than 50,000 institutional and individual accredited investors using the SharesPost marketplace with companies and funds like Blockchain Capital that are leading the way. We believe that over time digital securities will join preferred and common stock as the mainstays of the private capital market.”
SharesPost’s unique combination of primary issuance, secondary trading and digital securities custody is possible because SharesPost is a FINRA registered self-clearing broker-dealer and an SEC registered Alternative Trading System. Currently, SharesPost supports Over-The-Counter (OTC) trading of digital securities, but has announced plans to add real time trading via a fully electronic order book in the near future. Client digital securities are custodied in SharesPost brokerage accounts where users can also deposit other unregistered securities, including “unicorn” equities. SharesPost also provides investors access to its institutional grade research and indices focused on digital assets and digital securities issuers.
Blockchain Capital Co-founder and Managing Partner, Bart Stephens said, “We are pleased to announce trading of the BCAP token on the SharesPost platform. SharesPost is unique in its support of private companies and funds because they offer a comprehensive platform on which our investors can interact to enable liquidity. SharesPost has traditionally endeavored to provide the Investor community with a wide variety of information, data and analysis on issuers and assets. We’re hopeful that their platform will be a resource to our investors and allow us to deepen our relationship with them over time.”
SharesPost has been a pioneer in the private capital markets for nearly a decade. As private tech companies elected to remain private longer, SharesPost created the first global online securities marketplace to provide them with liquidity. Now, SharesPost is evolving its proven securities trading technology and expertise to put its clients at the forefront of the next wave of capital markets innovation that blockchain technology and digital securities represent.
For more information on SharesPost visit sharespost.com/tokens.
About SharesPost, Inc.
SharesPost’s mission is to create liquidity for the private growth asset class. In 2009, SharesPost launched the first online secondary market for private technology company shares. Since then, SharesPost has connected thousands of buyers and sellers in more than $4.5 billion worth of transactions in the shares of more than 250 leading technology companies.
The SharesPost platform now also enables clients to access a variety of private market investment and liquidity solutions including (i) research and data on leading private technology companies, (ii) the SharesPost Private Growth Index, (iii) the SharesPost100 Fund, a registered closed-end interval fund providing all investors with easy access to the asset class, and (iv) SharesPost Lending, which enables private company shareholders to borrow against their shares. In 2018, SharesPost announced plans to integrate trading of digital securities into the SharesPost platform.
SharesPost is a FINRA-registered broker-dealer, SEC registered Alternative Trading System and Registered Investment Advisor. For more information, please visit SharesPost.com.
About Blockchain Capital:
Founded in 2013, Blockchain Capital is one of the earliest and most active investors in the blockchain technology industry and the crypto ecosystem. Blockchain Capital has raised and deployed four venture funds, including the first ever token offering of a venture fund (the BCAP tokens) in April of 2017. The firm is based in San Francisco and was founded by serial entrepreneurs and Silicon Valley investors Bart Stephens and Brad Stephens. To learn more, please visit www.blockchaincapital.com and follow us on Twitter @blockchaincap.