FundCoin in the first ever Initial Coin Offering (ICO) for a private equity fund

New York, September , 2017 – (Crypto Press Release) – ICOs are coming under intense scrutiny. Industry commentators have argued that many ICOs are designed to make money off investors rather than for them. And too often an IPO, not profits, is the primary goal of a company’s promoters. Along with price volatility – with some cryptocurrency prices fluctuating by 25% in a day – investor confidence in the blockchain market has been shaken.

With more than 40 years’ experience and ˆ500m AuM, asset manager Finles aims to buck this trend.
Finles Capital Management aims to raise ˆ100m using a new cryptocurrency called FundCoin in the first ever Initial Coin Offering (ICO) for a private equity fund. By investing in the blockchain industry with a diversified private equity portfolio run by professional managers the fund offers safe harbour for capital growth and preservation in the highly volatile cryptocurrency market.

Unlike most ICOs, which use cryptocurrency to raise capital for start-ups, this ICO opens up a new class of cryptocurrencies linked to a high-performance asset class rather than a single company or currency.
The pre-ICO campaign will launch on the last week of August 2017 with each FundCoin initially priced at ˆ1.00 each. 70% of the portfolio will be allocated to traditional private investments, with 30% invested across the blockchain industry – a sector set to grow at 58% CAGR by 2023. The fund is predicted to have an Internal Rate of Return (IRR) of 25%.

As FundCoin will be distributed through an ICO, this means that anyone can invest – be they retail investors or those specialising in the cryptocurrency market – in an asset class historically the preserve of institutional investors. The coins are not mined, so are finite in number, and will also be tradeable on the secondary market enabling investors to exit much more easily than traditional funds.

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www.finles.capital

For media inquires:
media@finles.capital

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