I'm Viram Shah, Co-Founder & CEO at Vested Finance. Ask me anything!
Hi Grapevine,
I'm Viram, currently building Vested Finance. I founded Vested in 2019 during my MBA at Haas, wanting to make global investing as easy and acces...
ZestySushi
Can we raise from equity tokens?
I am building something, say like a social network, for the consumer where they will use it. Now, I don't feel good raising from any VC because of their heinous nature,
Can I raise pre-seed funding for my startup via equity as tokens worth 1 lakhs- 5 lakhs for my own customers to purchase and minimum hold for 3 years as investment? (Given the value proposition and vision aligns with their customers)
Is this possible? Ofc. Yes.
Questions: Is this legal? If not, can it be made legal via some procedure like crowd funding? Unlike, ICO.
13mo ago
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GroovyNoodle
Stealth13mo
That's what angels are for. What you're seeking (naming as equity tokens) is an ico or crowdfunding.
If you don't want to go that route, best option for you is to find angels (individuals or syndicates) or do a friends and family round
SillyJellybean
Stealth13mo
Check out tyke and other similar Platforms, there's also equity list.
ZestySushi
Zomato13mo
How do they operate? I checked. Should there be a lot of paper work and formal exchange of papers? What I seek is as easy as any tokens, pay and receive equity tokens for my customer.
SillyJellybean
Stealth13mo
Tokens aren't as easy either. Lots of documentation and international incorporation required for better taxation. Getting it listed on exchanges after that which is also difficult.
SwirlyWaffle
Stealth13mo
Too shady bro. Avoid it. Rather deal with 2-3 shitty VCs than 100s of disgruntled retail investors.
ZestySushi
Zomato13mo
@salt what is your view on this?
ZestySushi
Zomato13mo
@shallowspawn India is in-dept to your mindset. Thanks and to all people out there. You have to understand that the one who raises questions or shares ideas that don't lack creativity or intelligence. I knew these problems people pointed at here and even more. The thing is nobody talked and explored how it would impact our ecosystem.
If I remember Tata Steel, yes the industry was revolutionary, raised from people to build factories, along with personal capital.
Just bcz Tata was trusted and people trusted to have it, today we are living in today's dynamic modern India. That's the power of common people participating in investment for bigger things than them.
These minute VCs depending on foreign capital and few poor Angels, who somehow try to support can never fulfill the requirements of innovation we need. It is common for people who have access to bets on cricket but not on startup clearly shows our inferiority and government policies failure.
DancingDonut
Stealth13mo
Raising from equity tokens? Fancy term for selling dreams. Legal? Doubtful. Consult a lawyer, not a social network. And VCs? Sharks in suits.
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