Vancouver-based InvestX has launched a growth equity fund that will accept both traditional and cryptocurrency.
The fund will be available to accredited investors in Canada, the US, and internationally. InvestX’s platform provides advisers and their clients with access to investments in late-stage private companies, and said that its investments have included Uber, Lyft, Spotify, Dropbox, DocuSign, Pinterest, and Instacart.
“We recognize that this is an unprecedented time for cryptocurrency,” said Marcus New, founder and CEO of InvestX. “At the same time, we also recognize the inherent risk that exists in the space, particularly for those investors with portfolios weighing heavily, and in some cases, solely in digital currency. Our aim is to provide access to additional investment opportunities for those with crypto holdings, while at the
same time, providing these globally-minded investors with preferential access to positions in pre-IPO global companies.”
The goal of its four-year fund is to de-risk the portfolios of the investors participating, as companies must follow the criteria as the individual investments – at least $1 billion in valuation, a growth rate of 40% or greater, and evidence of a liquidity event in 12 to 36 months.
Investors choosing to invest with cryptocurrency can have funds can transferred directly from their wallet to the InvestX wallet, with crypto converted to fiat at the spot rate using institutional crypto FX pricing. Digital wallet information is encrypted and stored on a secure offline database for repayment of invested capital and profits.