VentureCrowd
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| Company type | Private |
|---|---|
| Founded | 2013 |
| Headquarters | , |
| Website | venturecrowd.com.au |
VentureCrowdis an Australian multi asset classcrowdfundingplatform, headquartered inSydney,includingequity crowdfunding,property crowdfunding and debt-based crowdfunding. VentureCrowd completed the largest Australian equity crowdfunding raise, $4.2 million, for taxi-booking and payment software company Ingogo in May 2015.[1]This deal is ranked 8th on theList of highest funded equity crowdfunding projects.This deal is ranked 8th on theList of highest funded equity crowdfunding projects.In June 2016, VentureCrowd raised more than $900,000 for a Western Sydney residential project[2]- a 35-lot development in Riverstone East, in partnership with the property developer ClearState. In August 2016, a second project raised $1,700,000[3]for a 44-lot development project in Austral.
History[edit]
VentureCrowd was founded in October 2013 in Sydney by Australian alternative investment management company Artesian.[4]VentureCrowd launched its first startup equity crowdfunding deals in October 2014.[5]and property crowdfunding deals in partnership withMirvacin April 2015.[6][7]
Equity Crowdfunding in Australia[edit]
Currently Australia does not allow equity crowdfunding for the general public but only for wholesale (sophisticated) investors (whom are defined as investors holding net assets in the amount of $2.5M or achieve a gross income of $250,000 in the last 2 financial years).[8]
The Australian federal government's now dissolved Corporations and Markets Advisory Committee (CAMAC)[9]released its report on equity crowdfunding in May 2014.[10]The report proposed a regulatory regime specifically designed for and to facilitate crowd sourced equity funding (CSEF) in Australia.[11]The CAMAC report recommended Australia introduce legislation allowing retail investors to invest up to $10,000 a year in start-ups via equity crowdfunding, with a maximum of $2,500 in each company. It suggested companies be allowed to raise up to $2 million per year on such platforms.
In the 2015 Federal Budget, as part of its small business package, the government announced that it would make it easier for small businesses to access capital by allowing crowd-sourced equity funding and by simplifying related reporting and disclosure requirements.[12]Although details on the specific model have not yet been released, Treasury has set aside $7.8 million in funding over four years to enable theAustralian Securities and Investments Commission(ASIC) to implement and monitor the regulatory framework to facilitate the use of crowd-sourced equity funding when it is unveiled before the end of 2015.
See also[edit]
References[edit]
- ^"Ingogo smashes Australia's equity crowdfunding record".BRW.Retrieved29 May2015.
- ^"Crowdfunding and real estate align on Sydney development".Financial Review.21 June 2016.Retrieved18 January2017.
- ^"VentureCrowd raises another $1.7m for a residential project".Financial Review.9 August 2016.Retrieved18 January2017.
- ^"Artesian - Home Page".artesianinvest.com.Retrieved7 July2015.
- ^"VentureCrowd launches with three start-ups ready for equity crowdfunding".BRW.Retrieved4 September2014.
- ^"VentureCrowd to offer property investment from $100".The Australian.Retrieved29 April2015.
- ^"Mirvac joins the property crowdfunding rush".BRW.Retrieved29 April2015.
- ^"Law changes to crowd funding needed to kickstart Australian innovation".The Age.Retrieved29 October2014.
- ^"Equity crowdfunding review last hurrah before CAMAC axed".BRW.Retrieved16 May2014.
- ^"CAMAC" Crowd Sourced Equity Funding Report "&" Guide to the Crowd Sourced Equity Funding Report "".CAMAC.Retrieved13 July2015.
- ^"Government review recommends equity crowdfunding".BRW.Retrieved5 June2014.
- ^"Federal budget 2015: Hockey gives amber light to crowdsourced equity funding".AFR.Retrieved12 May2015.
External links[edit]
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