VC Fund Blockchain Capital Launching Initial Coin Offering

VC Fund Blockchain Capital Launching Initial Coin Offering
This constitutes the third effort to raise funds for Blockchain Capital, with the most recent attempt being a $13
million project to generate funds for a new project with a focus on bitcoin and blockchain startup efforts.
The company plans to initiate the sale via an ICO, and tokens will represent shares of a new fund
that is being created and which will be called Blockchain Capital III Digital Liquid Venture Fund, LP.
This type of token sale is a first for venture capital funds and represents the latest in a trend among token creators.
Digital currency investors should be on the lookout for a new token from venture capital fund Blockchain Capital.
Blockchain Capital managing partner Brock Pierce indicated to CoinDesk
that his company’s ICO would assume a different approach from other recent token sales.
The firm will raise funds through the creation and sale of a blockchain-based token called “BCAP,” according to CoinDesk.
In addressing legal questions head-on, Blockchain Capital believes
that its token sale will give potential investors better access to information about risk, providing a more transparent process and, hopefully, better access to capital.
Blockchain Capital revealed to the public that it would sell the BCAP token via an ethereum-based contract.
Proponents of the token model believe that it can unlock new sources of capital, while detractors believe
that it is especially prone to fraud, mismanagement, and other potential pitfalls.

from WebHits.IO Blog http://blog.webhits.io/vc-fund-blockchain-capital-launching-initial-coin-offering/