[AMA] Join us at 6:30pm EST with Charlie Shrem and Jason Granger about Mainstreet Fund - the 1st securitized blockchain asset that pays out cash flow distributions from the companies in the portfolio.
Hey All!
We're excited to be listing our token on OpenLedger - the distributed exchange built on BitShares!
The AMA starts at 630pm, but feel free to start posting your questions now!
Mainstreet Investment, LP, a Cayman Islands limited partnership, is issuing a digital token security, the Mainstreet Investment Token (MIT), as part of an overall private equity investment fund that will be powered by the Ethereum blockchain. The fund’s general partner, Intellisys Capital, LLC, a Cayman Islands limited liability company, is led by managing member Jason Granger, Charlie Shrem, CTO, and a veteran team of finance and management professionals.
Charlie and Jason will be addressing your queries regarding Mainstreet and Intellisys . You are welcome to submit your questions as soon as you see this thread, they will all be answered during the AMA.
We’d like share more about what we're trying to achieve in paving the way for tokenized assets on the blockchain and develop yet another use case for the Ethereum smart contract functionality. We see that there's an exciting future ahead of issuing digital securities for decentralized investment in markets across the world.
The fund will invest in U.S.-based, middle-market operating companies, fund of funds, real estate and blockchain technology, opportunities that are not available through traditional investment channels.The MIT will be the first asset-backed digital security for a private equity investment fund. Our registered token holders will receive cash distributions originating from the companies we acquire through the fund.
You can read the information of the first company we're purchasing! Sanitary Waste Prospectus
The token sale starts on February 13. Find more info at:
Feel free to ask your questions now!
-Charlie Shrem
Any news on those steem rings?
Shoot me an email [email protected]
@charlieshrem, I have sent you an email as well brother. Hope you are well.
.
Sweet!
Charlie since this is not available for US/Euro zones will it get added on US exchanges and if so will we be allowed to trade it ?
nvm got the answer on the website, great news
what is your strategy about United States sanctions towards different countries? I mean are you allowed to accept investment from people in those regions or you must follow the rules?
All potential investors are checked against the OFAC list, so no, we are required to follow the rules.
Which trading pairs will be available for MIT token on Open ledger? Thanks.
I'm a US citizen but living outside the US. So want to clarify if I can still participate in the fund (i.e. is it just US residents that are not allowed, or all US citizens regardless of place of residence)?
Also, what will be the exact procedure for participating in the token sale? Send ETH to some smart contract? Will KYC be required at that time or sometime later before the actual token distribution?
US citizens are restricted from investing, regardless of where they live.
This is for two reasons: (1) If we took one single US accredited investor, we'd be restricted 99 total investors, which defeats the purpose of accessing the global community. (2) The US currently prohibits trading/transferring of private equity interests during a certain period of time, which would restrict everyone's tradability. Hopefully this changes very soon for crypto!
We're using blocktrades.us, which is like ShapeShift. There are 29 different tokens that can be used to purchase MIT, which convert to ETH to send to the smart contract. KYC occurs before the purchase because we need to instantly validate prior to purchase according to KYC/AML and Cayman laws.
Thanks a lot for the info. Shame I can't be a part of it, but I commend you guys for taking such a thorough approach to make sure you're compliant in all the various jurisdictions. I don't think I've ever seen a crypto ICO (or ITO if you prefer) that looks so airtight from a legal perspective.
Frantic last couple of days I imagine eh? In addition to my comments here.
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what are you looking for in companies to bring into the fund? what size? specific industries?
We're looking for companies with strong management teams and owners that aren't involved in day-to-day operations. Most of our current pipeline consists of companies that will be rolled up into single organizations - Sanitary waste and manufacturing to name the main focus.
The investor deck includes a highlighted summary of the types of opportunities we're currently pursuing.
http://www.intellisys.ai/investor-deck/
is there a specific application of blockchain in mind for the companies you bring into the fund?
Yes. We're focused those that provide key synergies to our eventual portfolio that we can implement into traditional industry. These would include logistics, customer data management and payments systems, payroll, automation, and several others that we have our eye on.