Kapinvest 21, a VC company in Tyumen, in Russia’s Southeast Urals, has partnered with a group of unnamed Chinese investors, Asia LP, to launch FinShi Capital, a venture fund based on cryptocurrencies. The fund will target blockchain and fintech projects in Russia and beyond.
The fund began selling pre-ICO (Initial Coin Offering) tokens today, June 15, with token owners becoming investors in the fund “in accordance with the Ethereum contract.”
FinShi Capital’s tokens will be collateralized with the fund’s shareholdings in startups, with token investors receiving 80% of the fund’s profits, FinShi Capital pledges.
From tokens to “huge companies”
The fund’s young team will help startup teams manage and develop their projects, which are expected to “grow into huge and expensive companies.” The fund will pay dividends to token owners each time the fund will exit a portfolio company. Token holders will also be able to sell their tokens on stock exchanges.
FinShi Capital intends to select at least 15 fintech and blockchain projects on Seed and early-stage rounds over the next two years.
“We are currently reviewing more than 30 rapidly growing fintech projects, any of which might be invested in after ICO,” the fund indicate on its website.
“As a classic venture fund we can provide you with 120% per annum income (judging by the growth of portfolio companies in the previous years), and taking into account rapid development of fintech and blockchain markets we are planning on getting 520% per annum income for all of our investors,” claims FinShi..
Sources: FinShi, Firrma.ru
