VC firm Green Visor Capital has announced an investment in Wefunder, a crowdfunding portal with the vision to provide millions of ordinary investors with access to America’s most promising high-tech start-up investments. In 2012, Wefunder crowdfunded $500,000 using its own platform. In 2013 the company raised equity via crowdfunding for 13 businesses generating over $2 million from accredited investors. Wefunder intends on incorporating retail crowdfunding once Title III of the JOBS Act is finalized by the SEC.
Mike Norman, Co Founder of Wefunder, noted:
“In anticipation of the transformative JOBS Act being enacted, we worked overtime to build a beautiful product during our time at Y Combinator. Our belief is that when all Americans can invest in innovation, the world will be a better place. Very soon the day will be upon us when everyone — not just the wealthy — will be able to invest as little as $100 in the startups they care about. We appreciate the support from the Green Visor Capital team. They are equally passionate about our mission and are committed to helping us fulfill our vision.”
Simon Yoo, Founder and Managing Partner of Green Visor Capital, said:
“For reasons both professional and personal, we care deeply about the democratization of access to capital. Thanks to recent regulatory changes and the advent of new technology, the capital markets of the future are going to be materially different from what we see today. No longer will a small group of gatekeepers decide what companies or ideas get funded, but rather the investors themselves, whose numbers will multiply under the JOBS Act, will directly make the determination. The platform that the Wefunder team has built has tremendous potential to further facilitate the paradigm shift already under way.”