Venovate, the crowdfunding marketplace for alternative investments, has announced public launch of Venovate Marketplace during a presentation at Finovate Spring conference. Venovate demonstrated the platform by listing its own convertible debt note and soliciting investors to participate in the deal. Studio 9+ is an incubator founded by entrepreneur Peter Relan and his team of mentors, including Jerry Held, Michelle Sangster, Eros Resmini, Jim Mills, and Les Wright.
“Venovate Marketplace is ready for a public release, and there is no better place for us to go live than at Finovate,” said Michael Raneri, Venovate CEO. “Listing our own first round of fundraising is the perfect way to illustrate how easy it is to raise capital on Venovate Marketplace.”
Studio 9+, who has invested in Venovate’s initial round of funding, intends on using the Venovate Marketplace for their own fundraising activities in the future.
“Studio 9+ is excited to support Venovate’s approach to alternative investing,” said Peter Relan, Studio 9+ Chief Mentor. “This strong team is taking a novel approach to crowdfunding through its focus on accredited investors with self-directed IRAs.”
“In addition to capital, we provide the guidance and resources needed to bring a product to market,” added Studio 9+ Mentor Jerry Held. “Companies come out of our incubator program further along than the typical seed round company.”
The crowdfunding platform for accredited investors provides access to private equity and venture capital investments in early to mid-stage growth companies, real estate, natural resources programs, and other structured opportunities. These investments can be made either in alternative investment funds or in primary offerings of private placement securities.
Unlike sites like AngelList, CircleUp, and other seed-stage platforms, which are designed to connect angel investors with startups seeking initial seed capital, Venovate Marketplace is listing capital offerings of more mature companies seeking later rounds of funding, as well as other alternative private investment opportunities.
“We are very excited about both the release of Venovate Marketplace and our partnership with Studio 9+,” Raneri added. “We already have over twenty investment opportunities in our due diligence pipeline, and we will begin exposing these opportunities to over 330,000 clients of our trust company partners in the coming weeks.”
Presenting at the conference were Venovate’s co-founders, CEO Michael Raneri, formerly of Zecco and Charles Schwab, and Venovate Marketplace President Thomas Foley, founder of CapRally and formerly CEO of Xpert Securities. Venovate purchased Xpert Securities in 2013 from Tim Draper, who also plans to list some of his deals on Venovate Marketplace.
Venovate operates under Title II of the Jumpstart Our Business Startups (JOBS) Act of 2012. This provision lifted an 80-year ban on soliciting, or advertising, private placement securities to accredited investors. These include individuals with an investable net worth in excess of $1 million or annual income greater than $200,000 ($300,000 for couples).