NextGen Crowdfunding reported on Monday that investor commitments for Title III equity crowdfunding campaigns have officially surpassed $10 million. NextGen is tracking Title III companies through its “NextGen Dashboard.” The dashboard notably displays investor commitments progress since the new crowdfunding regulations went into effect less than six months ago.
Title III, also known as Reg CF, allows companies to raise up to $1 million from non-accredited and accredited investors alike. The new security exemption became actionable this past May and has since experienced diverse utilization from a wide range of companies seeking growth capital. One month after the rules went into effect, NextGen Crowdfunding announced investor commitments quickly surpassed more than $1 million for the 30 or so companies issuing securities. The commitments went up to $5 million at the three-month mark.
Offering his insight on the success of Title III campaigns, Aubrey Chernick, founder of NextGen Crowdfunding, stated:
“As we head into the six month mark since the new Title III rules took effect, the marketplace reflects steady and continued growth. This is a positive sign that Regulation Crowdfunding continues to be a viable and promising option for both entrepreneurs and investors.”
NextGen Crowdfunding also listed the companies that have closed their Title III campaigns with the highest levels of investor commitments:
- Beta Bionics, Inc.: $1,000,000
- Brewer’s Table East Austin, LLC: $396,500
- Cleveland Whiskey LLC: $731,164
- Hops & Grain Production, LLC: $1,000,000
- Legion M Entertainment, Inc.: $1,000,000
NextGen Crowdfunding went on to reveal a graph detailing the investor commitments. It was reported that towards the end of October 16th the total amounts of investments passed the $10 million mark. The investor commitments that are displayed in the graph are of companies that have closed their campaigns as well as for companies that currently have active campaigns.
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