Indiegogo’s push into investment crowdfunding is working out pretty well so far. In the first two months of operation, Indiegogo has helped five different companies raise growth capital under Reg CF. In a partnership with MicroVentures, Indiegogo’s First Democracy VC has raised $1.4 million with over 2,600 individual investors have backed offerings with an average investment of $530.
The first five equity campaigns on First Democracy VC by Indiegogo and MicroVentures that have reached their funding goal include:
- ArtCraft Entertainment: Funding the creation of Crowfall, the highly anticipated massively multi-player video game – $669,497 raised
- Play Impossible: Using powerful, miniature sensors to transform athletic balls into game controllers connected to a smartphone; recently named one of OMD.com’s “Best in Show at CES” – $147,850 raised
- BeatStars: A social music marketplace and distribution company where over 350,000 producers and artists collaborate, sell and share music – $183,996 raised
- Republic Restoratives: A women-owned craft distillery and cocktail bar in Washington DC is seeking capital to expand its product lines and distribution market – $300,000 raised
- Texas Zebo: A two restaurant concept — one part coffee shop and bar, one part ‘farm to pizza’ restaurant — with locations opening in Dallas and Austin – $109,723 raised to date
Under Reg CF, created by the JOBS Act of 2012, companies may raise up to $1 million online via FINRA approved funding portals. Some, if not all, of the issuers on First Democracy VC, are also raising capital under Reg D, an exemption that does not include a cap on the investment level. Under Reg CF any individual may invest. Purchasing securities under Reg D requires an investor who is deemed “accredited” – IE a net worth of $1 million or an annual income in excess of $200,000 a year.
Indiegogo has followed the first five campaigns with two new equity crowdfunding offerings launched today:
- The Field Guide to Evil: The highly anticipated follow-up film from the creators of the cult classic ABCs of Death series unveils a series of myths, lore and folktales that have captivated, galvanized and frightened communities throughout history.
- Grilled Cheese Truck: Serving innovative, gourmet, and seasonal grilled cheese melts that have appeared on numerous “best of” lists.
Indiegogo expects to ramp volume of equity crowdfunding offers dramatically during 2017.
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