NextGen Crowdfunding announced on Wednesday that the total amount in investor commitments in Title III equity crowdfunding campaigns has surpassed $50 million. The company revealed that its Crowdfunding Industry Dashboard includes data on the progress of all 342 of the Regulation Crowdfunding (Reg CF) offerings to date. According to the data, the average amount raised by Title III campaigns that have ended and met their funding goals has been about $300,000.
While sharing details about the data, Aubrey Chernick, CEO of NextGen Crowdfunding, stated:
“This is a noteworthy milestone for the investment crowdfunding industry that is still in its infancy. The data we’re looking at seems to suggest that both entrepreneurs and investors are becoming increasingly comfortable with equity crowdfunding as a fundraising strategy.”
The Title III regulations, which were enacted by the SEC in May 2016, allow anyone to invest in startups online through crowdfunding. Under these new rules, companies are able to raise up to $1 million from both new and accredited investors.
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