Andra Capital Announces Silicon Valley Coin, Plans STO Using Tezos, Issued on TokenSoft

VC firm Andra Capital announced the forthcoming security token offering (STO) for the “Silicon Valley Coin” (SVC) issued on the Tezos blockchain. SVC will utilize TokenSoft to issue the digital security.

According to a release, Andra Capital will be giving investors a choice to invest in an open-ended fund or purchase SVC. The offering will be made available in 50 different jurisdictions including accredited investors in the US.

The fund is expected to invest in later-stage tech firms.

SVC is described as a tradable security token that replaces traditional paper contracts with digital smart contracts. The fund has established certain investment criteria for its investments as follows:

  • backed by top tier VCs;
  • valued at $500 million or higher;
  • leaders in their industry;
  • visionary management team focused on growth.

To quote the SVC website:

“The Fund targets companies in their hyper-growth phase and will aim to provide permitted investors with higher returns and lower risks over a shorter investment period than traditional venture capital funds. Our strategy and stakeholder ecosystem aims to provide 30%+ IRR target returns from investing in late-stage technology companies.”

Targeted investments are expected to have a valuation of $1 billion or more and hold the possibility of a near term exit such as an IPO.

Sam Raman, Head of Strategic Partnerships at Andra, stated, commented on using both Tezos as their blockchain of choice and TokenSoft for the STO. Raman noted that TokenSoft provides the tech to allow “qualified retail investors to participate in desirable, late-stage, pre-IPO technology venture companies.” He also mentioned Tezos’ ability to manage digital securities.

Mason Borda, CEO of TokenSoft, said they have seen significant demand from issuers interested in using Tezos due to its “institutional-grade qualities:

“With Silicon Valley Coin’s availability in 50+ countries, Andra is showcasing the benefits of a globally accessible blockchain. TokenSoft takes pride in delivering an automated investor onboarding experience tailored to each jurisdiction and supporting transfer restrictions for ongoing administration,” said Borda.

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