Digital Venture Capital Fund, SPiCE VC, Trades on Fusang, a Regulated Asian Digital Asset Exchange

SPiCE VC has listed its digital security on Fusang Exchange, a regulated securities exchange that operates in Singapore and Hong Kong. Fusang has been licensed by Malaysian regulators.

Fusang Exchange supports both cryptocurrencies as well as digital securities and claims to be the first fully operational digital asset exchange enabling issuers the option to complete an initial public offering with both retail and sophisticated investors. Fusang received regulatory approval to operate in February 2019.

SpiceVC seeks to “revolutionize” venture capital as an asset class and is the first fully tokenized VC fund.

Tal Elyashiv, founder and Managing Partner of SpiceVC, stated:

“This is an exciting moment for SPiCE, as well as the entire digital security ecosystem, as it marks yet another growth milestone. After a coordinated effort by SPiCE and Securitize to thoroughly test the technology integration and operational processes we moved to make SPiCE the very first digital security to list on Fusang. The barrier-breaking partnership will advance our mission to provide market participants more diverse investment opportunities and access to liquidity, and to further the digital revolution in capital markets.”

According to a release, “most” international investors are expected to have access to shares in SPiCE VC trading on Fusang.

Henry Chong, Fusang’s CEO, said they were thrilled with both SPiCE VC and Securitize – a token issuance platform that announced a partnership with Fusang earlier this year.

“We’re particularly excited that our first listed digital asset is a lucrative offering for investors. The world is quickly edging into a revolution that will move the financial markets to the digital age, and we remain steadfast in our mission to provide the institutional infrastructure for the digital asset economy in Asia.”

Fusang is currently raising capital in a pre-IPO round seeking USD $6 million. An anticipated IPO is expected in 2021.


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