tZERO, a blockchain-focused subsidiary of Overstock.com (NASDAQ:OSTK), announced on Thursday it has teamed up with has signed an agreement with EnergyFunders, an energy projects funding platform, to digitize approximately $25 million of equity interest in EnergyFunders’ Yield Fund I, which is considered the company’s largest fund to-date that will invest in oil and gas assets throughout the U.S.
tZERO reported the digital security will use its smart contract technology and will be built on the Ethereum Blockchain. tZERO CEO, Saum Noursalehi, revealed more details about the collaboration by stating:
“We are thrilled to partner with EnergyFunders to digitize and trade $25 million of equity interest in its Yield Fund I. Opening access to traditionally illiquid investments like this aligns with our mission, and we look forward to collaborating with EnergyFunders on the digitization and trading of future funds.”
EnergyFunders CEO, Laura Pommer Fidler, further commented:
“We couldn’t be more pleased about this potential opportunity to provide a secondary market for trading our new EnergyFunders Yield Fund I in the same way that you might trade stocks, bonds or ETFs in a regular brokerage account. This will give our investors access to the potential for liquidity in a regulatory-compliant manner.”
Founded in 2013, EnergyFunders claims it is the world’s largest online investment marketplace disrupting the energy industry by evolving the way capital investment and energy projects come together to generate more profitable commerce. tZERO added that EnergyFunders will be launching its Regulation D 506(c) offering this month and the Yield Fund I digital security is expected to become tradeable on the tZERO ATS, subject to legal and regulatory due diligence and securities laws considerations, offering investors secondary liquidity.