Republic, a securities crowdfunding platform and venture ecosystem, is reportedly planning to raise $700 million for a crypt fund or series of funds.
The news was first shared by Axios in a subscription newsletter but has since been picked up by other publications.
According to Techcrunch, the money will be split between a $200 million venture fund and a $500 million crypto fund.
The venture fund will dedicate its money to purchasing crypto as well as investing in equity across Fintech including Web3. The crypto fund will be dedicated to more established protocols.
Republic started existence as a FINRA-regulated funding portal issuing securities under Reg CF. Over the years, Republic has evolved into much more as it now services a growing number of verticals, including early-stage firms, real estate, litigation funding, crypto, and games – for both accredited and non-accredited investors.
While its Funding Portal serves younger firms and retail investors its accredited Deal Room caters to wealthier indiviudals.
Last year, Republic raised a $150 million Series B led by Valor Equity Partners. The additional funding was soon followed by the acquisition of European securities crowdfunding platform Seedrs. Republic reported 379% growth from 2020 to 2021. Since 2016, Republic has facilitated over $700 million in funding, helping over 600 companies raise seed to later-stage funding. It makes sense for Republic to continue and broaden its offerings for both retail and institutional money. A crypto fund is just the newest offering. Expect more in the coming months.
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