Quarter, a platform that fractionalizes homes and provides a mortgage alternative, has listed the Quarter Launch Fund on tZERO, a broker-dealer that provides online capital formation.
According to a note from tZERo, the Quarter Launch Fund aims to raise up to $147.25 million in a Reg D offering. The offering is only available to Accredited Investors.
Quarter seeks to boost home ownership by providing a different path to finance a home. As inflation has impacted the cost of housing and rates remain high, there are a legion of individuals and families that cannot afford to purchase a home. The Quarter Launch Fund expects to use money raised to make investments in secured loans for the properties on the Quarter platform. Investors in the Fund will share in any net cash flow and appreciation returns provided by the Quarter Launch Fund’s investments.
tZERO Group’s CEO, David Goone describes the offering as “another step forward in the democratization of access to asset classes typically reserved to institutions and high net worth investors.”
The Quarter Launch Fund is a closed-end fund and is expected to run for a term of five years. tZERo will enable tokens to be issued which represent the Fund. Unlike investing directly on the Quarter platform, where home appreciation will be distributed directly to token holders on an annual basis, the appreciation accrued by the Quarter Launch Fund will be converted into monies to be distributed to the Investors based on an anticipated secondary market for tokens which is yet to launch.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!
