WeInvest Capital Partners, a firm specializing in private equity real estate, real estate asset management and private equity, has selected Tokeny Solutions to tokenize the first real estate fund in Luxembourg. According to a note from Tokeny, WeInvest will use Tokeny’s tokenization services to provide the end-to-end digital services needed for the compliant onboarding and management of investors. WeInvest will also utilise those services to issue and manage its real estate fund.
The real estate fund is said to focus on diversification and will finance projects globally in North America and in Europe, along with a variety of projects ranging from villas, chalets and large real estate complexes. The fund is RAIF-type, regulated, and open to private, qualified, or professional investors. Partners in the offering include EY, European Capital Partners, EFA, and Quintet Private Bank.
Tokeny Solutions facilitate the onboarding and subscription of investors. Tokeny will provide a registry by creating a digital proof of ownership for each investor’s position. This proof of ownership may be used in Tokeny’s Billboard to list an investor’s intention to buy or sell to reduce the illiquidity cost associated with private market instruments. The digital asset will also be available for collateralization on DeFi platforms, according to Tokeny.
Luc Falempin, CEO Tokeny Solutions, said that Tokenized real estate funds demonstrate how blockchain technologies improve the issuance and management of the fund, along with an improvement in liquidity.
“WeInvest can now propose its securities to a wider audience of investors interested in attaining more control over their portfolio.”
WeInvest added that they needed a service that provided out-of-the-box technology and Tokeny Solutions have provided exactly this.
In 2019, the Luxembourg government passed a bill that provided a legal framework for securities issued over blockchains. In July this year, Luxembourg submitted a bill with the aim to modernize the existing legal framework for “dematerialized securities.”
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