Announced earlier this month, SPDH Technologies doing business as VentureNear.com, became the first intrastate crowdfunding platform approved in the state of Minnesota. The announcement was accompanied with the following disclaimer by the Minnesota Department of Commerce:
By declaring a portal operator’s registration effective, the Department does not represent that it endorses or approves of every aspect of the portal operator’s business. The securities offered on the portal have not been recommended by any federal or state securities commission or division or other regulatory authority. Thus, in making an investment decision, purchasers must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved.
Minnesota benefited from a group of committed elected officials as well as an advocacy group known as MNvest.
MNVest has also organized a Learn How To event on December 6th to help push things along.
As for VentureNear, there are no live offers yet but the website assures us that Minnesota businesses seeking investors will be coming soon. VentureNear explains;
“[we] started with a simple vision: to offer equity investment opportunities in community-minded, income-producing projects to a broader range of people …. we combine community development and smart investing to give you a simple, straightforward way to make a return while enriching the areas where you live, work, and play.”