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Alternative Market Briefing

Swarm fund ICO raises $5.5m, aims to offer compliant investments into alternative assets and institutional asset classes
Friday, November 17, 2017

Komfie Manalo, Opalesque Asia:

Blockchain-focused firm Swarm Fund has raised a total of $5.5 million through its public token sale. The company also appointed co-founder Philipp Pieper as its chief executive officer, and successfully held the first liquid democracy vote on its blockchain based platform.

Swarm Fund is a decentralized capital marketplace providing cryptocurrency investors access to high-return, institutional-style investment funds backed by real-world assets. Pilot investment vehicles on the Swarm Fund platform include a distressed real estate fund, a solar energy fund, and a crypto hedge fund.

"Now that we have completed our highly successful token sale and liquid democracy vote, we're off to the races with our platform development, and partnering with the seed funds that will be the first investment vehicles to launch within the Swarm," Pieper said. "I'm excited and honored to be leading the Swarm into this next, dynamic stage of growth and expansion. We are in the process of finalizing commitments from a variety of funds who are excited about participating on the platform, and anticipate a January launch of our asset tokenization platform and marketplace for asset-backed tokens."

The public sale sold some 8.2 million tokens to members of the Swarm, the company added.......................

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