Circle Aiming to Raise $100 Million in Venture Fund

Crypto startup Circle is aiming to raise a $100 million venture capital fund for its freshly acquired equity crowdfunding platform SeedInvest.

The development has been revealed by a job posting on Linkedin by the company in which it advertised for an open position for a general partner.

According to the job advertisement, the fund will take advantage of the deal flow coming through SeedInvest.

“The Partner will be expected to develop and drive an investment thesis designed to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term SeedInvest’s sizable deal flow and its unique network of 250,000 investors to maximize returns,” the Linkedin job post stated.

An acquisition to acquire licenses

Circle acquired Seedinvest in March with which it became a fully Securities and Exchange Commission (SEC)-regulated broker-dealer. The deal allowed the crypto company to offer Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-based securities, under the oversight of the SEC and the Financial Industry Regulatory Authority (FINRA).

Founded in 2012, SeedInvest facilitates the equity-crowdfunding service through its platform, which allows retail investors to browse through different businesses and buy stakes depending on their eligibility. The New York-based firm continued to operate separately under Circle’s umbrella.

The job post also detailed that the to-be-appointed general partner should have principal or partner-level with established venture capital, along with a strong connection within the founder community.

In addition, the person will also be responsible for running the day-to-day operations of the fund, including leading fundraising efforts, sourcing investment opportunities, and building out and managing the broader investment team.

Circle is one of the few unicorns in the crypto industry. The company is heavily backed by giants including Goldman Sachs, Pantera Capital, IDG Capital, and Breyer Capital.

Along with its existing $246 million funding, the company is reportedly eyeing to raise another $250 million in a combination of equity and debt.