Finles Capital announced today that it is anticipating an oversubscription for an August 30th ICO for FundCoin. The expected €100 million proceeds will be used to invest in the Finles Lowestoft Equities Fund.
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The company says that the great majority of the €100 million that Finles Capital expects to be raised in the ICO will subsequently be contributed to the fund and allocated to traditional and private investments, with up to 30% invested across the Blockchain industry. The fund aims to have an Internal Rate of Return (IRR) of 25%, driven mainly by the high growth of the blockchain industry.
Rob van Kuijk
“Investors rightly see the blockchain industry as an opportunity they should seize; with the crypto market capitalization already at $100bn. The blockchain market itself is predicted to grow at 58% CAGR over the next six years. However, price Volatility , with some cryptocurrency prices fluctuating by 25% in a day, along with the recent spate of ICOs have created uncertainty and some criticism. Industry commentators have argued that many ICOs are designed to make money from the buyers rather than for them,” said to Rob van Kuijk, CIO of Finles Capital Management.
“FundCoin is different. Not only does it use blockchain technology to open up access to retail and cryptocurrency buyers, it solely invests in a Fund that is run by professional managers and so linked to the structure that provides a more safe harbour in the highly volatile blockchain market,” added Van Kuijk.
The tokens will not be available in the US, Singapore or the European Economic Area.
