16/05/2018 17:32:09

CityBlock Capital announces NYCQ, a tokenized venture fund for investment into NYC startups

NEW YORK, May 16, 2018 (GLOBE NEWSWIRE) -- CityBlock Capital is announcing NYCQ, a $20 million tokenized venture fund for investment into top New York City startups. The company will source capital globally and allocate it to proven local investors with track records of profitable exits. NYCQ is the first of three CityQ security tokens that the company plans to offer this year.

“We’re addressing two major trends in venture capital as securities become digitized on the blockchain,” said Rob Nance, Managing Partner of CityBlock. “Startups are seeking access to capital markets earlier in their life-cycles through token offerings, and there’s increased demand for liquidity among institutional investors. We believe the greatest opportunity for large returns in venture will be at the pre-seed and seed stage. Allocations in these deals are often given to local investors that have access to prime deal flow through relationships.” The company plans to announce their NYCQ investment partners on June 15.

In addition to the capital raised by CityQ tokens, CityBlock provides its investment partners with legal, back-office and fund administration. “As a professional in this ecosystem since 2005, I noticed that fundraising, administration and legal require too much time and money for micro-VCs. This inevitably means less resources for vetting and supporting founders at the critical early stages,” said Jon Avidor, Managing Partner of CityBlock and co-founder of Startup.law, a leading startup law practice in New York City. “CityBlock’s service platform creates more opportunity for our investment partners to scale their impact across portfolio companies and drive greater returns.”

With the launch of more CityQ tokens, CityBlock will encourage cooperation among its network of investment partners through shared incentives. “When the CityBlock team first approached me about this project, I immediately understood the opportunity,” said Kwame Anku, Founding Principal of Black Angel Tech Fund and adviser to CityBlock Capital. “Throughout my career I’ve experienced the impact of a strong investor network, whether it’s for sourcing capital or providing introductions, and I’m excited to work with CityBlock on building the future of community-driven venture capital.”

CityBlock’s commitment to venture capital innovation includes developing a global investor network focused on closing the gender and racial funding gaps that are hindering the VC industry today. “I’m pleased to be advising CityBlock Capital on the economic opportunities generated by empowering underestimated groups,” said Arlan Hamilton, Founder and Managing Partner of Backstage Capital. “Many are advocating for blockchain technology as a solution for correcting institutional biases in our governing and financial systems. I'm working with CityBlock to ensure venture capital is equally impacted.”

CityBlock Capital has partnered with Securitize on their token sales and will list CityQ tokens on AirSwap. “CityBlock Capital is a strategic partner for attracting liquidity as we begin to work with registered broker-dealers to introduce security tokens into the AirSwap marketplace,” said Rob Paone of AirSwap. “CityBlock’s success equates to our success in developing markets around this highly desirable asset-class.”

Additional CityBlock Capital advisers include Anthony Pompliano (Morgan Creek Blockchain Capital), Carlos Domingo (Securitize / SPiCE VC) and Kevin White (Genesis Block Capital).

To learn more about CityBlock Capital visit: www.cityblockcapital.com

To learn more about security tokens visit: The Official Guide to Tokenized Securities by Anthony Pompliano

ABOUT THE TEAM

Rob Nance - Managing Partner

Rob is managing partner of Edgewater Equity, an early stage venture capital fund based in New York City. Edgewater deploys capital thematically across early-stage companies investing in the enabling technology of networks and the application of material science to consumer products that haven’t seen innovation in multiple decades. He manages a portfolio of early-stage companies around the globe. Rob also advises a diverse group of operating businesses that range from restaurants to medical cannabis dispensaries. Rob holds a Bachelor of Science in Finance from Winthrop University and Master of Science of Law in International Taxation from Thomas Jefferson School of Law.

Jon Avidor - Managing Partner

Jon is co-founder of World Trade Ventures, an early-stage venture capital firm in New York. He has worked with innovators and investors from Silicon Valley to New York and Tel Aviv since 2005. Jon also founded Startup.Law, and previously practiced law at Sullivan & Cromwell (NYC) and Goodwin Procter (Silicon Valley). He is best-known for representation of clients selling companies to LinkedIn, PayPal and Intel, and has been counsel to Goldman Sachs and Khosla Ventures. Jon holds a JD-MBA from Northwestern/Kellogg and is licensed to practice law in New York and California.

Media contact:

Max Goldstein

co-founder / COO

max@cityblockcapital.com

 

Primary Logo

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
19 Sep
 
Jeg har været med som skribent her på EI siden 2012 og jeg har haft mange gode øjeblikke ved at være..
62
20 Sep
VWS
Vestas aktien fylder en del i min portefølje, hvorfor jeg følger den tæt. Jeg var dog selv tidligere..
35
22 Sep
DANSKE
Er det ikke tænkevækkende i disse dage at være vidne til vores politikere, der berettiget forarges o..
31
20 Sep
 
Danmark forærer 12mia kr væk til svindlere - med hjælp fra et par fordrukne ansatte i skat. Så stort..
23
23 Sep
DANSKE
Danske har intet lært. Ikke af finanskrisen, ikke af skattely sager, ikke af panama sager. De har ty..
22
24 Sep
TEVA
Dansk Aktionaerforening gjorde et lille scoop og fik Kaare Schultz til at deltage i InvestorDagen i ..
19
24 Sep
VWS
MHI Vestas turbine platform can scale up to GE's 12 MW rival: CEO https://www.reuters.com/article/us..
18
20 Sep
DANSKE
Erhversministeren mener at hvidvaskskandalen er "en af de største skandaler i danmarkshistorien" og ..
16
21 Sep
DANSKE
Desværre har pressen og visse politikere dømt i en sag for at mele deres kager.  Hvis man har fulgt ..
14
20 Sep
DANSKE
MEN DER ER INGEN SAG!  Det er IKKE Danske Banks opgave at forhindre pengeudførsel fra Rusland !  Der..
14

HSBC Bank Plc : Form 8.5 (EPT/RI) - Lonmin PLC

22/02/2018 10:54:53
FORM 8.5 EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Name of exempt principal trader: HSBC BANK PLC (b) Name of offeror/offeree i..

Rathbone Brothers Plc : Preliminary announcement of 2017 results

22/02/2018 07:00:19
Funds under management up 14.3% to £39.1 billionThis is a preliminary statement of annual results published in accordance with FCA Listing Rule 9.7A. It covers the year ended 31 December 2017. Mark Nicholls, Chairman of Rathbone Brothers Plc, said: "UK and global investment markets performed well in 2017, with some indices reaching record levels towards the end of the year. This outcome has b..

Elliott Capital Advisors, L.P : Form 8.3 - GKN Plc

Related news
21/02/2018 15:25:10
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Elliott Capital Advisors, L.P. (for itself and related general partners ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
Diagnostic Superiority and Equivalence to Biopsy: a Study Confirms the Clinical Value of ShearWave® Elastography (SWE™) for the Non-Invasive Evaluation of Liver Fibrosis
2
Payment Security Compliance drops for the first time in six years, states Verizon’s 2018 Payment Security Report
3
PCG Advisory Group Co-Sponsored Family Office Event Presented by Morgan Creek Capital and BlockWorks Group
4
Motif Bio Reports Half-Year 2018 Financial Results and Operational Progress
5
Recall Studios Will Host Shareholder Call, Tuesday, September 25th at 11am EST

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Berlingske Media 2018  Cookie- and Privacy policy  |  Cookies  |   General terms of trade  |   Terms of use and IP rights
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
25 September 2018 16:50:52
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20180919.1 - EUROWEB7 - 2018-09-25 17:50:52 - 2018-09-25 16:50:52 - 1000 - Website: OKAY