Our EQUI journey started nearly a year ago. You will have noticed that the EQUI model has changed since the original launch.
The plan was to do an ICO and to use the EquiToken as a means to raise capital on a project by project basis. Under the original EQUI model, the token was the primary driver of the Fund. In fact it should have been the other way round, with the Fund being the primary driver and the token being merely a representation of value in the Fund. The primary function of the token being to allow liquidity in the Fund.
We postponed the launch and decided to develop the EQUI concept, namely a venture capital fund with a tokenised back end. In so doing, we entered the world of regulated activity, with our token being reclassified as a security token. This meant that our token could only be traded on security exchanges, which are only now coming into existence.
In this period of evolution, we were thrilled that Steve Wozniak became an EQUI co-founder and his advice was pivotal in forming this revised EQUI model.
In this brave new blockchain and crypto world that we live in, new ground is being broken all the time as regulators and legislators try to evolve guidelines and laws in this space. It is a complicated area, as old world rules are often used to interpret an area never contemplated or intended at the time of creation of the old world rule book.
We did make mistakes with the original EQUI, despite taking best advice at the time of the original launch. The opportunity to pause and rethink the concept has allowed all the founders to come up with a bold and innovative new EQUI which will be ground breaking in this space.
As the concept evolved we realised that ICOs were not the way forward for EQUI in terms of fundraising. Our investor base will now be derived from sophisticated investors, whilst still allowing a wider participation than is normally seen in more conventional venture funds. All major investors who supported the original concept have stuck with us.
As entrepreneurs first and foremost, we have worked day and night to make revised EQUI happen. We are proud of the name and we will go forward with EQUI as the brand. We are still learning on our EQUI journey. However, we will always be transparent and fully compliant with best practice and laws surrounding crypto world.
We look forward to welcoming you on board, as we believe EQUI will be the next investment frontier in blockchain world.