Tech giant Apple’s co-founder Steve Wozniak was named the co-founder of blockchain-powered venture capital firm EQUI Global. He will work alongside serial investor and EQUI founder Doug Barrowman as well as entrepreneur and EQUI co-founder Baroness Michelle Mone OBE.
In his role, Wozniak will head up technology investments and help in finding tech talent for the new technology focused VC fund. He will also be involved in mentoring and coaching the new recruits with a board of serial entrepreneurs, who will provide world class expertise and guidance.
Barrowman says Wozniak was instrumental in forming a revised EQUI model with his pivotal advice. EQUI changed the plan to do an ICO and to use the EquiToken as a means to raise capital on a project by project basis.
Under the revised model, EQUI decided to develop the EQUI concept as a venture capital fund with a tokenized back end. This enabled the token to be reclassified as a security token, with the token to be only traded on security exchanges in a regulated way.
Wozniak had reportedly made known his plan in August to get involved in a blockchain startup project in what is a “first” for him. He also explained his fascination for the blockchain technology. This was revealed in an interview at the ChainXchange blockchain conference held in Las Vegas on August 13 to 15.
London-based EQUI is a technology focused venture capital Fund combining the conventional principles of investing with a crypto back end that allows value to be realized and traded in the open market through the EquiToken. Most of the investments will be made in high-tech, fintech, blockchain and biotech.
The EQUI Fund is an open-ended and tokenized fund, which is looking to be a disruptor to traditional venture capital investing and will bridge the gap between traditional VC and cryptocurrency.
The tokenized fund allows investors to exit their investment and convert their EquiUnits to EquiTokens at any point to be traded on crypto-exchanges. The pricing of EquiTokens is not based solely on market sentiment but is backed by real world assets, potentially reducing susceptibility to any high volatility within crypto markets.
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