Community-owned fundraising platform Neufund, a coding project on the Ethereum blockchain, has announced a successful pre-sale funding round of $11.6 million. Backed by private investors from funds such as Philipp Freise (Kohlberg Kravis Roberts & Co), Michael Jackson (Mangrove Capital), VC funds such as Atlantic Labs, and crypto influencers like Max Kordek (Lisk), Fabian Vogelsteller (Ethereum Mist, ERC20), the company will use the money raised to launch its Initial Capital Building Mechanism (ICBM).
The protocol will allow investors to fund projects while acquiring equity in return in the form of tradable crypto-tokens. The blockchain-based fundraising platform allows start-ups, SMBs, and established companies to legally issue a new concept of asset ownership. Neufund operates as a public, open-sourced platform that allows any entrepreneurship venture to hold an ‘Equity Token Offering’ for their own company’s Equity Token. Neufund’s ICBM will occur on the 17th of November, 2017, at 11am UTC, lasting for 30 days.