Let’s disrupt Venture Capital together!

Our Vencap team was working really hard in silence! But we are almost done finalizing our protocol. Get ready for the liquidity event in order to launch the Vencap platform. Let’s disrupt venture capital together!

Vencap will operate as a decentralized autonomous organization (DAO) that exists as a set of contracts that resides on the Ethereum blockchain, it did not have a physical address, nor people in formal management roles. The original theory underlying was that by removing delegated power from directors and placing it directly in the hands of owners the DAO removed the ability of directors and fund managers to misdirect and waste investor funds.

The DAO was intended to operate as “a hub that disperses funds (currently in Ether, the Ethereum value token) to projects”. Investors received voting rights by means of a digital share token, they vote on proposals that are submitted by “contractors” and a group of volunteers called “curators” check the identity of people submitting proposals and make sure the projects are legal before “whitelisting” them. The profits from the investments will then flow back to its stakeholders.

The DAO did not hold the money of investors; instead, the investors owned DAO tokens that gave them rights to vote on potential projects. Anyone could pull out their funds until the time they first voted.

In order to provide an interface with real-world legal structures, the founders of VENCAP will establish a Swiss-based company, because Swiss law allows it to “take money from an unknown source as long as you know where it’s going.