Hi folks. We are in presence of Corey from VCX Venture Card today. Let's get right into the conversation.
Chris: What do you get by holding the VCX Venture Card?
Corey: Venture Capital X is premised on alleviating the inequality between the connected and the non connected investor. Traditionally, only VCs, Angels and Connected individuals get access to pre-IPO, ICO and IDO opportunities and they are willing to write check sizes of $50k+ for each investment. By holding the VCX access card, all holders will get an opportunity to invest in VC deal flow 6-12 months before they go public at a relatively small check size. In addition, holders will get access to our luxury partnerships and concierge services from 5 star hotels to luxury cars to jewelry from top brands.
Chris: What problem is this solving?
Corey: There are a few problems we are looking to solve and reasons why this is an NFT and not a public tech platform. Firstly, as explained in the first question, we want to give people who don’t have a chance at these opportunities the ability to invest in pre public investments, as these can result in massive returns for investors. Secondly, in a traditional raise, institutional investors buy up a lot of cheap stock and once it goes public they dump it to retail investors and the stock price goes down and hurts the average person. By creating a network of hundreds to a couple thousand people, we are able to alleviate the stress on the public stock market and make it much more challenging for the price to dump on retail investors.
Chris: Why is this NFT based and not a platform like AngelList or EquityZen.
Corey: First off, AngelList is for people who are willing to write large check sizes and these companies are not necessarily vetted by anyone, you have to do that yourself. By the way I am not saying to not do your own research on the deals we provide, but we make it easier by doing the initial due diligence. Secondly, EquityZen is a secondary market for private stock. You can buy more expensive stock off people who purchased it earlier at a cheaper price and these companies may take years to go public.
So why are we an NFT platform? Much like every NFT, we want to build a strong network of people who are like minded, can connect on an individual basis and work towards similar goals. Although that is not the main reason, we want to build a strong community. The main reason we are not a traditional tech platform is because having a smaller customer base means we can bring in less deals to serve our customers. Less deals is good, because that means our partnered firms can bring in higher quality deals than higher quantities. We don't want flippers, we want people that will hold our card for a long time because we are providing them with good opportunities that make them money. We only bring in the best deals we can find that have been financially audited and already have a market. If we were a traditional tech platform, we would have to serve potentially 10s of thousands of people and would jeopardize our value by providing as many deals as possible.
Chris: How are we different to other Decentralized VCs?
Corey: We are not a DAO. We do not invest on your behalf or what the majority thinks. You get to invest on an individual basis and can choose if you want to opt in or out of each deal. Nobody gets to control what you do, not even the majority. We have partnered with brokerages, regulated by securities laws to ensure a safe and smooth transaction for each person to invest the eligible amount into each deal. All existing decentralized VCs invest on your behalf with a revenue share model. We are the first platform offering you the same ability as Angels or connected individuals.
Chris: What's the background of the founders?
Corey: Our 3 founders all have 30+ years in the financial industry. We have 3 co-founders who have served as founding partners of private equity firms who have raised $1 Billion+, CEOs of public companies, CFOs of public companies, worked on the Toronto Stock Exchange, have sold multiple companies for over $80 million each, etc. Our founders have a lot of experience building companies, selling them, auditing them, and sourcing them. We have a strong team ready to deploy high quality deals for our holders.
Chris: Who are your partners and LPs?
Corey: We have had the privilege to onboard a few partners from around North America to help with due diligence, legality of securities and bring in more deal flow. Our partners have raised over $4 Billion collectively and are ready to keep that number rolling by providing deals to the VCX community. Our partners include leading VC firms, Brokerages, Private Equity, Crypto exchanges, and Crypto Security. You can check out our partners on our website and we will be announcing more partners soon to help with our ICO and IDO deal flow!
Chris: What other benefits do you offer?
Corey: A lot of people ask what we can help them with aside from pre public deals. We want to bring a network of both newer investors and luxurious investors to provide a meaningful opportunity for people to connect and grow. That's why we will be hosting networking events in person and online, pitch competitions, and conferences with industry leaders.
Our other added benefits include skip the line concierge services for jewlery and watches such as Rolex and Patek Philippe, Cars such as Porsche and McLaren and Hotels around the world we have partnered with.
Chris: When is mint?
Corey: We will be minting September 13th, at a supply of 1,888 for 1 ETH. This investing community is exclusive and we are looking to bring on the best and brightest from web2 and web3 to help push innovation across multiple sectors including web3. As such we know that the benefits of community outweigh the upfront cost and hope that people hold on to these as long term investments for many years to come as they build up their portfolios and diversify their assets.