Topic: [HAVELOCK](SFI) Seedcoin Fund I - page 11. (Read 27350 times)

Let's focus on this for a moment.


How does this startup provide a more thorough service (in terms of speed, security, and reliability) compared to blockchain.info or Bitcoin-QT wallets? How large is the market for a Mac OSX wallet, as compared to Windows or Linux?


What sets this startup apart from BitPay.com? In other words, why should I consider using Cryptopay instead of the *very* well known (and reliable) BitPay?


This seems interesting, though I can't seem to find much information about them. Given an investment with you would partially be funding them, where I can I find a detailed prospectus for their company? Specifically, I'm looking for a business plan of sorts and at least some financials as to how they've done over the past month (it looks like they started early November).


I dug into this a bit (briefly), and as far as I can tell it's just a simple application / plugin that allows you to accept Bitcoin payments through various exchanges. What's the business model behind this, and how does this differ from setting up a typical "Bitcoin Accepted" Mt. Gox button for payments?


No qualms here; I think every country should have their own designated exchange to help facilitate local acceptance. What's the expected growth in the Mexican Bitcoin market?


I can't seem to find any information on this one. Is this sort of like a cold wallet, except stored on a SIM instead of, say, a USB drive?


This seems to tie into Hive as noted above...and how does this differ from BitPay?


Turning to your prospectus...
I see there are 3 entities associated with this project; SFI (the "Fund"), SHL (the "Issuer"), and SML (the "Management"). Am I to presume all 3 are the same company? I ask because the prospectus notes (under Offering Structure) that SHL is offering 10,000,000 units (20% on December 12th, 80% sometime within the next 365 days), but also that:

There's also a bit of a discrepency between your prospectus and website. On your website, you noted that BTC1,800 will be used for funding startups...but on the prospectus you noted only BTC1,780. I imagine this is just a miscalculated management fee.



All in all, it seems interesting...but I don't know what makes you stand out from the rest. Investing in your fund requires an understanding of all you invest in, since that's how I'm able to calculate my overall risk. If you're working with "Grade A" companies to help them get started, then I expect a detailed summary of each company you deal with since my investment will, in turn, be going to them in the end. Unfortunately in this case I don't see any of that. All I see is "hey, we've been helping this set of companies get started, but they need funding and we want our cut...want to invest?".

crumbs, ar9, sum up how i feel about this quite nicely.

I think i get it, i'll try to put it in my own words:

1.  I hand over my money.
2.  You take a management fee, and invest my money in another company.
3.  ...or not -- that's left up to you.
4.  If the companies you invest in make money, we both get rich.
5.  If they all lose money, i go broke and you still get paid.

6.  If the above terms are still not to your liking, you reserve the right to change them at any time.

7.  I also take a risk on you or your Panamanian exchange walking off with my coin.  It would be crass to suggest such a thing anywhere but in bitcoin securities.  In bitcoin securities, on the other hand, i would be insane not to.
People who were not directly scammed by asset issuers were scammed by the exchanges.  Havelock, the exchange you are associated with, has exactly zero assets trading above IPO price.  None.

*If any of the above is inaccurate, i welcome your corrections.

Hi Crumbs,

We are helping Bitcoin startups with attractive businesses prospects and some already profitable. Our structure is quite similar to standard funds whereby a management company helps a fund to find viable and interesting opportunities in a specific sector or industry, in our case, cryptocurrencies. A fund is mainly a company holding other companies shares so this is why the management team is quite important in the startup selection and investment process and management of the fund. However, I think you should mainly look at the startups since they will be the recipient of most of the bitcoins raised, a small portion of the funds raised will go towards ensuring we can keep providing services to the startups and their founders. The Bitcoin startups are located in various countries around the world and are responding to different needs or solving specific problems in the bitcoin ecosystem. Our company's value is actually a completely different topic which is not part of this IPO, the BTC10,000 we totally wish to raise - over a few offerings - is the amount of bitcoin the fund will invest. The unit holders will hold 100% of the fund. The fund will itself owns shares of the startups so the BTC10,000 should be considered as the available funds to invest in startups and the profit comes from the profit of these startups, and possibly dividends of these startups. Instead of buying units of seven bitcoin companies through seven offerings you have the possibility to buy units of a fund which plans to invest in seven startups (for now) and many more later.

I hope this is clearer, let me know if you have any more questions.

thanks

I tried reading your prospectus, but there were so many TLAs managing other TLAs that i lost track.

What i make out thus far:
1. You wish to raise $10,000,000 with an unsecured loan from us, so that you could, in turn, issue loans to other startups.
2. If things work out well, you reserve the right to change the terms of the prospectus at any point in time.
3. Somewhere along the line we expect to see profit, but exactly how is unclear from your prospectus.
4. Though you admit that your company is not worth 10 mil, you nevertheless are selling shares in as if that is worth 10 mil.  That's what the shares add up to.

Could you clear this up?  I'm not sure if i should be investing my BTC in your firm, or in a promising flash game site which is also trying to raise a few mil. on Havelock (Havelock, whose own IPO already failed to raise half the money it set out to make, but is being traded anyhow.  On Havelock.  Yeah.).
Anyhow, the flash site doesn't work, but its owner is very enthusiastic about its future.  Help me decide?
Thanks.

Hi,

Actually this is not a new feature at Havelock, I have been talking to Havelockinvestments since August and the fact that funds must be withdrawn gradually and justified was already mentioned and accepted by us. We have no issue with this and we feel it helps assuring funds are used appropriately.

I've just watched an interview with you. The project is interesting.

However, are you aware about the recent change in Havelock policy that doesn't allow you to withdraw all the funds at once and invest, but only gradually and you'll have to justify to them how all the money is spent. Don't you see this as a potential issue, having to justify yourself to the exchange? It's not a practice I've seen elsewhere.  

$10,000,000 is not the valuation of a company, nor of Seedcoin, this is a fund whereby 89% of the funds raised will be invested in several bitcoin startups. Out of the first raise of BTC2,000 we will invest in seven startups, payment processors, bitcoin wallets, bitcoin exchanges.. in various locations around the world. So there is not a single valuation but the valuations of the investment targets to consider. Some of these startups are at revenue and even at profit stage. For BTC10,000 to be raised over a few raises Seedcoin will help developing a large number of startups and therefore the whole bitcoin ecosystem, this is our main motivation and interest.

Interesting.

2nd UPDATE

We are pleased to announce the upcoming IPO for Seedco Holding

http://www.Seedco.in

Seedcoin Fund is the first global seed-stage Bitcoin startup fund. The funds in bitcoin raised through this public offering will be invested in a portfolio of Bitcoin startups to be incubated by Seedcoin.

Seedcoin is a Bitcoin startup virtual incubator aiming to fund the creators of cryptocurrency related products and services such as exchanges, payment solutions, applications, mobile tech, wallets, and guide them through the first key stages of their development.


SFI aims to achieve Bitcoin-denominated capital appreciation and/or return through investments in a diversified portfolio of startups worldwide.

The startups will earn revenues from different Bitcoin-related services in a variety of geographical locations. SFI unit holders are entitled to receive Bitcoin-denominated dividends indirectly from the startups that have dividend distribution plans.

Funds raised through the SFI listing shall mainly be allocated to the Bitcoin startups and a portion shall be allocated to the management company for its operations and provision of fund management services.

SFI management company is comprised of a team of three members located in Hong Kong, Singapore and London with relevant experience in fund management, venture capital, software engineering, trading and entrepreneurship.

Offering Structure

SFI Fund will offer a total of 10,000,000 units, or 100% of Seedco Holdings Limited, all 100% of the Fund to be floated on HavelockInvestments.com.

2,000,000 (20%) will be offered on December 12th, 2013, Price Per Unit BTC0.001

500,000 Units per Block for a Total of 4 Blocks

1st Block Sold Out***

2nd Block Sold Out***

3rd Block Sold Out***

4th BlockSold Out***

8,000,000 (80%) will be offered at a later date within FY2014.

The offer on December 12th, 2013 will represent twenty percent (20%) of the units of the SFI (total units 10,000,000). These units will be offered exclusively through the HavelockInvestments.com website.


Link:  https://www.havelockinvestments.com/fund.php?symbol=SFI
Public Offering: https://www.havelockinvestments.com/fund.php?symbol=SFI#ui-tabs-3

Reports
https://www.havelockinvestments.com/reports.php

For a list of Companies Funded by Seedco and more information:
http://www.seedco.in/home/havelock