SPiCE VC, the leading venture capital (VC) fund in the Blockchain/Tokenization ecosystem, which has revolutionized the VC asset class, becomes the first venture capital firm in this growing space to experience three portfolio companies successfully going public. The latest one, INX Limited, the blockchain-based platform for trading digital securities and cryptocurrencies and one of SPiCE VC’s portfolio companies, is officially the first to complete an SEC-registered token IPO.
In addition to INX’s IPO, SPiCE portfolio companies Lottery.com and Bakkt have both gone public at healthy valuations – contributing to the firm’s early and ongoing success. As a result, the firm plans to implement its first investor payout later this year.
“SPiCE’s objective has always been, and continues to be, to provide our investors exposure to the massive growth of the Blockchain and tokenization industry. This is why we’ve maintained a singular focus on investing in companies like INX, Securitize and others that are developing the world’s tokenization ecosystem, standards, and processes,” said Tal Elyashiv, founder and managing partner of SPiCE VC. “What excites us the most is our ability to generate remarkable return for our investors, while also continuing to fund, impact and influence the formation of this accelerating sector.”
INX is one of over 15 strategic investments Tal Elyashiv and the SPiCE VC management team have made within the Digital Finance sector – an ecosystem which includes digital securities, cryptocurrencies, lending, real estate, Non-Fungible Tokens (NFTs), etc.
INX’s historic IPO achieved an estimated $93 Million in gross proceeds from token sales, and a pending CA$39.6 Million private placement ahead of its Toronto Stock Exchange (TSXv) listing. In total, INX expects to have raised over $125 Million for the launch and operation of the INX fully regulated trading platform for cryptocurrencies and digital securities.
“The entire industry is experiencing success because of partnerships like SPiCE and INX’s. SPiCE understands the ecosystem and the driving forces behind it, and this has been very helpful to us,” said Shy Datika, founder & president of INX. “I am excited about INX’s success, about the partnership with SPiCE, its continued support for INX’s vision, and its investment in INX that has impacted our ability to succeed.”
SPiCE attributes its early and ongoing success to a number of factors, including explosive growth and persistent headwinds in the Digital Finance sector, as well as its long-term investment strategy, which has been the greatest catalyst of growth for the firm. In fact, SPiCE reported a Q1 2021 NAV Report up more than 15%, and over 91% unrealized gains in the first three years of operation for its early investors.
Since the fund’s first closing in mid-2018, SPiCE has focused on portfolio companies aiming to change the digital tokenization landscape – providing its investors’ wide exposure to the massive growth of the blockchain and tokenization ecosystem. As one of the pioneers of the industry, SPiCE has also played a significant role in the creation of the legal and regulatory framework that is used today.