Hillstone Weekly Update (Sept 5 ~ 8)
Welcome to Hillstone weekly update. In this report, we will introduce three products that completed fundraising in our private investment platform Fundy: Sowork Fund, Techstars Fund, and SDX Foundation Fund.
Sowork Fund
The first product is Sowork Fund which is a digital asset based on the U.S. Sowork is an online meeting platform developed by “a super tight-knit team originally founded and incubated at Harvard”.
The size of the fund pool is set at 600,000 dollars, and has finished fundraising by the closing date Aug 25, 2022. As the collateral, 1,453,487 HSF were distributed to each investors according to the investment amount. The fundraising type was private funding, with fund life 1 year, and 10% net return. The management fee for this fund is set to 2%.
Techstars Fund
The second product is Techstars Fund, which is another U.S. based digital asset. Techstars is one of the world’s biggest accelerator founded in 2006. Techstars has successfully nurtured 2.958 startups, and its overall funding amount reaches 21.3 billion dollars. Moreover, it was nominated as the top 2 accelerator in the world by Forbes. The main investment method used by the company is that It invests in early startups to acquire a mass percentage of their equities, and then connects them to global industrial partners to maximize their valuation. Hillstone Partners and Techstars are responsible for operating this product in which 10 startups will be chosen from 500 startups.
The total fundraising of this product is 880,000 dollars, which is converted to 1,827,240 HSF as the collateral. The type of fundraising is private funding, with 2 years of fund life and 45% target net return. The platform charges 5% management fee for this product.
SDX Foundation Fund
The last product that we are going to introduce for this article is SDX Foundation Fund which is operated in Korea. SDX Foundation is a eco-friendly organization in Korea which aims to reduce carbon emission. The SDX Foundation pursues sustainable development based on digital transformation (DX) technology and implements “Sustainable Development Goals” that no one is alienated from. Its partners include UN, governments, and corporates.
This is a private funding with 1 year fund life. The target net return of this fund is 10%, with management fee 5%. 100,000 dollars was raised, and 207,640 HSFs will be distributed to investors.
That is all for this weekly update. Thank you for reading and see you next week.
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