Ember Fund aims to raise up to $1 million through share sale

QB Exchange
Nov 5 · 1 min read

Ember Fund, which has developed an artificial intelligence-based cryptocurrency portfolio management application, plans to raise up to $1 million through an SEC-registered share sale.

According to the filing filed with the SEC, the sale of “Crowd SAFE” securities will take place before the end of January 2020 on the online investment platform of the startup Republic. A SAFE (simple future capital agreement) is an investment agreement that entitles stockholders to capital in the event that an Ember Fund is acquired or becomes a public company.

Ember Fund CEO Alex Wang wants him and his founding partners Guillaume Torche and Mario Lazaro to retain control of the company. Ember Fund plans to raise between $25,000 and $1,070,000 through an SEC-registered securities sale, with the minimum amount to invest being $100.

A transcript of the commercial attached to the application States that Ember Fund will use the resulting capital to expand. According to the company’s technical Director Guillaume Torche, Ember Fund “has already processed about $10 million on the platform without any marketing budget and is ready to scale.”

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