This Crypto Offering Under SEC Regulations Will Fund Neighborhood Renewal
Andrew Jewett, Co-CEO of Aperture, is writing a new script for raising money for the firm’s new real estate fund. The firm will issue a new cryptocurrency with each coin representing a share of the fund. The funds raised will be used to rehabilitate homes lost to foreclosure to make them habitable and ready for families to occupy them.
The use of a coin to represent a share of a fund is new. The SEC has argued for some time that the issuance of a new cryptocurrency may constitute the issuance of a security. Many coin issuers have avoided this by issuing their coins outside the U.S. Jewett chose to issue the firm’s new coin as a security under Regulation D section 506(c).
Preliminary Interview with Andrew Jewett, the Co-CEO of Aperture Real Estate Ventures.
The following is a brief pre-interview that provides context for the recorded interview you may watch or listen to at the top of this article.
Crowdfunding page: https://propertycoin.re/en/
What is the purpose of your crowdfunding campaign?
The proceeds from the sale of Property Coin will enable us to expand our existing business that invests in distressed residential real estate across the U.S. Our entire business is built around the idea of revitalizing communities, property by property, so much so that we actually named one of our holding entities Community Redevelopment Acquisitions. This capital raise will allow us to purchase more distressed homes in the areas in which we already operate and expand into other geographies.
More about Aperture Real Estate Ventures:
Twitter: @aperture_RE
Website: www.aperture.re
Aperture is a California-based real estate technology and investment company that seeks to innovate the way technology is used in the acquisition, rehabilitation and disposition of distressed residential real estate. Our business revitalizes neighborhoods, creates jobs and improves communities, all while making money.
For-profit or Nonprofit: For-profit
Andrew co-authored this piece about their ICO experience: https://medium.com/property_coin/issuing-an-ico-in-the-us-one-companys-experience-aeca56d6444d
Andrew Jewett
Photo credit: Studio Appingo
Andrew Jewett’s bio:
Twitter: @andrew_aperture
Linkedin: https://www.linkedin.com/in/andrew–jewett/
Prior to co-founding Aperture in 2016, Andrew was the co-head of capital markets at one of the largest fix and flip operators in the U.S. While there, Andrew was responsible for the oversight and management of institutional fundraising efforts, including equity raises, corporate debt and structured investment vehicles. Andrew was also involved in strategy, underwriting guidelines, credit decisions, loan sales and capital markets activities at that company’s investor loan origination subsidiary, one of the largest private money lenders in the industry. Additionally, Andrew oversaw the development of the asset backed securitization platforms for that company. In addition to his capital markets functions, Andrew spent significant time focused on business development and corporate strategy and was responsible for numerous strategic initiatives.
Prior to that, Andrew was a Director at RBS and its predecessor, Greenwich Capital where he acquired, managed and securitized multi-billion dollar portfolios of non-performing and re-performing mortgage loans as well as managed structured lending facilities and securitizations for a wide variety of clients.
Andrew graduated from Babson College with a major in Finance.
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