Summary:
VanEck and Brevan Howard Digital lead a $5 million seed round for Legion, a startup focused on democratizing investment through blockchain.
Major exchanges like Coinbase, Crypto.com, and Kraken are investors, indicating strong industry backing.
Legion aims to provide a platform for token sales to retail investors, offering tools for tokenized equity and professional support for launches.
The founders have engaged with the SEC to discuss regulatory requirements, aiming for a compliant and transparent approach.
This initiative is part of a broader trend of resurging token launches in the crypto market, enhancing accessibility to capital formation.
Legion Secures $5 Million to Transform Capital Formation with Blockchain
In a significant move for the crypto and startup world, Legion has raised $5 million in a seed round led by VanEck and Brevan Howard Digital. This startup aims to revolutionize the capital formation process by leveraging blockchain technology to include small-time investors, traditionally excluded from opportunities like IPOs.
Key Investors and Backers
The funding round saw participation from major players in the crypto space, including exchanges Coinbase, Crypto.com, and Kraken. Other backers include Cyber-fund, Blockchain Builders, and GSR, highlighting strong industry support for Legion's vision.
Mission and Vision
Legion's co-founders, Fabrizio Giabardo and Matt O'Connor, stated on X: "Our mission is simple: build the most trusted brand in onchain capital formation, and bring the most promising deals to public and institutional investors." They emphasize that this isn't just a technological shift but a chance to democratize investment, breaking away from a system that has long favored the elite.
How It Works
Legion is developing a platform for startups to sell tokens directly to retail investors, offering tools for tokenized equity and other new asset classes. This includes support for CEX listings, market makers, and go-to-market strategies, positioning it as a full-stack token launch partner. The initiative builds on the legacy of ICOs but aims to provide a more structured and professional approach, with discussions already underway with the SEC to ensure compliance and proper disclosures.
Context and Trends
This funding comes amid a resurgence in token launches in the U.S., with recent examples like Bitcoin Layer 2 Bitlayer and Lombard's BARD token sale, which valued the project at $450 million. Legion seeks to capitalize on this trend by offering a trusted and efficient platform for onchain public offerings.
In summary, Legion is poised to reshape how capital is raised and invested, making it more accessible and transparent through blockchain innovation.
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