First Growth Funds invests in new FutureICO platform
Published 18-SEP-2018 16:23 P.M.
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
First Growth Funds Limited (ASX:FGF) has announced it has invested US$285,000 for 25% equity in FutureICO Pty Ltd.
FutureICO is a platform that provides a secure and compliant platform for companies wanting to issue their tokens and digital currencies. It is a joint venture company founded by DigitalX Limited (ASX:DCC), Blockchain Global Limited and Big Start Pty Ltd.
The platform has been in a research and development phase, with the new funding from FGF set to help launch the platform this financial year — subject to clearing all regulatory and compliance hurdles.
“We see a big opportunity to invest in FutureICO to help us position for future growth in the cryptocurrency market,” Executive Director of FGF, Anoosh Manzoori.
“Over the coming years we expect the cryptocurrency market to mature, undergo further regulatory changes and blockchain technology to go mainstream. We want FutureICO to become the destination for compliant ICO opportunities that takes advantage of new and established companies looking to blockchain enable their businesses,” he said.
As part of its investment, FGF will use the FutureICO platform to list its own investments that may provide distribution and liquidity for its digital currency assets.
In addition, it will have access to other investment opportunities listed on the platform. FGF will also have the right to appoint a nominee to the board of FutureICO.
Of course as with any stock, you should consider your personal circumstances before making an investment decision and seek professional financial advice if considering any of the stocks listed on this article for your portfolio.
Earlier this month, FGF announced it will assist blockchain group HCash in investing up to $15 million in some of the most innovative companies on the ASX. HCash possesses its own unique blockchain tech similar to Bitcoin and Ethereum, possessing a market cap of $150m. Subject to regulatory approval, HCash will invest $15m of HCash digital currency in ASX listed companies.
Under the terms of the placement there is no dilution or direct investment in FGF, instead the company will act as a broker and receive 6% or up to $900k in fees for facilitating the investments (FGF may also invest its own capital).
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.