Interview with Alex Wang from Ember Fund – ALTCOIN MAGAZINE
Does the fundraiser have a video we can see?
Here is our Republic campaign video.
Why Republic over other methods?
Raising from traditional investors is a pain in the ass. The “industry standard” is to send a few thousand emails, have 100 in person meetings for 1 term sheet. This takes 3–8 months (almost full time) and really didn’t sit well with me. In addition, it comes with a ton of strings attached (liquidation preference, board seats, meetings, more meetings, updates, meetings.) I’m definitely not opposed to it given the right investor, it’s just too much for us at this early stage, especially with the revenue and early traction.
Republic, an equity crowdfunding platform, on the other hand seemed amazing. You get thousands of investors to evangelize your product, secure funding and do it all on great terms. You don’t get the “strategic” value but we were ok with that for now.
The downside is that you have to be completely transparent with your numbers and strategy. We’re proud of the progress we’ve made and didn’t have a problem with being 100% transparent so this wasn’t a problem for us but for many it is.
I see you’ve raised 25% of the maximum raise already with still more than two months to go. That’s pretty impressive. What will the raised funds be used for, and what benefits does the investors get?
It’s actually pretty simple. We’re going to spend as much of it as we possibly can acquire users profitably and building an even better product. We’re laser-focused on being super lean and scaling as profitably as we can.
You can go to our Republic Page to see the benefits and perks.
So since you let people invest like cryptocurrency hedge funds, do you actually work with hedge funds? If so, who are they, and if not, how would such partnership work?
Glad you asked! We’ve actually just announced a partnership with one of the leading cryptocurrency hedge funds, Blockforce Capital.
Blockforce Capital is a multi-strategy fund for institutional investors that optimizes return and risk through modern portfolio theory, active risk management, and quantitative finance. Ember Fund will be working with its team of data scientists, machine learning engineers, computational astrophysicists, and Wall Street veterans to launch an algorithmic Bitcoin portfolio. Stay tuned!
Lastly, for people who want to get started with the Ember app or to participate in the crowdfunding on Republic, what are the processes for doing so?
Thank you for your time, Alex, do you have anything to add before we finish?
I just want to fully acknowledge and credit my co-founders Guillaume and Mario. Guillaume Torche is our CTO and we definitely wouldn’t have the product we have today without his hard work, dedication, and passion. Mario is our CIO and was also absolutely instrumental in building the app and bringing his crypto trading experience to the team. Super grateful for the rest of the team as well, check out the team section to see who’s helping build Ember Fund.