Jason has been showcased in panel and individual presentations in a number of Tech and Marketing conferences, along with over 180 Episodes of his “Test. Optimize. Scale.” Podcast. He is also committed to a number of thought leadership content projects for 2025, including the Forbes Agency Council and Crowdfunding Professional Association Board. Jason manages a Los Angeles team with experience in all aspects of the user journey
Details of Mr. Fishman’s achievements and recommendations can be viewed on his LinkedIn profile.
Scott McIntyre. 2024 marked Scott’s 9th term as Chairman of the CfPA’s Board of Directors, having served in leadership since formation in 2012, including four terms as President & Chair.
Complementing his work at CfPA, Scott founded 501(c)3 non-profit WEconomy-US, Inc. to implement the breakthrough economic development platform he co-authored, the Sustainable Communities Framework (SCF). Scott serves as a director and advisor to both the Sustainable Communities Foundation, a 503(c)3 fiscal policy NGO responsible for the SCF, and at Community Vision Associates, helping preserve legacy neighborhoods sustainably and equitably with novel real estate strategies.
Scott is a proponent of regenerative agriculture, actively supporting the development of an industrial hemp ecosystem domestically. He is a partner at Renaissance Park Corporation, a JV-driven R&D firm based in Sausalito, California, and founded Ohio-based co-op Hemp Made Products (HMP) to help farmers and their communities prosper from the re-shoring of this important industry as shareholders, not just stakeholders. Scott served an interim role as CEO at Root Origins and at a unit of Groupo Venture Capital, a Chilean investment bank.
Scott is a lifelong entrepreneur and venture catalyst. His first startup, TheBigHouse, recently amalgamated several of Scott’s ventures under one roof, including strategy/media/capital firm Phabriq Development, and COventures, providing key technology and practical guidance for aspiring entrepreneurs and innovation communities.
Scott is a recognized pioneer in Education Technology since his role as a founding executive of REAL Education in 1994, the startup that built the first online education platform, launching worldwide as eCollege at IPO in 1999. eCollege is now a cornerstone of Education market leader Pearson, having acquired eCollege for $477 million in 2007. As a Director at The University of Toledo, Scott was responsible for designing and building the school’s first Office of Student Entrepreneurship and Engagement. Scott previously managed the State of Ohio’s Edison Technology Business Incubator and continues to mentor aspiring entrepreneurs.
Scott is active in impact investor communities both local and abroad, notably as an advisor to the 360 One Firm. Scott was invited by President Obama to The White House as a Champion of Change related to CfPA’s landmark work in Crowdfinance. He was also selected by the U.S. State Department to address the Finance Ministers of the European Union on the subject of Alternative Finance at a 2018 meeting in Vienna. Scott has consulted governments and addressed crowds in excess of 20,000 in China, Russia, India and Australia, and he maintains an active network of leading foreign alternative finance bodies with colleagues in over 20 countries.
Details of Mr. McIntyre’s work history, achievements and recommendations can be viewed on his LinkedIn profile.
Brian Christie is CEO of Brainsy, Inc. – an innovative SaaS company offering a white label social media engagement platform that can reward participants for their engagement and that can be owned by the community. Brian’s vision for Brainsy is that it will spawn thousands of social media micro-networks – each using their own incentive system and currency (optional) to reward their community of contributors.
Brian is also an Advisor at Crowdfund Holdings Innovators (CHI), a company that incubates innovative crowdfunding concepts and advises issuers on raising money through regulated investment crowdfunding. Brian has advised or invested in various start-ups and served in a board or executive role at companies such as LTVtrade, Promontory Interfinancial Network, and quantumStream. Specialties include: fintech, digital marketing, strategic alliance formation, impact investing, international business development and cross border transactions. He’s a fan of any movement, innovation, technology, law, or regulation that creates opportunities, serves the public interest, and levels the economic playing field.
Brian received a Bachelor of Arts in Political Science from Miami University and an MBA from Georgetown University
Sara Hanks, Founder and CEO of CrowdCheck, is an attorney with over 30 years of experience in the corporate and securities field. CrowdCheck provides due diligence, disclosure and compliance services for online capital formation. Its services help entrepreneurs and project sponsors through the disclosure and due diligence process, give investors the information they need to make an informed investment decision and avoid fraud and help intermediaries avoid liability.
Sara’s prior position was General Counsel of the bipartisan Congressional Oversight Panel, the overseer of the Troubled Asset Relief Program (TARP). Prior to that, Sara spent many years as a partner of Clifford Chance, one of the world’s largest law firms. While at Clifford Chance, she advised on capital markets transactions and corporate matters for companies throughout the world. Sara began her career with the London law firm Norton Rose. She later joined the Securities and Exchange Commission and as Chief of the Office of International Corporate Finance led the team drafting regulations that put into place a new generation of rules governing the capital-raising process.
Sara received her law degree from Oxford University and is a member of the New York and DC bars and a Solicitor of the Supreme Court of England and Wales. She serves as co-Chair of the SEC’s Advisory Council on Small and Emerging Companies. She holds a Series 65 securities license as a registered investment advisor. Sara is an aunt, Army wife, skier, cyclist, gardener and animal lover.
Jenny Kassan has almost three decades of experience as an attorney and advisor for mission-driven enterprises. She has helped her clients raise millions of dollars from values-aligned investors and raised over $3 million for her own businesses.
She is the author of Raise Capital on Your Own Terms: How to Fund Your Business without Selling Your Soul (Berrett-Koehler, October 2017).
Jenny earned her J.D. from Yale Law School and a master’s degree in City and Regional Planning from the University of California at Berkeley.
She served on the Securities and Exchange Commission Advisory Committee on Small and Emerging Companies. She submitted the petition to the SEC that led to the passage of the 2012 JOBS Act and was present at the White House signing ceremony.
Brian is the Founder of Crowdwise, LLC, and is an angel investor in 80+ private startups through equity crowdfunding.
He obtained a dual B.S. in Aeronautical and Mechanical Engineering from Rensselaer Polytechnic Institute in 2009 with a minor in Economics and French, and a dual M.S. in Aerospace and Mechanical Engineering from the University of Southern California in 2012.
After working as an engineering lead and manager at a Fortune 500 company for 10 years, Brian left the defense and aerospace industry to embark as an entrepreneur and founded Crowdwise in 2019.
Crowdwise is an online startup investing community focused on helping both investors and entrepreneurs navigate equity crowdfunding by providing courses, tools and educational content.
Samson is a classically trained anthropologist, finance and public health expert who advises Fortune 100 companies, executives and startups in Dubai, Washington, DC and Dublin, Ireland.
Samson learned his craft as Emergency Manager at Fannie Mae 2008 – 2016 and has since gone on to be a leading advisor to banks and financial institutions in the Dubai / Middle East North Africa region.
Samson’s focus is helping firms understand the latest human trends in fintech, digital transformation, the Space Economy and Low Earth Orbit entrepreneurship so that they can make profitable decisions for their bottom lines.
Follow Samson on Twitter/Instagram @MilkyWayEconomy or reach out to him on LinkedIn to follow the latest insights in his academic and market research.
Patrick Tracey is Director of Business Development for Morrow Sodali. In this role, Pat brings expertise in a number of areas including Proxy Solicitation – Activism – Corporate Governance Advisory – IPO Prep – Demutualization (Insurance Companies, Community Banks and Credit Union) – Stock Surveillance for Public, Private and Mutual companies.
Pat has an impressive history in the securities industry. He has worked with community banks and insurance companies who have raised capital via mutual-to-stock conversions, mutual holding company formations and sponsored demutualizations, including the historic MetLife demutualization and the 1995 stock offering by the Boston Beer Company to retail customers.
Pat is on the advisory board of Fordham’s Gabelli School of Business program in investor relations and has guest lectured at Fordham, New York University, Baruch College and DePaul University on investor relations topics. Pat is a graduate of New York University.
Blaine McLaughlin is the Chief Product Officer of VIA Folio, an innovative IPO, private and alternative investment platform that makes it easy for online platforms, issuers, investors, brokers and advisors to engage with IPOs, private and alternative debt and equity offerings. Part of Folio Investments, Inc., VIA Folio supports issuance, custody, servicing and secondary transactions in public and private equity and debt investments, and other listed and unlisted securities. McLaughlin joined the company in 2007, and has led retail customer acquisition and management, partnerships, portfolio acquisition, introducing broker services, and other business development activities.
McLaughlin previously served as a Director of Marketing and Analysis at Capital One for credit card and direct banking divisions, and as an officer in the U.S. Navy. He has more than 15 years of experience in the financial services industry, holds a degree in economics from the University of California at San Diego, and an MBA from the Wharton School at the University of Pennsylvania.
Jordan Fishfeld is the former CEO and co-founder of PeerRealty (sold), and current Chairman of the Board and co-founder of CFX Markets and OpenFinance Network, secondary market platforms for traditionally crowdfunded and digital assets, respectively. In this role, he focuses his time on strategic planning and general oversight in the new and growing digital marketplace. With over 8 years of compliance, legal, investing, and sales experience in regulated markets, Jordan understands the need for a single coherent voice in the crowdfunding and blockchain industries.
Prior to founding PeerRealty, Jordan worked as a finance attorney for Katten Muchin Rosenman, LLP, where he assisted on more than $1 billion worth of syndicated loan transactions.
Additionally, Jordan sits on the board of Upstart, a national non-profit tasked with bringing bold, new and innovative Jewish ideas to light through its accelerator and mentorship program.
Jordan received his Bachelor of Arts in Political Science and his Bachelor of Science in Business Administration from the University of Florida and his Masters of Business Administration and his Juris Doctor from the University of Miami, where he graduated Magna Cum Laude.
Over 35 years of experience in Information Technology with the majority of time being spent in the Financial Services industry. Possesses detailed knowledge of all aspects of the online capital formation/crowdfunding, international brokerage, hedge fund and asset management businesses. Able to recruit and motivate strong teams capable of solving mission critical business problems.
Has been involved in the alternative asset space since prior to the passing of the Jobs Act as the founder of CrowdClear a company formed to provide back office clearing and settlement services to firms raising capital using Regulation D. Currently works as the Director of Business Development for Koreconx, the premier supplier of technology and services helping firms manage all aspects of the investment lifecycle.
Devin is a journalist, author and educator. He calls himself a champion of social good. As a new-media journalist and founder of the Your Mark on the World Center, Devin has established himself as a champion of social good. As a Forbes contributor, with over 400 bylines and over
one million unique readers, he has become a recognized name in the social impact arena. His Your Mark on the World show, featuring over 900 celebrities, CEOs, billionaires, entrepreneurs and others who are out to change the world, gives him a recognizable face as well.
Previously, Devin served as the CFO of the third largest company on the 2009 Inc. 500 list. He also founded and led an NASD-registered investment bank. After completing a degree in finance at the University of Utah, he earned an MBA from Cornell University.
Having lived on three continents and visited over 30 countries on six continents and with guests from around the world on his show, Devin brings a global perspective to international audiences–from the UN to Nepal–empowering them to do more good and make their mark on the world. These lessons also enable them to change their personal lives and to drive positive change within their organizations. His books provide roadmaps to audiences on how to use money for good. His books have been read over 1 million times!
Today, Devin channels the idealism of his youth, volunteering whenever and wherever he can, with the loving support of his wife, Gail. Their son, Dayton, works in San Francisco.
Vincent Molinari is the CEO of Templum Markets, (FINRA Registered Broker Dealer and ATS) and Co-Founder of it’s parent company, Templum, Inc. He is also a Co-Founder and Co-Chair of the Blockchain Commission for Sustainable Development and is a Co-Founder and Co-Chair of Blockchain for Impact.
Vincent Molinari has nearly 3 decades of experience as a licensed person in the securities industry where he began his career at Lehman Brothers and later at Janney Montgomery Scott. He is a recognized thought leader on the modernization of securities law and the intersection of breakthrough innovation and technology solutions.
Vincent is an active Global Speaker on Market Infrastructure, Capital Formation, Blockchain, Digital Assets, Impact Investing, and the JOBS Act. He is the host of the Digital Assets Report filmed at the NYSE and has been invited to testify before the U.S. House of Representatives Committee on Financial Services, Subcommittee on Capital Markets, and Government Sponsored Enterprises. Mr. Molinari has also testified before The Securities and Exchange Commission’s Advisory Committee on Small and Emerging Companies regarding secondary market liquidity.
He has participated in authoring 16 Comment Letters and Petitions for Rule Change to the SEC and FINRA. In addition, he consults with members of Congress and Senate on these issues.
David N. Feldman concentrates his practice on corporate and securities law and mergers and acquisitions, as well as general representation of public and private companies, entrepreneurs, investors, and private equity and venture capital firms. Mr. Feldman also advises emerging growth companies with regard to alternatives to traditional financing through initial public offerings. He is also considered an authority on public offerings through the recently implemented SEC Regulation A+. Mr. Feldman also represents investors, social media sites, public and private issuers and applicants for grow and dispensary licenses in the emerging cannabis industry.
Mr. Feldman has authored four books on finance and entrepreneurship, and contributed to three other books. His latest book, Regulation A+ and Other Alternatives to a Traditional IPO (John Wiley & Sons), was published in March 2018.
Alon is the Managing Partner of Stacked Capital, an early-stage industry agnostic venture capital fund. Previously Alon was the co-founder, Chief Financial Officer, and Chief Technical Officer of crowdfunding platform RocketHub, acquired in 2015. Alon is a founding member of the Forbes Technology Council, and a Strategic Advisor to Zombie Soup (Artificial Intelligence, Virtual Reality, and games); he has twice testified in front of U.S. Congress on equity crowdfunding, co-authored three acclaimed whitepapers on the JOBS Act, and was selected to lead FINRA’s Capital Markets Series on crowdfunding. Alon oversaw RocketHub’s partnerships with the White House, U.S. Department of State, Fulbright Foundation, Cisco, Microsoft, Chrysler, and others. Alon has led large speaking engagements for organizations including American Express, TEDx, Campaign Summit, Re.Comm, and Make Innovation. Alon earned his M.Sc from Columbia University and was a fellow at the Earth Institute’s Advanced Consortium of Cooperation, Conflict, and Complexity; he specialized in genocide prevention and social network theory.
Jason Paltrowitz is Executive Vice President and Global Head of Business Development at OTC Markets Group, where he is responsible for all international and domestic corporate services new business and relationship management. Prior to joining OTC Markets in October 2013, Mr. Paltrowitz was Managing Director and Segment Head at JP Morgan Chase and was responsible for the custody, clearing and collateral management business in the Corporate and Investment Bank division. Mr. Paltrowitz started his career at BNY Mellon serving in multiple senior management positions, most notably as Head of M&A for the Financial Markets and Treasury Services Sector and 11 years in the Depositary Receipt Division as the Head of the Global Capital Markets Group. Mr. Paltrowitz also served as a member of the Board of Directors at OTC Markets Group from 2008 – 2011.
Mr. Paltrowitz holds a Bachelor’s degree in International Relations from Boston University and received his MBA from the NYU Stern School of Business.
Thell Woods, a former interim president of the CfPA, founded and currently serves as chairman of Crowdfunding Services LLC. The company helps establish “Community Centric Crowdfunding” programs offering both non-profit and securities offerings. Thell serves specifically defined communities throughout Michigan developing the www.C3funding.com website as the base for these programs.
A Realtor since 1958, Woods has been President and Realtor of the year of the Gratiot/Isabella Association of Realtors and a Director of the Greater Kalamazoo Association of Realtors. He served as a Vice President of the Michigan Association of Realtors and served 8 years as a National Director of the National Association of Realtors. In 2000, he was honored by the Michigan Association of Realtors as the recipient of the Realtor Active in Politics Award.
In addition to his real estate activities, he has served as the Securities Broker for his Syndications Corporation Broker Dealer which then had over 100 Realtors as licensed direct participation program securities representatives. During this time he also developed and sold over 60 Reg. D type private Real Estate offerings.
Among his other businesses, he developed Internet Connection Services an early Kalamazoo Area internet service provider and established Qualified Intermediary Services to facilitate section 1031 tax deferred exchanges and has earned the CES Certified exchange Specialist designation from the Federation of Exchange Accommodators.
Darren Marble is the CEO of CrowdfundX, a pioneering crowdfunding agency serving corporations and entrepreneurs across a wide mix of industries and geographies. The company helps clients to effectively architect and execute strategic equity and rewards-based crowdfunding campaigns that build brand equity and drive growth.
Notably, under Darren’s leadership, CrowdfundX designed, produced and marketed the Reg A+ equity crowdfunding campaign for Elio Motors, which raised just under $17 million from 6,200+ investors. Elio subsequently listed on the OTC Markets OTCQX under the symbol “ELIO,” making it the first company in the United States to have completed a Reg A+ equity crowdfunding offer and list shares on a public exchange. At present, CrowdfundX is currently managing more than a dozen Reg A+ equity crowdfunding campaigns.
Darren is a featured LinkedIn contributor and an active public speaker, having recently spoken as a guest lecturer at the Stanford Graduate School of Business, USC Marshall School of Business, UC Irvine, the CSUN Entertainment Alumni Network and the ESGCI Business School in Paris, France. His insights have been featured in Forbes, the Los Angeles Business Journal, Bankless Times and others.
Dr. Richard Swart is recognized as the global thought leader in the crowdfunding industry. Richard is a founding board member of the Crowdfunding Professional Association (CfPA), the Crowdfunding Intermediary Regulatory Advocates (CIFRA), and an early leader in the field. Richard co-organized the first major national conference on crowdfunding and coordinated several educational events on the JOBS Act throughout the United States for the White House.
As a research scholar in the Institute for Business & Social Innovation in the Haas School of Business, he is the University’s resident expert on crowdfunding and evolving models of alternative finance. He also organized the Annual Academic Symposium on Crowdfunding Research. He currently advises the Bill and Melinda Gates Foundation, and works with several other prominent foundations, think tanks, funds and corporations. He is co-author of the forthcoming book Crowdfunding: The Corporate Era, being published in June 2015.
Richard has emerged as the global expert in developments in crowdfunding. He was the lead author on a research project for the World Bank exploring crowdfunding and funding models for innovative technology. He has lectured in Europe, the UK, Africa, the Middle East and throughout the United States. In recognition of his research in the United Kingdom, he was recently made a Fellow of the Royal Society of Arts.
Dr. Swart was the lead author or researcher on the World Bank’s report on Crowdfunding and it’s Potential Impact for the Developing World. He partnered with the University of Cambridge to complete the first Country level-study of alternative finance: The Rise of Future Finance: The UK Alternative Finance Benchmarking Report. With Crowdfund Capital Advisors he authored the report: How Does Crowdfunding Impact Job Creation, Revenue and Professional Investor Interest? – the first report that empirically demonstrated crowdfunding’s effects on job creation and future investments.
After leaving Utah State University’s Huntsman School of Business where he taught Information Systems, he has worked with a number of startups and has become a key organizer in the entrepreneurial ecosystem. He is a former COO of an Internet startup that had a successful exit in 2010. Richard is a board member and strategic advisor to firms in the crowdfunding and alternative investing space.
Xiaocheh Zhang currently serves on the CfPA Board of Directors. He is also a co-founder of the Crowdfunding China Society (CFCS). As a crowdfunding thought leader, he has advised many organizations in applying alternative finance and result-based approach in transforming their business models. He has provided services to World Bank, United Nations, TUEV SUED, Virginia Tech, Peking University and some other organizations in the past 15 years. Xiaochen has rich experience in both public and private sector in America, Africa, Asia, Latin America and Europe to incubate and scale up innovative programs and projects at all levels. He is also a recognized speaker in climate finance, green innovation and crowdfunding. Here are a few examples:
Rodney Sampson is an innovator, serial entrepreneur, angel investor, published author, and consecrated bishop. As an innovator and serial entrepreneur, Sampson co-founded Multicast Media Networks (Streamingfaith.com) in 2000 (acquired in 2010), a live and on-demand streaming platform that laid the foundation for companies like YouTube and Ustream. Not stopping there, Sampson co-founded Intellectual Currency (an integrated marketing, intellectual property, diversity & inclusion and business development advisory firm) in 2002, Intellect Inspire (a digital publishing imprint of Audible) in 2006, and Legacy Opportunity Fund in 2007 with investments in technology, consumer products, energy, cyber-security, publishing and the entrepreneurial ecosystem. He also serves on the advisory boards of Digit, a disruptive financial technology company, Mark Burnett Productions, Springboard Fund and multiple startup and early stage companies throughout the world.
Sampson is passionate about reducing our nation’s poverty and wealth gap by advancing the cause of S.T.E.M, innovation, entrepreneurship and capital formation as a way of life for all communities. To advance this definitive cause, Sampson created Opportunity Ecosystem (OE). Opportunity Ecosystem includes Opportunity Hub, a multi-campus coworking space, coding college, entrepreneurship school, pre-accelerator and incubator. Opportunity Hub is also home to Opportunity Ventures, a new seed and early stage investment fund. In January 2013, Sampson launched Kingonomics, the nation’s leading platform for minorities and under-served communities to learn, navigate and master the investment ecosystem. Kingonomics conferences, events and trainings attract over 1,500 entrepreneurs, 500 teenagers and 100 accredited investors and mentors annually.
As a member of the Board of Directors of the Crowdfunding Professional Association (CfPA), Sampson is an active advocate and respected authority on Federal equity crowdfunding via the Jumpstart Our Business Startups Act (JOBS) Act and intrastate equity crowdfunding via Georgia’s “Invest Georgia Exemption”. Always meditating, thinking, networking and connecting to disrupt economic culture, Sampson is innovating what he has branded as an “ecosystem based capital formation platform” – designed to interconnect the capital markets of minority owned financial institutions, business associations, churches, neighborhood & community organizations, historical black colleges and universities (HBCU’s) and the constituents they mutually and respectively serve. The platform will allow underserved and under-represented communities to learn, engage and invest in the private capital markets by providing access to relevant investment opportunities traditionally reserved for accredited and institutional investors. The long-term outcome will result in sustainable new job creation, wealth creation and a better society for all.
Throughout this journey, Sampson has maintained the creativity of his youth and early entrepreneurial career as an experienced advisor, integrated marketer, business developer and connector. Having worked very closely on Mel Gibson’s The Passion of The Christ, Disney’s The Chronicles of Narnia: The Lion, The Witch & The Wardrobe & The Untold Story of Emmett Louis Till, Sampson was tapped in 2013 by Mark Burnett to create the diversity and inclusion initiatives at One Three Media, a joint venture between Mark Burnett Productions and Hearst. Mark Burnett is the Executive Producer of The Voice, Survivor, Celebrity Apprentice, ABC’s Shark Tank, The Bible Series, Son of God Movie & A.D. In Seasons 5 & 6 of the hit ABC show Sharktank, more than 15 minority-owned startups were afforded the opportunity to pitch their companies for angel investment on the show. Even in his advisory practice, Sampson is still working tirelessly to close the wealth gap while simultaneously shifting culture’s perceptions of minority entrepreneurs and investors.
Brian Korn was elected to the Board of Directors (Legal P.O.V.) of the Crowdfunding Professional Association in January 2014. Brian is a corporate and securities attorney at the law firm Manatt, Phelps & Phillips, LLP, and has had multiple appearances on Fox Business Television, Bloomberg, CCTV America and National Public Radio as an expert on the JOBS Act, including its impact on crowdfunding, peer-to-peer lending, IPOs and market trading dynamics. He has been published or quoted in Forbes, CNBC, MSNBC, New York Law Journal, Law360, Philadelphia Inquirer, Pittsburgh Post-Gazette, The Financier Worldwide and The Review of Securities & Commodities Regulation.
Brian is the author of several articles on capital raising and investor liquidity, and has several clients in the peer-to-peer lending space. Brian is the author of “The Trouble with Crowdfunding” published in Forbes, as well as the Forbes article announcing the SEC’s crowdfunding rules proposal. Prior to joining Pepper, Brian was Head of Equity Capital Markets and Syndicate Compliance at Barclays and was Senior Vice President and Assistant General Counsel for Citigroup Global Markets Inc. Brian is an honors graduate of the University of California at Berkeley and the Northwestern University School of Law.
Thomas Lawson is vice president of private issuer services for VIA Folio, Folio’s private capital network. In his role at VIA Folio, he provides legal and regulatory guidance to business development and operations. As part of this work, he supports VIA Folio’s online transactions in unlisted securities. He joined Folio in 2015.
Prior to joining Folio, Tom was a chief counsel for the enforcement department of the Financial Industry Regulatory Authority (FINRA) and assistant director of enforcement at the U.S. Securities and Exchange Commission (SEC). In total, he brings more than 25 years of experience in securities law and financial industry regulation.
Tom earned a bachelor’s degree in Classics from Union College and a law degree from Hofstra University’s School of Law.
AdaPia D’Errico is the Chief Marketing Officer at Patch of Land, where she heads up marketing, which includes strategy, brand, communications, partnerships and client services. Prior to joining Patch of Land, AdaPia ran a consulting company that developed growth strategies for major brands at Disney and Mattel, as well as technology and new media startups. AdaPia began her career at CIBC and subsequently spent 8 years in banking and investment management with a focus on customer relationship management, investor relations, and corporate communications. AdaPia is a published writer, blogger for The Huffington Post, and is a public presenter on topics including growth strategies, entrepreneurship, crowdfunding and brand development. AdaPia holds a B.B.A from the University of British Columbia and a B.A in International Business Economics from Hogeschool Zeeland, The Netherlands.
Dara Albright is a recognized authority, thought provoker and frequent speaker on topics relating to market structure, private secondary transactions, next-gen IPOs, P2P, FinTech and crowdfinance. Albright has held a distinguished 23 year career in IPO execution, investment banking, corporate communications, financial marketing as well as institutional and retail sales.
She is a visionary who continues to introduce rising asset classes and crowd-structured financial products to the Wall Street community. Albright was one of the earliest voices covering the JOBS Act and advocating for greater democracy in the equity and credit markets. She produced the very first crowdfunding conference in January 2012 which was headlined by key JOBS Act architects: Congressman Patrick McHenry and Dave Weild. That event helped birth the crowdfinance movement and led to the establishment of the industry’s trade and leadership organizations – which she co-founded. In 2013, she co-founded LendIt, the largest and most recognized global p2p & online lending conference organization. In 2015, she co-founded FinFair, the first conference platform to feature the leadership, products and technologies driving the crowd-centric retail alternatives market. Some of the most prominent figures in the financial industry as well as the legislature continue to participate in Albright’s events. Her leading-edge articles that have helped shape the direction of the crowdfinance industry can be found on Equities.com, Crowdfund Insider, Seeking Alpha, Investing.com, FINalternatives and Business Insider. She has been featured in the NY Times, Forbes, ABA Banking Journal, Thestreet.com, Private Wealth Magazine as well as in a number of leading industry trade publications. Albright continues to help issuers, investors as well as financial service providers across the globe capitalize during this unprecedented period of financial industry disruption and regulatory reform. Prior firms she worked for include: Unterberg Towbin, Morgan Stanley Dean Witter, Divine Capital and Citigate Dewe Rogerson. She is a graduate of the George Washington University and holds securities industry Series 7, 24, 31 and 63 licenses.
Crowdfunding is Here and so is the Infrastructure
CROWDFUNDING IS HERE AND SO IS THE INFRASTRUCTURE
The language of crowd funding technology, capital formation, the requirements and the rules and regulations has been centered on Funding Platforms for the Intermediaries (Brokers and Register Funding Portals). However, some thought leaders in the industry have been listening and speaking a different language and realized that in order for crowd fund investing to be sustainable, the physical components of interrelated systems that provide the framework, commodities and services to the market place is essential to enable, sustain, and enhance the physical and organization structures for the crowd funding ecosystem to function properly.
Companies like the Funding Roadmap, Crowdnetic, CrowdBureau, Gate Technologies and CrowdCheck have banded together to create solutions that span the life of a company, from idea to sustainability. Viewed functionally, the crowdfunding infrastructure facilitates the production and maintenance of compliant equity and debt based offerings that will eventually list on registered funding portal platforms that will serve as conduits of salient information for the investors. These services cover reporting, real-time market data, ratings, research, anti-money laundering, compliance, escrow services, clearing and settlement.
Infrastructure companies play a significant part in evolving the crowd fund ecosystem, both in terms of where the interconnections are placed, made accessible and in terms of how much information can be carried and how quickly. As required in crowd investing, security, transparency and information will be required in order to help investors, “the Crowd,” make informed decisions. Crowd intelligence along with aggregated data and research services that track the lifespan of an issuer’s capital raising efforts make the provision of these services unique and absolutely necessary to the long-term health and sustainability of the crowd investing industry.
Every day debt and equity raises are being conducted on pioneering sites like TheFundersClub and CircleUp that allow investors to invest relatively small amounts in start-ups and operating companies, alike. While these sites cater to accredited investors, defined by the Securities and Exchange Commission as anyone making over $200,000, individually, or $300,000 jointly per year, or who have a net worth (minus their primary residence) of $1 million, that’s a lot of individuals. The JOBS Act, Title III caters to the non-accredited investor making the landscape that much larger. The reality is the JOBS Act, even if the SEC delays their rulemaking, opened America’s eyes to the fact that laws already existed that allowed emerging companies to gather investments from a large group of investors. The use of the internet for this activity is now a means to reach more investors efficiently.
It is critical to observe that equity and debt based crowdfunding is not the Kickstarter model, which is reward/ donor based and allows ideas like video games and gadgets to be pre-sold to the masses. Equity and debt based crowdfunding, allows for shares of a company to be sold to non-accredited investors whereby transactions are facilitated on a funding portal and will be a welcome and new critical component to the traditional capital markets. What self-directed investing, vis a vis online brokers like eEtrade and Schwab, did for the masses in the ‘90s crowd investing will do for the private placement market.
With 2013 quickly approaching, it is important for the ears of the “Crowd” to become fine tuned to the language that the crowdfunding industry speaks. Realizing that this new way to create capital formation is not solely dependent on having a great idea or the Funding Portals, but rather the infrastructure, information and ancillary services that will enrich the end-to-end experience of the entrepreneurs and the investors. Third party service providers like the Funding RoadMap, Crowdnetic, CrowdBureau, Gate Technologies and Crowdcheck to name a few will continue to make steady strides in developing a healthy ecosystem that will support capital formation, lend a helping hand towards education and further advance the crowd investing industry.
Luan Cox
Kim Wales,
Why Fraud Won’t be an Issue in Crowdfund Investing
When Crowdfund Investing starts in 2013, some regulators would have you believe that the Wild West of securities fraud will be perpetrated on the American people. Give the regulators a break. All they see, all day long, is securities fraud. They don’t understand that 99.9% of the markets function just fine. That fraud is a minute part of any efficient market and that markets don’t stop operating because there are bad actors. Remember, people still invest in the public markets despite Worldcom, Enron, Bernie Madoff and even Facebook. People still use credit cards despite identity theft. eBay never went out of business because of a few bad deals but introduced rating systems to provide clarity and credibility based on reviews.
Here are the steps a perpetrator will have to take to commit fraud within the Crowdfund Investing legislation and framework. Please note, fraud committed outside of the legislation and framework is fraud. It isn’t “crowdfunding fraud.” Just fraud. With that said, here’s what conniving fraudsters need to know.
1) Stay Hidden & Stay Situated: I asked an FBI securities fraud agent at a self-direct IRA conference in Scottsdale, AZ recently how many fraudsters self identify themselves. He said “none.” Unfortunately within Crowdfund Investing before anyone begins he has to submit to a background check. What does this mean? Well it means validating that he is an actual person at a valid address and he don’t have a checkered past. Know how else to prevent fraud? Look for people who have resided at an address for over 4 years. Fraudsters are on the move, average Joes aren’t.
2) Come up With a Brilliant Idea with a Great Revenue Model: Be creative here and realistic. This pitch is going up on a SEC-registered websites and it really needs to engage the crowd. All of this will be overseen by portals, regulators and the crowd. At the end of the day a fraudster’s idea needs to entice people to come to his pitch page and then he will need to defend why this is such a good investment to people who are going to be posting comments like, “This is a scam.” The backbone of crowdfunding is the dialog that takes place between the entrepreneur and investor. That dialog either builds confidence and trust or not. If a fraudster can’t win over the crowd in this open, many-to-many dialog then he won’t get funded.
3) Build a Large and Strong Social Network of People You Wish to Swindle: For Crowdfund Investing to efficiently operate one’s social network will be the center point of success. After a fraudster has loaded his amazing idea up to that SEC-registered website, he will connect his Facebook, LinkedIn, Twitter, Google+, etc friends. This is how he will market his pitch within the Crowdfund Investing regime. So make he needs to have lots of friends that believe in him AND his idea. Because those first-degree people are the ones he will need to take advantage of. That’s correct, those closest to him! And finally,
4) AIM for 100%: The legislation requires that a shyster hit 100% of his funding target or no money is exchanged. So he will need to aim low. He doesn’t want to put a pitch up there for $250,000 and only get commitments for $249,000 and fail. It is mandatory that in this open platform users win over the confidence of their community, get them to commit funds that go into an escrow account (the funds don’t get released until 100% of the target is reached and, if the target is reached in less than 21 days since the pitch went live, the issuer MUST WAIT 21 days to get his money. So let’s hope no one blows his cover).
And there you have it! If a shyster has a lot of time to waste building a real social network and has the ability to develop a smart business idea that will garner lots of small dollar investments from those people who trust him, and he can convince all of them to help him hit 100% of his funding target, AND no one blows his cover as has been shown with pretty much every fraud that’s been perpetrated on crowdfunding platforms to date, then voila he’s done it! Seem like a lot of work for probably a little amount of money? It is. In reality fraudsters look for quick and easy ways to make a buck. Crowdfund investing won’t be that for fraudsters and unfortunately either for sincere entrepreneurs who aren’t prepared to use this powerful tool.
The way to prevent fraud is not by preventing people from investing but educating them. Our job (everyone’s job that is) is to make sure that people understand if something sounds too good, it probably is too good. Our government needs to start a nationwide campaign featuring the Nigerian Prince, the Abducted Nephew and the Securities Fraudster saying, “if you don’t know me, don’t believe me.” It will cost both our nation and our economy far less money then the amount of money gullible people currently lose to these shysters.
Conclusion, “Just say NO, to people you don’t KNOW!” This doesn’t just go for investing in crowdfund securities down the road but people who randomly call you on the phone telling you about the next Facebook and how you can invest through them. Or asking you for donations or to bail your nephew out of jail. Or just investing in something you don’t know or understand. Heck it goes back to what our parents taught us as children, “ don’t taking rides from strangers or trust candy from that suspicious people!”
Sherwood Neiss is a Principal at Crowdfund Capital Advisors. CCA is a strategy and technology advisory firm that works with Governments and NGO on implementing a CFI infrastructure.
What are the Global Implications for CFI
Government focused on growing economies focus on creating jobs. Small business and entrepreneurs are the driving force behind every successful economy across the globe. Cultures and governments that embrace and celebrate the entrepreneur are more likely to succeed in both the short and long term.
Although crowdfund investing is not an economic cure-all, it can be an important part of the solution. It allows significant numbers of citizens to make modest investments in high-growth and/or community businesses. And it can benefit your country for the following reasons:
1. Ideas Follow the Money
Fostering an ecosystem that encourages entrepreneurship and innovation requires capital. If the financial markets or regulations in a particular country are such that capital isn’t flowing, businesses can’t get the money they need. Entrepreneurs who are passionate enough about their ideas will go where the money is available to fund them. This is why many Canadian entrepreneurs head to the United States: because capital is more readily available to fund them there. Countries that wait to update their securities laws will create “brain drain” as skilled entrepreneurs head to other countries where they can fund and launch their businesses. An idea that is successfully funded in one country generally stays there and rarely returns back to the entrepreneur’s country of origin.
2. Ideas Turn into Job-Producing Businesses
Ideas launch businesses. Businesses require people to grow. Good ideas can turn into great job-creating businesses. According to the Small Business Administration, all net new jobs in the United States in the past 30 years were created by small businesses. Big businesses employ thousands of people, but tens of thousands of small businesses create a much larger number of jobs. Crowdfund investing allows a community to fund local businesses and, in doing so, to create its own jobs.
3. Job-Producing Businesses Are Tax Revenue Generators
Businesses pay salaries to employees. Employees pay payroll taxes to the government. U.S. payroll taxes fund both Social Security and Medicare. The more jobs there are, the greater the tax receipts. The greater the tax receipts, the more money the government has to cover these expenses and pay for the future health of its citizens. In addition profitable businesses pay taxes on their profits to help support the infrastructure (roads, electricity, water, and so on) without which a business could not operate. Crowdfund investing will encourage more profit-seeking businesses that will generate more tax receipts for governments.
4. Economic Stimulus Is a Byproduct of Entrepreneurship and Innovation
Entrepreneurship and innovation are about creating and sustaining ideas — ideas that provide solutions to problems and are purchased by consumers domestically and globally. The cash that consumers pay to a business is used to purchase goods to make the product or service, to hire employees, and to pay for things like lawyers, marketing services, and rent. This flow of capital is a boost to an economy. The more a government can do to encourage entrepreneurship and innovation, the more capital will flow, and the better off its economy will be.
5. Local Investing Keeps Money in the Community and Country
The vast majority of capital local businesses spends stays in the local communities where other shops reside. That money is spent on chamber of commerce dues, tax attorney services, lawyers, general contractors, landlords, business services (phone, Internet, trash pickup), local advertising, and so on. Businesses also employ people who make a living from a business’s revenue and, in turn, support the local communities further via grocery stores, gas stations, restaurants, and other everyday expenses. Many state and federal governments understand this multiplier and try to make their regions as attractive as possible for entrepreneurs to start businesses.
6. Crowdfund Investing Leads to a Larger Middle Class and Greater Stability
Having a “barbell” economy with a large underclass, a large wealthy class, and very little in the middle is unhealthy. A barbell economy doesn’t offer people in the underclass models for how to improve their circumstances or create better lives for their families. Also large unemployed population is a dangerous situation for political stability. When you have over 15 percent unemployment in a country, and when that unemployment is particularly pronounced in citizens under 30 (who are educated and frustrated because they are unable to work), you have a recipe for unrest. Crowdfund investing provides communities with a way to build businesses that add value and create jobs. Countries must create ways to grow the size of their middle class.
7. The Number-One Source of Net New Jobs Is Small Businesses
Many economic studies show that the number-one source of net new jobs is small businesses. To create new jobs in your country, you need to help small businesses to start and grow. With the legalization of equity-based crowdfund investing, small businesses have a new spigot of capital that they can use to grow their businesses and create jobs. People working in small businesses are already oftentimes wearing multiple hats (sales manager, sales person, marketing manager, social media marketer, advertising manager, and so on). When small businesses grow, they have no choice but to hire more people.
8. The Web Can Get Capital Flowing
Before the Internet, banks or other third parties were the only way for individuals to pool their resources and then provide them (via the banks and their lending guidelines) to other individuals to build businesses. Now, individuals can use the web to connect people who have capital to people and businesses that need capital. Other than face-to-face communication, there is no more transparent communication channel than the Internet. The web supports many-to-many communication that enables people to communicate their needs and allows other people to evaluate those needs and determine whether to provide the requested resources.
9. People Want to Support Their Country
Don’t underestimate the power of national pride. People want to support the country and culture they know. People want to invest in people, products, and services they know. In a lot of countries it’s hard for people to invest in businesses that their fellow countrymen are starting and growing. Rather they have to send capital to other countries where it is easier to find a return on their investment. National pride is one reason, but savvy and successful businessmen and women also understand that the better off their country’s economy is, the better off their own businesses will be. This is one reasons we believe crowdfund investing will increase the flow of diaspora money. Today, literally billions of diaspora remittances are already flowing back. With crowdfund investing, countries create the opportunity for additional capital flows to not only support basic needs but also to make real investments in high value and potentially high-growth businesses in the countries to which people feel deeply connected.
10. You Don’t Want to Be Left Behind!
Crowdfund investing is the dawn of Web 3.0, where the social web meets capital formation. It’s a true disruption of the private capital markets. For the first time, both existing Main Street businesses and startup businesses can seek capital via the same channel and can leverage the power of their communities. More and more countries are exploring this opportunity and working to legalize versions of crowdfund investing that are appropriate for their culture and capital markets. This is another step in making the world a smaller and more connected place. Don’t be left behind!
Sherwood Neiss is a Principal at Crowdfund Capital Advisors. CCA is a strategy and technology advisory firm that works with Governments and NGO on implementing a CFI infrastructure.
Investor, Thrillseeker and Entrepreneaur Peter Shankman Opens Crowdfunding Bootcamp
Peter Shankman will be the opening keynote speaker for the Crowdfunding Bootcamp October 9, 2012 at the Ravella in Las Vegas, NV.
Peter Shankman is an entrepreneur, author, speaker, worldwide connector and small business evangelist. Peter is best known for founding Help A Reporter Out, (HARO) which in under a year became the de-facto standard for journalists looking for sources on deadline, offering them sources around the world looking to be quoted in the media. HARO is currently the largest free source repository in the world.
He is also recognized worldwide for initiating new ways of thinking about social media, PR, marketing, advertising, creativity and customer service. To launch an effective Crowdfunding campaign, you must start with a clear message that can be used to attract potential investors. Who better to teach this vital principal than Peter Shankman, the master of “Networking through Social Media.”
Read more here.
You Need the Crowdfunding Bootcamp
Immerse yourself in the best practices of the new regulations for Crowdfund Equity Investing. Be a part of the Crowdfunding Bootcamp(TM)and first annual CFPA Convention to The event takes place on October 9 through October 11, 2012 in Henderson, NV.
This is an innovative conference and bootcamp that bridges the best of a conference with practical hands-on access to lawyers, accountants, social media and PR experts and other resource professionals essential to being able to raise capital using equity based crowdfunding.
Start understanding the intricacies of the compliance requirements as stipulated in the JOBS Act for Crowdfunding while connecting with the world’s most sought-after community of Crowdfund Investing thought leaders, and developers of new and emerging funding portals, and other service providers.
Six Major Crowdfunding Platforms Join Forces with CfPA
Washington, DC — 07/19/2012 — Six crowdfunding platforms and affiliated companies, representing half the board of the National Crowdfunding Association (NLCFA) have left to join forces withCrowdfunding Professional Association(CfPA).
Maurice Lopes, of Early Shares, joined NLCFA’s board early in its inception “I didn’t know there was another organization, until later, particularly one founded by Sherwood Neiss and Jason Best, the chief advocates and crowdfund investing framework authors who I worked with during the fight to legalize crowdfunding.”
Lopes was joined by RennéCaputi (Early Shares), Luan Cox (Crowdnetic) and Sang Lee (Return on Exchange). They all play an active role in the crowdfunding industry and work closely with CfPA’s sister organization the Crowdfund Intermediary Regulatory Advocates (CFIRA).
“Both myself and Renné decided that our efforts would be better on the board of the CfPA” said Lopes. “In recent weeks, we tried very hard to unify both associations and establish a single voice, but it was clear that wasn’t going to happen without NLCFA’s Founder David Marlett changing roles. This seemed an impossible task, so we decided to resign.”
Neiss, co-chair of CfPA said, “Having worked with these crowdfunding advocates across association lines, we were thrilled when they mentioned the thought of merging the two organizations. While they couldn’t make that happen, having them on board allows us to speak with a more powerful collective voice. We are happy they see value in being part of the organization that has the support of Washington, DC.”
“Our priorities are education, advocacy and awareness” says Neiss. “In my opinion, the CfPA and CFRIA are more engaged in the process and investor and policy maker collaboration and education. That is the kind or organization I want to be a part of.”
About Crowdfunding Professional(CfPA)
The Crowdfunding Professional Association is dedicated to facilitating a vibrant, credible and growing crowdfunding community while also advocating for an industry view versus a single company perspective. Uniting a broad-based coalition of industry participants, the association is committed to ensuring the credible development of the industry, including a commitment to the highest ethical standards. The association’s collaborations and insights are shared broadly to avoid onerous, stifling bureaucracy that can endanger innovation, idea generation and job creation. For more information visit www.crowdfundingprofessional.org
Media relations contact: Joy Schoffler, 512-271-9489 ext. 7
Take Survey: How Much Do You Know About Crowdfunding Investing?
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The purpose behind the survey is to find out what businesses and individuals really know or understand about crowdfunding, what they find most exciting about crowdfunding, and how they plan to take advantage of crowdfunding once the SEC implements the rules for such investments. The CfPA plans to award an Apple(R) iPad 3 to one of the first 500 individuals who respond to the survey. The winner will be randomly selected.
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Crowdfunding Pioneers Launch Professional Association in Concert with Regulatory Advocacy Group
Sister organizations dedicated to representing rapidly developing Crowdfunding industry and supporting SEC, FINRA during rule making period post JOBS act
New York City, May 7, 2012 – A group of top debt and equity crowdfunding platform and industry experts today announced the creation of the Crowdfunding Professional Association (CfPA), which will operate as a complementary sister entity to the Crowdfund Intermediary Regulatory Advocates (CFIRA) organization. Both non-profit organizations have been formed as a result of the Jumpstart Our Business Startups (JOBS) Act, which was signed into law on April 5th. By creating a legal framework for “crowdfund investing,” this historic act unleashes the potential for a much larger and expanded global crowdfunding community. The goal of the Crowdfunding Professional Association is to facilitate a vibrant, credible and growing global crowdfunding community while advocating for an industry view versus personal interests or a single company perspective. The complementary CFIRA organization is focused exclusively on channeling industry expertise to support the Securities & Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and other affected governmental and quasi-governmental entities, including state regulators, in the establishment of industry regulation, standards and best practices.
“Having worked over the past two years in developing the framework and foundational elements of the acts that passed both houses of Congress and ultimately the JOBS act signed by our president, I am thrilled to join with a broad coalition of crowd pioneers in the creation of a truly crowd-sourced professional association,” said Sherwood Neiss, co-author of the CrowdFund Investing Framework in the JOBS Act, co-founder of Startup Exemption and a founding member of the leadership group behind both non-profit crowdfunding sister entities. “In addition to its formation, we are announcing the appointment of the association’s first executive committee chair, and a governance structure and founding team. As challenging as it was to enact this law, we as industry participants recognize that the difficulties in developing the industry have only begun and that we must collaborate to ensure that crowdfunding is both preserved and developed to achieve its maximum potential in terms of credibility, transparency and best practices.”
Berkeley Geddes, CEO of Grow America Insight and DooBizz.com, has been elected chair of the Crowdfunding Professional Association Executive Committee and Governance Board. The Crowdfunding Professional Association’s Executive Committee will work closely with Mr. Geddes to build a lasting network and organization that will provide advocacy, foster integrity and champion the burgeoning global crowdfunding industry and vast ecosystem. For more information on the governance structure visit http://crowdfundingprofessional.org/leadership/
“America needs to get this right,” said Mr. Geddes. “As a nation, we need to lead and restore our seed funding markets in support of good people with good ideas, chasing their dreams. As members of the crowd, we can build a powerful and credible crowdfunding coalition that fuels the creation of new ideas, new businesses and jobs. We look forward to supporting the evolution of this community and harnessing the experts, entrepreneurs, pioneering platforms and visionary investors across the globe.”
The Crowdfunding Professional Association’s core principles are designed to achieve the following objectives:
“We welcome the creation of this industry body, which we view as strategic to not only fostering new forms of crowdfunding investments, but also to preserving the unique innovations and progress achieved by the early adopters and founders of the industry,” said Brian Meece, co-founder and CEO RocketHub. “Having an organization that represents the industry is essential and we look forward to supporting the efforts of the Crowdfunding Professional Association and the development of this vital industry.”
For a complete overview of membership, leadership and sponsorship opportunities visit http://crowdfundingprofessional.org/join/. Basic membership is free for the first year.
“Crowdfunding’s promise for igniting new, early-stage ventures is revolutionary,” said Alan E. Hall, a founding sponsor of the Crowdfunding Professional Association and founder of Grow America SpringBoard and Mercato Partners. “We look forward to supporting this groundbreaking development through the Crowdfunding Professional Association. It is our desire to help drive and mold this new capital creation model from its very foundation to ensure that it develops efficiently and safely. Managed properly, crowdfunding can fuel the involvement of hundreds of thousands of additional entrepreneurs, and allow many more investors to participate in the creation of companies and jobs that our economy so desperately needs.”
“We look forward to coordinating our efforts with the Crowdfunding Professional Association and are committed to complementing their mission with our laser focus on ensuring that a crowdfunding investment framework thrives in the U.S. so entrepreneurs can innovate and create new jobs,” said Candace Klein, co-chair of CFIRA and founder and CEO of Bad Girl Ventures and SoMoLend. “During this critical 270-day rule-making period and beyond, we will serve as a voice of the industry with the appropriate regulators and provide continuing regulatory education to the industry. CFIRA and CfPA will closely collaborate to make this happen.”
“Fostering the adoption of best practices for the operation of crowdfunding platforms globally is essential to the success of our industry,” said Carl Esposti, founder of Crowdsourcing.org and leader of the CAPS Accreditation Program for crowdfunding platforms and a founding Crowdfunding Professional Association executive committee member. “The Crowdfunding Professional Association is a critical piece of the puzzle and central to establishing accessible Crowdfunding Accreditation for Platform Standards, which is why I’ve worked to support the creation of this association and am pleased to serve on the executive committee.”
“Over the past year, we have hosted crowdfunding summits around the world to raise awareness, share best practices and to foster a coalition of crowdfunding industry participants,” said David Drake, Co-Founder of The SoHo Loft Capital Creation Events and a founding member of the leadership group behind both non-profit crowdfunding sister entities. “We are delighted to be a part of the formation and launch of the Crowdfunding Professional Association and view its function as central to the success of our industry.”
“As a founding supporter of the Crowdfunding Professional Association, our law firm is committed to not only establishing a thriving industry association, but also 100 percent behind this innovative new capital creation model,” said Daniel DeWolf, Co-Chair of the Venture Capital and Emerging Companies practice group of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. “We look forward to helping build a strong foundation for the industry and its varied ecosystem of participants.”
“The potential applications of crowdfunding are just beginning to break the surface,” said Steve Cinelli, Chief Executive Officer of PRIMARQ and a founding Crowdfunding Professional Association executive committee member. “Real Estate equity share finance empowered by crowdfunding platforms is emblematic of the diversity of this industry. Whether crowdfund investing in companies, participating in real estate price movement or other alternative asset classes, the Crowdfunding Professional Association will play an important role in addressing capital formation in key segments of economies both at home and abroad.”
About Crowdfunding Professional Association
The Crowdfunding Professional Association is dedicated to facilitating a vibrant, credible and growing crowdfunding community while also advocating for an industry view versus a single company perspective. Uniting a broad-based coalition of industry participants, the association is committed to ensuring the credible development of the industry, including a commitment to the highest ethical standards. The association’s collaborations and insights are shared broadly to avoid onerous, stifling bureaucracy that can endanger innovation, idea generation and job creation. For more information visit www.crowdfundingprofessional.org.
About CFIRA
Crowdfund Intermediary Regulatory Advocates, or CFIRA, was established following the signing of the Jumpstart Our Business Startups (JOBS) Act. CFIRA is an organization formed by the crowdfunding industry’s leading platforms and experts. The group will work with the Securities & Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and other affected governmental and quasi-governmental entities to help establish industry standards and best practices. For more information, visit www.CFIRA.org.
New Research Shows Optimism For Crowdfund Investing Continues To Rise
This means a business could raise up to $1 million per 12-month period from both accredited and nonaccredited investors over the Internet or through family, friends and business contacts. It will allow average investors to access the same kind of high-growth investments once available for only the wealthy. For entrepreneurs, it provides a highly valuable feedback mechanism on prospective offerings while allowing them to access capital much more readily than traditional vehicles including SBA loans, VCs and Angel investors.
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What the Heck is Crowdfunding?
Crowdfunding: the process of raising money to help turn promising ideas into business realities by connecting investees with potential supporters. Often using the Internet to reach possible investors, the process involves offering goods, such as a key chain or t-shirt, in exchange for a contribution to help a business get started. This process gives entrepreneurs a chance to test the marketability of their venture. They can set a deadline for reaching a fundraising goal. Some make, even exceed, their goals, others don’t. They can gauge the potential for a successful start-up of the business based on the public’s response to the request for support.
But crowdfunding is about to go to a whole new level.
“The current model is effective for the right projects,“ says Mark Hagar, a primary partner of First Break Funding LLC. “But the landscape is changing.”
Hagar says that as a result of the April 2012 JOBS Act, entrepreneurs can soon crowdfund their businesses using equities rather than goods in exchange for money.
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