Hello everyone, I’m Michael Raneri, founder and CEO of Venovate – a new kind of investment firm that will change the way capital is raised forever. I’d like to tell you more about us.
In April of 2012, the Jumpstart Our Business Startups – or JOBS Act – was signed into law. It has taken most of the time since then for the SEC to create regulations to implement it. Now that we have at least some of those regulations, the JOBS Act is ready to give individual investors and institutions a much broader pool of investment opportunities, and give people with great business ideas easier access to capital. Venovate’s mission is to make this exciting opportunity a reality by connecting startup companies with new sources of capital.
The JOBS Act has a number of provisions, but it is Title II, which lifted an 80-year ban on general solicitation for certain private securities offerings, that presents the immediate opportunity. Previously, any public solicitation to invest in a private company would need to be registered with the SEC. In this case, “public” meant people not known to you prior to asking them for money. In a sweeping effort to stimulate the startup economy, the JOBS Act makes the public solicitation of private investment by entrepreneurs much easier.
The key is that under Title II, these solicitations may be made only to “accredited investors.” These are either institutions or individuals who have a net worth greater than $1,000,000 not counting the value of their homes, or earn over $200,000 ($300,000 as a couple). Still, the removal of restrictions on public solicitation alone is enough to accelerate private funding efforts and allow startups access to funding resources they never could have touched.
At Venovate, we have seized this opportunity and we are building the world’s largest alternative investment platform for accredited individuals and institutional investors. A marriage of venture and innovation, Venovate is creating an online market that gives these investors access to exciting new investment opportunities.
Venovate Marketplace is transforming private equity by allowing business to focus on growth instead of fundraising. Investment opportunity profiles, business plans, and expanded visibility into a firm’s financial performance will be available to our large community of investors.
Venovate operates a FINRA licensed broker-dealer, and an SEC registered Alternative Trading System, or ATS. We are very excited to have Provident Trust Group as a strategic partner. From day one, Venovate Marketplace will have access to Provident’s deep pool of over 40,000 investors with more than $5 billion of assets in custody. A great jump start to our Marketplace.
Early in my career I ran one of the first online stock brokerage services for Quick and Reilly. I then was one of the leaders of Charles Schwab’s online trading offering. Most recently I was CEO of Zecco – a major online brokerage firm. The JOBS Act is providing the same kind of revolution in investing that was created by the deregulation of brokerage commissions in the 1970s, and the invention of online stock trading.
Venovate is going to lead this new revolution and I’d like to invite you to sign up for our Beta. Be a part of the private investment marketplace for accredited investors!