An innovative blockchain project, The Elephant, is announcing the beginning of its Private Sale for their PEC security token. This platform connects the growing secondary market with the emerging blockchain technology and gives investors access to equity opportunities that were once reserved for a select few. In doing so, The Elephant is presenting a more stable crypto investment opportunity for crypto holders that are looking to re-connect to “real” assets and for “conservative” investors looking to enter the crypto world.
The Elephant private sale offers an investor the opportunity to join an already fully operational project. Currently, shares of more than 20 unicorns or high-profile pre-IPO companies, representing over $70 million, are listed for sale on the platform and more than 2,000 investors are registered.
The Platform (previously known as Privatequity.biz), offers investment opportunities in shares of leading private companies like Circle, Palantir Technologies, IronSource, Outbrain, Gett andBla Bla Carthat were listed by their shareholders (mainly senior and former employees) on the platform.
The Elephant Platform establishes a secondary trading market that benefits all parties involved. Most importantly, investors receive access to otherwise inaccessible shares of target companies, with low entrance thresholds making it possible for many people to participate. At the same time, shareholders of private companies can access independent liquidity before the company’s exit or IPO.
Why The Elephant Platform, and Why Now?
The private secondary market has experienced rapid growth in recent years, due to a very high IRR and the lengthening of the transition from venture-backed company to IPO – from 3-5 years in 2000 to 10-12 years in 2016. The volume of secondaries transactions increased by 800% over the last 13 years from $7B in 2004 to $58B in 2017 (source: Greenhill Cognet).
According to Chaim Schiff, Co-CEO of The Elephant, “While the secondary market does provide a limited solution for the liquidity needs of the original shareholder, the buyers of these shares step into the shoes of the selling shareholder and now are the ones suffering from limited liquidity going forward. The Elephant Platform aims to provide the “next generation” solution for the liquidity challenge for buyers, by combining the growing pre-IPO secondary market with the blockchain technology and related digital currencies.”
The company is holding a private sale to issue its security token. The PEC token is available to accredited investors only. The funds raised through the private sale will allow the team to expand the already operational platform into a global leading tokenized secondary market platform and to incorporate blockchain-related upgrades to their network.