Top Investment Crowdfunding Portals

There are several different types of Investment Crowdfunding platforms/portals/websites. In general they offer investors an opportunity to purchase early equity shares or convertible debt in tech startups and new consumer product companies. There are also many platforms specialized in Real Estate Crowdfunding and Peer-to-Peer lending. Some platforms are only open to accredited investors, some are open to all investors depending on which SEC investment rules they operate under. Some are open now and some are waiting for the new SEC “Title III” investment crowdfunding rules to go into effect May 16th 2016.

This is a categorized list assembled by CrowdExpert.com of the top crowdfunding platforms. The platforms are ranked within the categories by size and importance based a combination of factors including how much money they have raised as companies, how much funding issuers have raised via their platforms, and their overall popularity, site traffic, media mentions, and visibility in the industry.

Click on a platform or category name to scroll down to its full profile. 

Accredited Investor Only Equity Crowdfunding Platforms

Accredited Investor Only Equity Crowdfunding Platforms are primary markets that rely mostly on Regulation D. Rule 506(b) and 506(c) offerings as enabled by Title II of the JOBS Act. Most platforms host both (b) and (c) offering types, the difference being that with 506(b) investors have to self-certify as an accredited investor before you can see the offerings, with with 506(c) anyone can see them, but investors have to provide financial documents to prove accreditation status when investing. Issuers offer equity, debt, and debt-to-equity convertible note securities.

Crowdfunder
URL: crowdfunder.com Logo:
Platform Type: Accredited Only Equity Crowdfunding
Founded: 2011 Headquarters: Los Angeles, CA
Type of Investment: Tech, Film & Entertainment, Social Enterprise, Small Business. Seed, Series A, Series B. Legal Structure of Offering: Regulation D, Rule 506(b) & 506(c) Area Served: United States Investors Eligible: US Accredited Only
Funding raised directly by company: $5.9 Million
Funds raised by issuers on platform: $100 Million+
Popularity: High (Compete.com traffic estimate 30-110k per month, Klaut Score 60, 85 SocialMention.com mentions, 11k Google News results though skewed as CrowdFunder can be used as a generic term)
Business Model: Issuer pays listing fee of $299 for less than $500k, $999 for more than $500k, 7.9% of successful raise, 1.9% – 5% Transaction fee.
Notes: No money is exchanged on platform; deals close offline
Sources: 1 2 3 4 5                                                                                            Last Updated 11/1/2015

CircleUp
URL: circleup.com Logo:
Platform Type: Accredited Only Equity Crowdfunding
Founded: 2011 Headquarters: San Francisco, CA
Type of Investment: Equity Crowdfunding of new Consumer products and Brands, particularly food, personal care, pet product, apparel or retail/restaurant companies. Legal Structure of Offering: Regulation D, Rule 506(b) and 506(c) Area Served: United States Investors Eligible: US Accredited Only
Funding raised directly by company: $23 million
Funds raised by issuers on platform: $100 million+
Popularity: High (Compete.com traffic estimate 40-110k per month, 1,180 Google News Results)
Business Model: Broker Dealer, charges success fees.
Notes: Partnered with 301 Inc, General  Mills’ business development and venture unit that invests in emerging consumer food brands.
Sources: 1 2 3 4                                                                                              Last Updated 11/1/2015

EquityNet
URL: equitynet.com Logo:
Platform Type: Accredited Only Equity Crowdfunding
Founded: 2005 Headquarters: Fayetteville, AR
Type of Investment: Industry-agnostic Legal Structure of Offering: Regulation D, Rule 506(b) and 506(c) Area Served: United States Investors Eligible: US Accredited Only
Funding raised directly by company: $2.1 million
Funds raised by issuers on platform: $330 million
Popularity: Medium (Compete.com traffic estimate 20-80k per month, 257 Google News Results)
Business Model: Service Fees, services and guidance offered to issuers
Notes: More of a listing service. Huge database of startups, approx 20,000.
Sources: 1 2 3 4 5                                                                                  Last Updated 03/09/2016

Fundable
URL: https://www.fundable.com/ Logo:
Platform Type: Accredited Only Equity Crowdfunding
Founded: 2012 Headquarters: Powell, OH
Type of Investment: Technology & Consumer Products Legal Structure of Offering: Regulation D, Rule  506(c) Area Served: United States Investors Eligible: US Accredited Only for investment crowdfunding offerings
Funding raised directly by company: ?
Funds raised by issuers on platform: $208 million committed (Includes reward crowdfunding. Investment Crowdfunding issuers still testing-the-waters, investment not actually raised yet)
Popularity: Medium (Compete.com traffic estimate 40-140k per month, 198 Google News Mentions)
Business Model: 3.5% of the final funds raised + monthly fee
Notes: Allows both rewards and equity fundraising. Part of Startups.co.
Sources: 1 2                                                                                               Last Updated 11/1/2015

FundersClub
URL: https://fundersclub.com/ Logo:
Platform Type: Accredited Only Equity Crowdfunding
Founded: 2012 Headquarters: San Francisco, CA
Type of Investment: Equity, SPV Legal Structure of Offering: Regulation D, Rule  506(b) Area Served: United States Investors Eligible: US Accredited Only
Funding raised directly by company: $6.5 million
Funds raised by issuers on platform: $42 million
Popularity: High (Compete.com traffic estimate 40-60k per month, Klout score 49, 675 Google News results)
Business Model: Carried Interest of 20%-30% or less of the profits of the SPV
Notes: Invite only. Structured as a Venture Captial fund, but online, and with lower investment minimums and fees than most VCs. Acts as a single institutional investor. Not an open investment platform. Investors can buy into funds of multiple companies set up within the platform, but can not pick and choose individual companies to invest in. Invests in a lot of YCombinator startups.
Sources: 1 2 3 4 5 6 7 8 9  10  11                                                                            Last Updated 11/1/2015

OneVest
URL: https://onevest.com/ Logo:
Platform Type: Accredited Only Equity Crowdfunding
Founded: 2011 Headquarters: New York City, NY
Type of Investment: Industry-agnostic Legal Structure of Offering: Regulation D, Rule 506(c), Regulation A+ Area Served: United States Investors Eligible: US Accredited Only
Funding raised directly by company: $5.3 million
Funds raised by issuers on platform: $15 million in 2014
Popularity: Emerging (430 Google News Results)
Business Model: Broker-dealer model, 5% success fee (pre-existing relationships excluded)
Notes: Acquired and integrated CoFoundersLab, 1000 Angles, and RockThePost platforms
Sources: 1 2 3 4 5 6                                                                                          Last Updated 11/1/2015

WeFunder
URL: https://wefunder.com/ Logo:
Platform Type: Accredited Only Equity Crowdfunding
Founded: 2011 Headquarters: San Francisco, CA
Type of Investment: Equity Crowdfunding of technology and consumer product startups. Legal Structure of Offering: Reg D 506 (b) & (c). Special purpose LLC is created which owns a share of the company, investors in turn own a share of the LLC. Most offerings are for a convertible note. Area Served: United States Investors Eligible: US Accredited Only
Funding raised directly by company: $530,000
Funds raised by issuers on platform: $13 million
Popularity: Emerging
Business Model: WeFunder takes 10% of the return on investment (profit) from a successful exit, plus $1,000-$3,000 in administrative fees. Investors also pay a small administration fee on top of their investment to cover some of the costs of operating the fund over its life.
Notes: Due to the LLC structure, each company limited to 99 WdFunder investors. Wefunder has said that they intent to use the new TitleIII rules to make investments available to unaccredited investors when the rules come into effect May 2016.
Sources:  1 2 3 4 5                                                                                              Last Updated 11/1/2015

Microventures
URL: https://microventures.com/ Logo:
Platform Type: Accredited Only Equity Crowdfunding
Founded: 2009 Headquarters: Austin TX
Type of Investment: Legal Structure of Offering: Area Served: United States Investors Eligible: US Accredited Only
Funding raised directly by company:
Funds raised by issuers on platform:
Popularity: Emerging
Business Model:
Notes:
Sources:                                                                                                          Last Updated 11/1/2015

OfferBoard
URL: http://www.offerboard.com/ Logo:
Platform Type: Accredited Only Equity Crowdfunding
Founded: 2013 Headquarters: Princeton, NJ
Type of Investment: Legal Structure of Offering: 506(b) & 506(c) Area Served: United States Investors Eligible: US Accredited Only
Funding raised directly by company: $1.25 million
Funds raised by issuers on platform:
Popularity: Emerging
Business Model:
Notes: Has expressed interest in hosting investments for unaccredited investors pending on implementation of new JOBS Act rules by the SEC.
Sources:   1                                                                                                Last Updated 11/1/2015

Startup Valley
URL: http://www.startupvalley.com/ Logo:
Platform Type: Accredited Only Equity Crowdfunding
Founded: 2012 Headquarters: Saddle Brook, NJ
Type of Investment: Legal Structure of Offering: Area Served: United States Investors Eligible: US Accredited Only
Funding raised directly by company:
Funds raised by issuers on platform:
Popularity: Emerging
Business Model: Broker Dealer: Partnered with a Broker-Dealer
Notes: Currently in Beta. Has expressed interest in hosting investments for unaccredited investors pending on implementation of new JOBS Act rules by the SEC.
Sources:                                                                                              Last Updated 11/1/2015

All Investor Equity Crowdfunding and Mini-IPO Platforms

These platforms are currently using the new Title IV Regulation A+ rules that allow companies to go through a “Mini-I.P.O.” process to raise up to $50million per year from accredited and unaccredited investors. The registration process for Reg A+ offerings is 6-8 months, and the rules went into effect June 2015, so we’re only now starting to see a few of these offerings come online on the platforms above. According to the SEC, as of February 2016, 68 companies have filed with the SEC and 19 have completed the process, and three issuers have completed a sale of securities so far under Regulation A+ as enabled Title IV of the JOBS Act, .

The platforms can also host “testing-the-waters” campaigns, in which companies can collect non-binding investor interest commitments. Many offerings you see listed on Reg A+ platforms are not yet raising capital.

Non-accredited individual investors can invest a maximum of the greater of 10% of their net worth or 10% of their net income in a Reg A+ offering that is raising over $20mil. Investors can self-certify their income and net-worth.

Now that the final rules for Title III Equity Crowdfunding have been announced we’ll probably see more platforms state their intention to open up to unaccredited investors using the new crowdfunding rules when they go live May 16th 2016.

StartEngine
URL: https://www.startengine.com/ Logo:
Platform Type: All Investor Equity Crowdfunding
Founded: 2011 Headquarters: Los Angeles, CA
Type of Investment: Common Stock Equity. “Mini-IPO” Investment Crowdfunding, focus on gaming, mobile, music, and transportation. Legal Structure of Offering: Regulation A+ Area Served: United States and Canada. Investors Eligible: All North American investors, subject to Regulation A+ investment limits.
Funding raised directly by company: $5.5M+
Funds raised by issuers on platform: $70 million
Popularity: Medium. A leading platform in the small space of Reg A+ offerings. Compete.com traffic estimate of 70-150k per month.
Business Model: Administration fee of $100 per investor for facilitating the transaction is paid by the issuer, plus escrow fees.
Notes: Some offerings are listed on OTCQX market after initial fundraise, offering early liquidity to investors. StartEngine has announced intention to use the new equity crowdfunding TitleIII rules when they come into effect mid 2016.
Sources: 1 2 3                        +CrowdExpert.com Interview with StartEngine CEO Ron Miller.       Last Updated 03/04/2016

SeedInvest
URL: https://www.seedinvest.com/ Logo:
Platform Type: All Investor Equity Crowdfunding
Founded: 2011 Headquarters: New York, United States
Type of Investment: Equity Crowdfunding and Mini-IPO, focus on: technology and consumer facing businesses. Startups raising between $100,000 – $5,000,000 (including offline). Companies looking to raise Seed Rounds, Series A Rounds, and Bridge Rounds. Companies which already have funding terms and have attracted a lead investor Legal Structure of Offering: Reg D. Rule 506(b) and 506(c) & Regulation A+ Area Served: United States Investors Eligible:
Funding raised directly by company: $5.3 million
Funds raised by issuers on platform: $100 million
Popularity: Emerging. A leading platform in the small space of Reg A+ offerings.
Business Model: Issuer pays upfront fee of $3,000 – $5,000 in due diligence, escrow, marketing and legal expense, reimbursed on raise. 7.5% of successful round
Notes: Most offerings so far are 506(b) and 506(c). So far one Regulation A+ offering has started raising money.
Sources: 1  2 3                                                                                                  Last Updated 11/1/2015

Banq.co
URL: https://www.banq.co/ Logo:
Platform Type: All Investor Equity Crowdfunding
Founded: 2015 Headquarters: New York, NY
Type of Investment: Mini-IPO, Private Placement Legal Structure of Offering: Full S-1 IPO, SDO (Sponsored Direct Offering), 506(c) & Reg A+ Area Served: United States Investors Eligible: All US Investors
Funding raised directly by company: Probably self-funded as they are an Investment Bank.
Funds raised by issuers on platform: $2.8 Million
Popularity: Emerging
Business Model: Broker Dealer
Notes: Banq offers a more general trading platform, but also offers Equity Crowdfunding private offerings within that. A division of Tripoint Global Equities Investment Bank. Total raised so far is by a single issuer, ieCrowd, which does healthcare technologies licensing. Bnaq allows issuers to conduct offerings and raise capital under Regulation A+ and allows investors to have the ability to deposit and liquidate their Reg A+ investment shares that trade on the OTCQX and OTCQB markets.
Sources:  1  2  3                             + Direct Communication with Banq.co                Last Updated 03/08/2016

Real Estate Crowdfunding Platforms

Real Estate Platforms use Regulation D as well as Regulation A to structure their offerings. Some are starting to host offerings open to un-accredited investors.

Fundrise
URL: http://fundrise.com/ Logo:
Platform Type: Real Estate Crowdfunding
Founded: 2010 Headquarters: Washington DC
Type of Investment: Commercial Real Estate Portfolio “e”REIT (Real Estate Investment Trust) Legal Structure of Offering: Rule 506(b)&(c), Regulation A+ Area Served: United States Investors Eligible: Accredited and Unaccredited investors
Funding raised directly by company: $41 million
Funds raised by issuers on platform: $150 million in 2015
Popularity: Medium (Compete.com traffic estimate of 40-90k per month)
Business Model: 1% asset management per annum
Notes: Majority of offerings available only to accredited investors. eREIT investment open to unaccredited investors. Currently a waitlist for eREIT investment.
Sources: 1 2 3 4 5 6 7 8                                                                                         Last Updated 11/1/2015

Realty Mogul
URL: https://www.realtymogul.com/ Logo:
Platform Type: Real Estate Crowdfunding
Founded: 2013 Headquarters: Los Angeles, CA
Type of Investment: Crowdfunded mortgage-backed debt financing of real estate, equity investments Legal Structure of Offering: Rule 506(b) & (c) Area Served: United States Investors Eligible: US Accredited Investors
Funding raised directly by company: $45 million
Funds raised by issuers on platform: $150 million
Popularity: Medium (Compete.com traffic estimate of 25-60k per month)
Business Model: % based Service Fees on Acquisition, Asset Management, Construction Management, Property Refinance, Technology Fee, Interest Rate Spread, etc.
Notes:
Sources:  1  2  3  5  6                                                                     +Funding Announcement Via Email    Last Updated 01/29/2016

Patch of Land
URL: https://patchofland.com/ Logo:
Platform Type: Real Estate Crowdfunding
Founded: 2013 Headquarters: Los Angeles, CA
Type of Investment: Crowdfunded mortgage-backed debt financing of real estate Legal Structure of Offering: Rule 506(c) Area Served: United States Investors Eligible: US Accredited Investors
Funding raised directly by company:
Funds raised by issuers on platform:
Popularity: Emerging
Business Model: Investors are charged a  management fee of between 0-2% on interest distributions in order to cover costs associated with administration, servicing, and compliance. Additionally, if a loan defaults, PatchofLand and certain third-party vendors do take certain fees on late charges, default rates, extensions, workouts, and other additional monies collected in the workout process.
Notes:
Sources:  1 2 3 4                                                                                                         Last Updated 01/29/2016

RealtyShares
URL: https://www.realtyshares.com/ Logo:
Platform Type: Real Estate Crowdfunding
Founded: 2013 Headquarters: San Francisco, CA
Type of Investment: Crowdfunded equity and mortgage-backed debt financing of real estate. Commercial, multi-family and single family residential. Legal Structure of Offering: Rule 506(b) Area Served: United States Investors Eligible: US Accredited Investors
Funding raised directly by company: $31M
Funds raised by issuers on platform: $100M+
Popularity: Emerging
Business Model: Model includes a cost reimbursement fee from the developer and an asset management or servicing fee from the investor. Investor fees are maximum 2% of the invested amount
Notes:
Sources: 1  2  3  4                                                                                                        Last Updated 11/1/2015

iFunding
URL: https://www.ifunding.co/ Logo:
Platform Type: Real Estate Crowdfunding
Founded: 2012 Headquarters: New York, NY
Type of Investment: Legal Structure of Offering: 506(c) Area Served: United States Investors Eligible: US Accredited Investors
Funding raised directly by company: $4 million
Funds raised by issuers on platform: $31 million
Popularity: Emerging
Business Model:
Notes:
Sources: 1 2 3                                                                                                         Last Updated 11/1/2015

EarlyShares
URL: https://www.earlyshares.com/ Logo:
Platform Type: Real Estate Crowdfunding
Founded: Headquarters:
Type of Investment: Legal Structure of Offering: Area Served: United States Investors Eligible:
Funding raised directly by company:
Funds raised by issuers on platform:
Popularity: Emerging
Business Model:
Notes:
Sources:                                                                                                          Last Updated 11/1/2015

Groundfloor
URL: https//www.groundfloor.us Logo:
Platform Type: Real Estate Crowdfunding
Founded: Headquarters:
Type of Investment: Legal Structure of Offering: Regulation A+ Area Served: United States Investors Eligible:
Funding raised directly by company:
Funds raised by issuers on platform:
Popularity:
Business Model:
Notes: Hosted the very first offering using the new Regulation A+ rules.
Sources:                                                                                                          Last Updated 11/1/2015

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RealCrowd
URL: https://www.realcrowd.com/ Logo:
Platform Type: Real Estate Crowdfunding
Founded: 2013 Headquarters: Palo Alto, CA
Type of Investment: commercial and multifamily real estate. Legal Structure of Offering: 506(c) Area Served: United States Investors Eligible: US Accredited Investors
Funding raised directly by company: $1.6M
Funds raised by issuers on platform:
Popularity:
Business Model: RealCrowd is free for investors. RealCrowd charges a technology access fee to the operating partner. They do not charge investors any upfront fees, ongoing asset management fees or promote/carried interest in the investments.
Notes: Offerings viewable without an account.
Sources:     1   2  3  4                                                                   Last Updated 02/09/2015

Peer-to-Peer Lending Platforms

It’s debatable whether peer-to-peer lending can even be considered crowdfunding anymore, as the the platforms have been hugely successful, eclipsing the rest of the crowdfunding industry in size, and have brought in lots of money from financial institutions, rather than relying on the crowd to make small investments. Lending Club and Prosper both still allow for the creation individual investor accounts though. You can purchase a portfolio of different loan obligations depending on your risk/return preferences.

Lending Club
URL: lendingclub.com Logo:
Platform Type: Peer-to-Peer (P2P) Lending
Founded: 2006 Headquarters: San Francisco, CA
Type of Investment: Crowdfunded/Marketplace personal loans. Legal Structure of Offering: Area Served: United States Investors Eligible: US investors in 39 states (% of income restrictions apply)
Funding raised directly by company: $392.2M (plus $870M IPO)
Funds raised by borrowers on platform: $15B
Popularity: High.
Business Model: Investors pay a service fee of 1% of amount of repayment from borrowers.
Notes: While individuals can still invest via the Lending Club platform, the vast majority of funds come from institutional investors.
Sources:      1 2 3 4 5 6 7 8                                                                      Last Updated 02/10/2016

Prosper
URL: prosper.com Logo:
Platform Type: Peer-to-Peer (P2P) Lending
Founded: 2006 Headquarters: San Francisco, CA
Type of Investment: Crowdfunded personal loans, trading of loans Legal Structure of Offering: Regulation D Area Served: United States Investors Eligible:
Funding raised directly by company: $355M
Funds raised by borrowers on platform: $5.5B
Popularity: High
Business Model:
Notes:
Sources:      1 2 3 4 5 6                                                                                Last Updated 02/10/2016

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SoFi
URL: https://www.sofi.com/ Logo:
Platform Type: Peer-to-Peer (P2P) Lending
Founded: 2011 Headquarters: San Francisco, CA
Type of Investment: Personal loans to graduates of particular universities or employ. Legal Structure of Offering: Regulation D Area Served: United States Investors Eligible: Accredited Investors
Funding raised directly by company: $1.3B
Funds raised by borrowers on platform: $7B
Popularity: Medium (Compete.com traffic estimate 150-300k per mo)
Business Model:
Notes: Individual accredited investors can sign up here: https://www.sofi.com/b/registration Company mostly focuses on employers and universities as investors which can set up special programs to benefit their employees and alumni.
Sources: 1  2  3  4  5                                                                                   Last Updated 02/10/2016

Angel Networks, Secondary Markets, Venture Exchanges, Aggregators, etc.

Angel Networks also introduce investors to startups, but are much more hands-off in regards to the actual investment process, and usually require investors to certify as accredited.

Secondary Markets facilitate the sale of shares in larger startups from employees and early investors to accredited investors, usually larger ones such as Venture Capital and other funds.

AngelList
URL: angel.co Logo:
Platform Type: Angel Network
Founded: 2010 Headquarters: San Francisco, CA
Type of Investment: Startup equity Legal Structure of Offering: A special purpose LLC is set up which owns a share in the startup, investors buy shares in the LLC via Regulation D rule 506. Area Served: Global Investors Eligible: Accredited in the US, otherwise depends on region.
Funding raised directly by company: $24m
Funds raised by issuers on platform: Angel List reports $163M raised online by startups in 2015. Previously $300m+ through 2014.
Popularity: High
Business Model: Investors pay 0-25% deal carry to the syndicate lead, and 5% deal carry to AngelList. Investors also pay the out-of-pocket costs for each deal—currently $8K in the US and £8,300 in the UK. These costs are paid to third parties such as state regulatory agencies, payment processors and accountants—AngelList does not profit from these fees. The lead and AngelList do not receive carry until the syndicate investors’ investments and out-of-pocket costs are returned.
Notes: Acts more as a matchmaking service between startups and investors but is more hands-off on the actual transaction. Also facilitate formation of investment “syndicates” by established investors, in which a single or a few well known investors seek out deals and do lead due diligence and other more passive investors commit matching funds. Also acts as a job portal for startups.
Sources:     1 2 3 4 5 6 7 8     Last Updated 02/16/2016

Gust
URL: gust.com Logo:
Platform Type: Angel Network
Founded: 2004 Headquarters: New York, NY
Type of Investment: Startup Equity Legal Structure of Offering: varies Area Served: Global Investors Eligible: Investor Groups
Funding raised directly by company: Undisclosed
Funds raised by issuers on platform: $1.8Bn
Popularity: Medium (Compete.com traffic estimate 60-180k per mo, Klout score 53)
Business Model: Software (SaaS) license fees charged to investor groups. Fees depends on size of an angel network, assets under management, and other factors.
Notes: Formerly known as Angelsoft. Gust is a SaaS platform for managing fundraising process. Gust is currently set up primarily for groups of investors or organizations such as angel groups, venture funds, accelerators, incubator, or business plan competitions. The platform doesn’t directly handle funds. According to their website Gust for individual investors is coming soon.
Sources: 1  2                                 Last Updated 02/16/2016

SecondMarket
URL: secondmarket.com Logo:
Platform Type: Currently: Share Buybacks, Previously: Secondary Market.
Founded: 2004 Headquarters: New York, NY
Type of Investment: Facilitates primary and secondary transactions such as share buybacks on behalf of private companies and funds, post-closing and settlement for M&A transactions, onboarding of investors participating in primary capital raises. Legal Structure of Offering: Rule 144(A), Rules 506(b) and (c). Area Served: United States Investors Eligible: Institutional
Funding raised directly by company: $34M
Transaction volume on platform: $2.5Bn
Popularity: Medium
Business Model: Fee for service, Broker Dealer.
Notes: Acquired by NASDAQ in 2015, now functioning as a compliment to NASDAQ Private Market. Previously SecondMarket facilitated a pre-IPO securities marketplace. SecondMarket no longer provides accredited investor access to new investing opportunities. Currently NASDAQ Private Market facilitates the sale of equity from existing shareholders of private startups  to institutional investors.
Sources: 1 2 3 4                                Last Updated 02/16/2016

EquityZen
URL: equityzen.com Logo:
Platform Type: Secondary Market
Founded: 2013 Headquarters: New York, NY
Type of Investment: Startup Equity Shares in companies worth over $50M. Legal Structure of Offering: Rule 144. 506(b), §86 of FSMA 2000. Investors are Members of a fund (organized as an LLC) that purchases a specific company’s Shares or the economic interests in shares (via a Participation Agreement). EquityZen acts as the Managing Member of this fund. The assets owned by the fund (and its Members) are the Shares or the participation interests in the economic upside and downside of equity, which the fund has purchased from shareholders. EquityZen acquires the asset via a Share Transfer or a Participation Agreement with the shareholder. Area Served: United States Investors Eligible: Accredited US Investors
Funding raised directly by company: $3.5M
Funds raised by issuers on platform:
Popularity:
Business Model: Buyer charged a one-time Sales Fee of 5% via Broker-Dealer.
Notes: EquityZen provides liquidity to existing private company shareholders and does not facilitate direct fundraising for companies. Minimum investment size is $20,000. Platform features many familiar startups and tech companies.
Sources: 1 2 3 4                                Last Updated 02/16/2016

DreamFunded
URL: dreamfunded.com Logo:
Platform Type: Secondary Market
Founded: 2014 Headquarters: San Francisco, CA
Type of Investment: Startup Equity Shares Legal Structure of Offering: 506(b) Area Served: United States Investors Eligible: Accredited US Investors
Funding raised directly by company: $4.5M+
Funds raised by issuers on platform:
Popularity: Emerging
Business Model: DreamFunded creates a separate single-purpose entity (an LLC) to invest in each of the companies listed on the platform. All investments from members will be made through this single-purpose entity. Once a company has reached its investment goal, DreamFunded will withdraw 10% from the total funds collected for each company, for administering the LLC and providing annual K-1s to its members. LLC documents will stipulate a carried interest of 20% of the total gains for DreamFunded, Inc.
Notes: Planning to use Title III crowdfunding when it becomes available.
Sources: 1 2                              +Direct Communication with Dreamfunded. Last Updated 02/16/2016

Coming soon: International Crowdfunding Platforms, Intra-State Crowdfunding Platforms, and Platforms which intend to to take advantage of the new Title III Crowdfunding rules scheduled to become active in May 2016.