Ended ICO : 28/02/18 – 31/05/18
The HACK Fund is a venture fund created by Hackers/Founders. A liquid venture fund on the blockchain
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HACK ICO fund is a liquid fund on the blockchain. HACK token is the Ethereum-based token issued to investors. Hackers/Founders (H/F) is an organization that has been investing in top startups through an expansive global network. H/F’s portfolio of fifty-five technology startup companies has produced seven exits in only five years , including acquisitions by Facebook and Cisco.
Hackers/Founders (H/F) created HACK to bring its successful approach to the blockchain, increasing accessibility and liquidity for investors.
Traditional startup investors can only realize gains when a company is purchased or goes public. Liquidity events, such as acquisitions or IPOs, rarely happen in Silicon Valley, and even less so elsewhere. As a result, investors seldom profit, and have to wait approximately a decade to find out if they made a good investment decision.
However, HACK is liquid. Investors can buy, sell and trade tokens in a fund that derives value from H/F’s pool of well-performing startups. Hackers/Founders manages a portfolio of post-product stage tech companies, and provides services in exchange for equity. Equity is combined into funds and offered to investors. H/F’s four funds have yielded seven exits in five years.
H/F launched its first tech entrepreneur group in Silicon Valley, and over the past decade, the community has grown to over 300,000 people in 128 cities and 47 countries. This unique network is key to H/F’s ongoing access to high-quality startups for its portfolio.
HACK uses blockchain technology to make startup investing available to people around the world and who are at all levels of investing.
HACK also offers risk diversification. Until this moment, it has been nearly impossible to get exposure to a diversified portfolio of startup equity without having a great deal of wealth. Most importantly, HACK is liquid, and offers investors the ability to realize gains without having to wait a decade.
Hackers/Founders, creator of HACK, has run a proprietary startup program that yielded growth of 30% year over year for the past five years, and has had seven exits out of fifty-five companies from around the world.
In addition, the H/F team will be contributing $1 million worth of stock from existing H/F Funds 1 through 4, so that investors can buy into HACK without having to wait for the fund to acquire strongly performing assets.
HACK is a new Ethereum-based token issued by HACK fund, and can be bought, sold and traded through online exchanges as a liquid transaction.
HACK is based on the ERC223 protocol. ERC223 solves issues with 1 the ERC20 standard while remaining backwards compatible with ERC20-compliant wallets. HACK is a tradeable digital token that can be used for participation, representation, proof of membership in H/F or any other suitable purpose.
KrowdMentor, a strategic investment and advisory firm empowering blockchain investors, funds, startups and entrepreneurs, developed the token. KrowdMentor also provided smart contract development, smart contract management systems as well as through other advisory roles in support of HACK.
HACK will benefit from the same processes, community and experience that resulted in seven Hackers/Founders portfolio exits over the past five years.
With the use of blockchain technology, HACK will make it more possible for people at every level and in every part of the world to invest in startups. In addition, the liquidity of HACK means investors will be able to reap the rewards of a diversified startup portfolio without having to wait for years.