Apis Token Raises $1.7mn In Pre-Sale
Apis Token, the first tokenized hedge fund, has launched on the Stellar Network. It began its private pre-sale in late May, and will benefit from the profits of the ACM Market Neutral Volatility Strategy Fund, a unique volatility based trading strategy with a proven track record run by Apis Capital Management.
"We have had very high interest," says Dr. Edgar Radjabli, Managing Partner of Apis Capital Management, "Due to this being a unique opportunity for investors to access a professionally managed and profitable strategy through the simplified and investor friendly token model." As of June 1st, the strategy has returned 79% annualized over 29 months (192% since inception in January 2016). So far, Apis Token has raised $1.7MM, which has already been allocated to the strategy, so that early investors will benefit from profits generated in the month of June.
The offering model of the Apis Token is different form a traditional ICO, as it allows investors to subscribe throughout the month, with the funds collected deployed at month's end and the tokens simultaneously issued to investors.
The Apis Token is also instantly tradeable on the Stellar Decentralized Exchange. However, since they are issued under Regulation S at this time, Dr. Radjabli states that "non-accredited US investors should not purchase the tokens, and holders should not make sales to US persons" and he reminded that Accredited US investors can contact Apis Capital Management directly to discuss their investment options.
Most importantly the tokens will be redeemable on a regular basis for the proportional share of the Investment Balance held by Apis Token Ltd, the entity issuing the tokens, which is a Limited Partner in the ACM Market Neutral Volatility Strategy fund. This ensures that investors can lock in their profits and receive the redemptions in $USD or the three top cryptocurrencies (BTC, ETH or XLM).
The Stellar platform, on which the Apis Token is built, is the ideal foundation for asset-backed tokens that represent real world assets or investments. It's especially accessible to those that are new to cryptocurrency, and setting up a new Stellar wallet to accept Apis Tokens takes less than 5 minutes. After that, investors simply register with Apis Capital Management, submit their KYC/AML documentation, and fund their investment to receive Apis Tokens.