Investment firm Republic will list its profit-sharing digital security token, the Republic Note, on INX’s trading platform through the Avalanche blockchain on Dec. 6, the company said in an emailed statement.
The security will offer investors exposure to Republic’s venture portfolio of over 750 private companies including both Web2 and Web3 businesses and assets including SpaceX, Dapper Labs and Carta.
The token will be available for non-accredited investors with low minimum investment levels, making it accessible to retail investors who usually cannot take stakes in private companies without accreditation and large checks.
The way it works is when one of the companies has a liquidity event such as a dividend payment or other cash-generating occurrence, profits flow into a Republic Note dividend pool. Every time the pool reaches $2 million, Note investors get USDC dividends sent to their digital wallets.
“The Republic Note’s listing is not just a milestone for Republic – it represents a shift in the landscape of private equity,” co-founder and CEO Kendrick Nguyen said in a statement. “Owning even one Republic Note can unlock an important new level of accessibility, transparency, and liquidity to private equity.”
The path to the Republic Note’s listing has garnered a significant amount of interest, raising over $30 million from Binance and the Avalanche Foundation as well as individual investors in a private sale before the listing, according to the statement.
Since 2016, Republic has deployed over $2.6 billion into privately held ventures, according to the release. Republic became one of the first platforms to allow private companies to raise capital from nonaccredited investors through Regulation Crowdfunding.
Republic is backed by Morgan Stanley, AngelList and Galaxy Digital.
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