VanEck and Brevan Howard Invest in Legion Startup

VanEck and Brevan Howard Digital are at the helm of a $5 million funding round for Legion, a startup with ambitious goals. Legion seeks to revolutionize capital formation by including retail traders who are often excluded from the IPO process. Similar to previous blockchain crowdfunding initiatives, such as the initial coin offerings (ICOs) that emerged in 2017 and modern platforms like CoinList and Echo, Legion provides a venue where startups can sell tokens directly to retail investors. Co-founders Fabrizio Giabardo and Matt O’Connor expressed their intent on X, stating, "Our mission is simple: build the most trusted brand in onchain capital formation and bring the most promising deals to public and institutional investors." In essence, Legion aims to create a framework for a new generation of public offerings, focusing particularly on onchain alternatives. This round of funding arrives at a time when token launches are resurging in the U.S. Recently, Bitcoin Layer 2, Bitlayer, successfully conducted three oversubscribed rounds of token sales, while Lombard launched its BARD token valuation at $450 million in a community-focused sale. Legion's platform includes tools for launching "new asset classes like tokenized equity," designed to facilitate larger and more lucrative deals through partnerships and comprehensive support for token launches, including assistance with Centralized Exchange (CEX) listings and market exposure. The ICO era is making a comeback, but with the backing of professional guidance. As noted by Fortune, the founders have already consulted the SEC to clarify necessary disclosures for public offerings. "This isn’t merely a technological transition. It’s an opportunity to alter who receives funding and who can invest," Giabardo and O’Connor emphasized. "For too long, capital formation has favored the elite. We now possess the means to disrupt this antiquated system." In addition to prominent investors like VanEck and Brevan Howard, Legion has also garnered support from multiple exchanges, including Coinbase, Crypto.com, and Kraken, along with financial entities such as Blockchain Builders and GSR. Disclaimer: The Block is an independent media organization providing news, data, and analyses. As of November 2023, Foresight Ventures is a major stakeholder in The Block. It invests in various crypto endeavors, and Bitget serves as a primary limited partner for Foresight Ventures. The Block operates independently, aiming to deliver timely and factual information about the crypto market, and this article is intended solely for informational purposes.