Funding Launchpad changes name, focus
Last Updated: 14:10 August 22, 2013
Funding Launchpad is the trade name of Boulder-based Vim Funding Inc., a company that makes a crowdfunding software platform. The company has five employees and offices in Boulder and Denver, according to co-founder Dave Milliken. Crowdfunding has taken off since Congress passed the Jumpstart Our Business Startups, or JOBS, Act in 2012 to allow it. In general, it allows individuals and companies to raise money online through sites such as Kickstarter.com and Indiegogo.com.
Investments listed on the Grofolio.com website all will be vetted by an investment bank, Milliken said. The first investment opportunity is in a Boulder solar company with more than $15 million in revenue, according to Milliken. He declined to give details of the investment because of U.S. Securities and Exchange Commission disclosure rules. But those interested in finding out more can register on the Grofolio website, he said. Two other Boulder-based companies will be listed on the website as new investment opportunities soon, Milliken said.
Grofolio's plans are to offer investments that target "accredited investors" who have a net worth of at least $1 million and income of at least $200,000 annually, according to requirements laid out by the Securities and Exchange Commission. Accredited investors can make private placement deals without registering with the SEC, according to federal rules governing such investments. Grofolio also has an agreement with Bendigo Securities LLC in New York, a registered securities dealer, according to the company's website.
Milliken and Grofolio co-founders Shane Fleenor and Steve Reaser all have been active in the startup community in the region. Milliken formerly was vice president of marketing for Smashburger, the burger restaurant chain.
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