Tech entrepreneur and co-founder of Apple, Steve Wozniak, has joined EQUI Global, a venture capital fund built on the technology of blockchain, as its co-founder.
In a blog published on Medium by the company, Wozniak expressed his willingness to scout the “tech stars” of the future of the industry. He also added here that, he receives innovation pitches on a daily basis, still, this is the first time since Apple that he has agreed to join a company, he believes that this technology has the power to modify and develop the businesses. EQUI Global not only grabbed his attention but also convinced him that it has the potential to be a “game changer.”
As per Wozniak, the team is keeping track of 20 different companies ahead of its official launch. Once they select the companies for the shortlist, they will then be mentored by the EQUI Global’s board of social entrepreneurs. Here Wozniak said, “We are the teachers and I believe in that so strongly because Apple was strongly mentored. The enjoyment we had, the passion, starting the company, the excitement, it’s the most exciting thing.”
Wozniak also praised EQUI Global’s co-founders, Douglas Barrowman and Baroness Michelle Mone, for their background of supporting blockchain technology. Just last year Barrowman and Mone announced the development of $325 million Aston Plaza and Residences in Dubai under the supervision of their private equity firm Aston Ventures. In February this year they sold 50 apartments to Bitcoin users with success.
After that they launched an ICO for EQUI Capital with a target to raise $80 million by the end of June 20178 but managed to raise only $7 million. The company then decided to abandon the ICO and changed its name to EQUI Global and formed a partnership with Wozniak.
Speaking on the new addition to the team, Mone explained, “Woz [Wozniak] has always been my business icon and it’s a dream come true to be working with him at EQUI.”
The EQUI fund will primarily focus on non-institutional investors and tech companies with only 20% fund set aside for real estate, investment collectibles and tech companies. Investor the option to EQUITokens to join the venture capital fund and they will also have the freedom to sell these tokens at will on external exchanges in order to liquidate their investment.
Wozniak believes firms like of EQUI will challenge the traditional VC industry and allow other companies to follow this new model based on blockchain technology.