The Argon Group, a Los Angeles-based company focusing on cryptocurrency and token-based capital markets with end-to-end ICO solutions has confirmed the dates for the launch of startup studio Science Inc.’s forthcoming ‘Science Blockchain’ ICO and presale, which they will be advisers on.
The presale will take place on September 11th and the public ICO will begin on October 2nd. This is the first incubator ICO to enter the market.
Also based out of LA, since Science started in 2011, they have co-founded and invested in more than 70 companies and exited multiple companies including Dollar Shave Club (acquired by Unilever for $1B), HelloSociety (acquired by New York Times) and FameBit (acquired by Google). They have a track record for identifying legacy industries and creating platforms for innovation.
Science wants to use their expertise at company building to now help select blockchain entrepreneurs in their growth efforts. They believe token holders should benefit from access to a stream of new tokens from Science’s carefully incubated portfolio of blockchain-enabled companies. In turn, investors should, as a result, participate in any upside from ownership of the Science tokens, as the proceeds from dispositions of portfolio companies are anticipated to be used to repurchase those tokens via a buyback program.
Those eligible will be able to participate in the purchase of Science Blockchain tokens with BTC, ETH or fiat. The Science ICO tokens are being offered on a limited basis, in the US to a maximum of 99 accredited investors. In any member state of the European Economic Area, the Science tokens are only being offered to qualified investors.
The team at Science noted they have been watching the space carefully for some time now, and have seen a number of what they believe are really interesting opportunities, stating:
“As managers, we believe a significant part of the value we bring is our experience helping small companies with great ideas become big companies with great ideas. We’ve successfully run incubators for many years, and the truth is, it requires a lot of work.
“We won’t pretend to know what our future portfolio will look like, but we can tell you we’re not talking about 100 companies – our aim is that ultimately we will have ten investments in various stages of development at any one time.”
More details about the tokens, ICO fundraising targets, dividends, etc. will be available in the Blockchain Science Offering Memorandum which is due to be available in September. Initial outlines have the company looking to raise $50 to $100 million USD.