Charleston, SC -- (ReleaseWire) -- 09/07/2018 -- Today, Charleston Capital, Inc., the parent company of South Carolina based alternative asset manager, Charleston Capital Management, LLC announced that it has acquired 100% of the equity crowdfunding portal EquityBender, LLC. The companies entered into a definitive agreement on May 15th, 2018 and was approved by FINRA on August 7th. The terms of the transaction were not announced.
Per the terms of the agreement, Kevin Maloney, the founder of EquityBender will be staying on as an advisor to the funding portal. "I am very excited to be working with the Charleston Capital team on the next phase of EquityBender, " said Maloney describing the acquisition.
Charleston Capital has indicated that it plans to have EquityBender take a more active role in helping companies raise Equity Crowdfunding. McLean Wilson, the Chief Executive Officer of Charleston Capital will be leading the effort at EquityBender. In the firm's internal announcement, Wilson said, "Equity Crowdfunding represents an unparalleled opportunity for the democratization of venture capital for earlier stage companies. We look forward to helping facilitate investor access to truly innovative opportunities and believe that the space will only continue to grow from here."
Regulation Crowdfunding, which came about in 2012 through Title III of the JOBS Act, allows companies to raise up to $1.07 million from the general public via approved funding portals. To date, over $125 million has been raised through Regulation Crowdfunding offerings and over $10 million was raised for companies under the act in July of 2018 according to Crowdfund Insider.
About Charleston Capital
Charleston Capital, Inc. is the parent company of Charleston Capital Management, LLC, a South Carolina based alternative asset manager which seeks to generate attractive, absolute returns by opportunistically and tactically investing in areas where conventional sources of capital are disproportionately unavailable. Charleston Capital Management serves as the fund manager to the Drift Credit Opportunities Fund, a structured credit strategies hedge fund focused on secured financing for FinTech enabled non-bank lenders.
EquityBender, LLC is an equity crowdfunding portal registered with the Securities and Exchange Commission and a member of the Financial Industry Regulatory Authority ("FINRA"). EquityBender provides an online platform for investors to identify, evaluate and invest in early-stage companies that meet their personal portfolio requirements. The company leverages its user-friendly, transparent, and secure platform to facilitate the connection process between investors and companies raising capital.
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