It was announced today that private equity firm FGA Partners, LLC “FGA” has launched a dual purpose funding initiative which will designate $750 million to be distributed over the next 24 months towards viable startups and DeFi projects globally.
Funding
The first part will be distributed towards funding startups globally that would be developing viable DeFi projects on the Pecu Novus Blockchain Network. Such projects would range from communication platforms, gaming apps, artificial intelligence projects, innovative movie projects, metaverse projects and any viable project that would be built on the Pecu Novus Blockchain Network. The funding range to be distributed will vary from $10,000 to several million dollars per project; it is solely dependent on the dynamics and viability of the company or project.
Viable non-fungible token projects associated with Pecu Novus related apps or platforms will also be included in this funding round. This can range from real estate, gaming to the metaverse.
Liquidity Pools
The second part of the dual purpose funding initiative will be geared towards backing liquidity pools that will be created on the decentralized digital asset exchange HootDex. FGA Partners will be performing due diligence on all projects to insure that each company is genuine, the people are real and the project is viable. This vetting process is an effort to protect the general public from potential fraudulent projects, for transparency purposes certain documents will be available to the public for their due diligence purposes.
There are no current company or project value parameters but projections, a one page project summary and short bios of the developers or company founders are required for full transparency.
All tokenized projects will also have a true floor price, meaning that any token created on the Pecu Novus Blockchain Network with a FGA Partners backed liquidity pool associated with it will not go below a certain price point. This will vary from project to project and was included in the initiative to promote trust and FGA’s commitment to growth.
“We are firm on the vetting process, this allows for the firm to bring forward projects that provide both growth potential and transparency. Working with startups and projects that are promising is exciting and I personally look forward to working with many of them over the next 24 months.” stated Dillon Marburger, VP of Digital Assets for FGA Partners.
The DeFi project funding, startup funding and liquidity pool backing will be in the PECU Coin, the native coin of the Pecu Novus Blockchain Network. FGA Partners selected this blockchain network due to its scalability, security and recent network sharding which is autonomous and infinite. Pecu Novus’s use of Proof of Time for validator nodes was also a factor due to it promoting global inclusion.
“It was imperative that we used the PECU Coin for this initiative as our subsidiary MegaHoot Technologies, Inc has built several platforms utilizing the Pecu Novus Blockchain Network in one form or another. Ranging from VeroHive, MegaHoot Soapbox, DocuMega, ChatHive and many others in development. We hope that this initiative brings additional innovation in DeFi and other technology related startups and projects to the Pecu Novus Blockchain Network. I welcome founders, innovators and groups with entertainment related projects such as movies and gaming to connect with me directly.” stated Thomas Welborn, VP of Digital Assets for FGA Partners.
HootDex, which is a decentralized digital asset exchange, in the near future will have interoperability with Ethereum-based assets, which will increase the exposure for all projects developed on the Pecu Novus Blockchain Network. This will also open up the possibility of FGA Partners backed liquidity pools for Ethereum related projects over time.
For additional information on the funding initiative please go to www.fgapartners.com or contact digitalassets@fgapartners.com
For addition information on MegaHoot Technologies and HootDex please go to www.megahoot.com.
To learn more about the Pecu Novus Network please go to www.pecunovus.com
Press Reference: https://www.fgapartners.com/the-dealroom/fga-partners-announces-750-million-in-funding-towards-startups-and-viable-defi-projects-globally/
About FGA Partners
FGA Partners, LLC is a private equity firm that was founded in 1998 with a keen focus on disruptive software and technology in the areas of artificial intelligence, machine learning, augmented reality, augmented reality, cybersecurity and advanced blockchain technology across all industries. For more information please go to www.fgapartners.com
About MegaHoot Technologies, Inc
MegaHoot is an innovative and diverse American software and technology company that is building a global ecosystem that will incorporate comprehensive tools for business that include Artificial Intelligence (Facial Recognition, Computer Vision, Biometric), Machine Learning, Secure Collaboration Technology, Advanced Blockchain Technology, eCommerce and Gaming platforms, as well as other disruptive technological innovations. MegaHoot’s core focus is on developing such disruptive technology in these arenas in order to provide cost effective and advanced solutions for global enterprise, municipalities and individual use via a SaaS (Software as a Service) model.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in which such offer, solicitation or sale would be unlawful, and qualification under the securities laws of any such state. This press release contains forward-looking statements. The use of any of the words “anticipate”, “believe”, “expect”, “plan”, “intend”, “can”, “will”, “should”, and similar expressions are intended to identify forward-looking statements. The forward-looking statements contained herein are based on certain key expectations and assumptions made by the Company, including but not limited to expectations and assumptions concerning the receipt of required regulatory approval. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Media Contact
Company Name: FGA Partners
Contact Person: Sarah Jasper
Email: Send Email
Phone: 646-397-0588
Address:99 Wall Street
City: New York
State: NY
Country: United States
Website: www.fgapartners.com