The AICoin Collective will ultimately decide on which investments we make. But so that The Collective is presented with quality projects, the Investment Board will pre-screen applications prior to being included in the list for consideration.
We are putting together a document that creates a fixed way of filtering projects but the first criteria for consideration is that the founders of the project or company need to present the following for review.
- Project must be in the blockchain or artificial intelligence category.
- A pitch deck, pitch video and/or Executive Summary.
- 3 year projection, income statement and balance sheet
- History of company ownership, previous investment rounds (if any) amount of capital raised and percentage of the company given for that capital.
- List of founding team, if the business is incorporated, what jurisdiction and when the business was formed.
After initial approval of the project documentation they will be interviewed by a minimum of 2 board members. Depending on their location, this will be done in person or over SKYPE. After the interview they may be asked to present additional materials to support their proposal.
If accepted for a vote, the documentation will be made available to The Collective and the project founder(s) will need to present their proposal directly to The Collective through an AMA as well as take direct questions through a forum page.
An investment will be provisional until the Tessier-Ashpool auditors perform due diligence on the proposed investment. An investment can be rejected by the auditors to protect the collective’s assets.
At present the board is mandated to present 5 investments to The Collective each quarter. We will be voting on February 22 – 25 to establish a more sensible voting schedule which will be based on when the board can identify 5 quality opportunities for consideration. The reasoning being that we do not want to miss out on an opportunity because it does not fit into an established schedule.
A note about ICOs
The AICoin mandate will only allow investment in assets that provide a clear claim in ownership over the asset being considered for investment. Therefore, most ICOs, which establish no ownership rights to the subscribers are excluded from consideration for the main Investment Pool. However, because The Collective has demonstrated a keen interest in the potential of ICO investment we are voting on February 22 – 25 to establish a sub-pool that would specifically target ICOs for consideration. The ICO would need to grant AICoin a preferential price incentive as is frequently offered in the pre-ICO stage, to give us maximum benefit.
If approved a committee of 3 members would be formed to screen and decide on these investments. Because of the speed with which the token market moves, this committee would have the autonomy to make investment decisions. Some basic rules have been established to govern how decisions would be made. Review the proposal for including ICOs in the strategy.
We are creating something that has never existed before so we fully expect this process to evolve over time as we learn how to improve the way we do things. Comments and suggestions are gratefully accepted.