Steve Wozniak, technology innovator and co-founder of Apple, has today been announced as co-founder of EQUI Global, a company dedicated to the disruption of the venture capital industry.
Built on a blockchain-powered backend, EQUI Global is a venture capital fund focusing on technology.
It is designed to disrupt the traditional nature of the industry by allowing non-institutional investments, and by enabling investors to trade their investments on external cryptocurrency exchanges in the form of EquiTokens.
The addition of Wozniak, who co-founded Apple with Steve Jobs, adds significant credibility to the company. In addition, he will help identify technology companies worthy of investment, who will be connected to the company’s board of serial entrepreneurs.
“I get ideas pitched to me every single day in fact dozens and I always say no. Since I co-founded Apple with Steve Jobs, this is about the second time in twenty years that I actually said yes,” said Wozniak.
“I want to be a part of this. It has to be something I really believe in and I really believe in EQUI.”
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Wozniak joins founder Doug Barrowman and co-founder Baroness Michelle Mone OBE.
Building venture capital on blockchain
EQUI Global is primarily targeted at what it calls “sophisticated” investors who buy into the venture capital fund through the purchase of EquiToken, a token infrastructure build on the widely used Etherium platform.
The company believes this model will likely be replicated by other venture capital firms due to its flexibility. By selling their EquiToken through cryptocurrency exchanges, investors can easily liquidate investments when they need to.
Around 80% of EQUI Global’s investments will be in technology companies, with the remaining 20% in industries such as real estate and art.
“We’ve already got over 20 businesses that we are looking at and we haven’t even officially launched yet. It’s going to be very exciting,” explained Wozniak.
“Ultimately, our mission is to seek, support and fund the blockchain and tech stars of tomorrow. EQUI Global is a game-changer.”
Why Steve Wozniak backed EQUI Global
For Steve Wozniak, part of the appeal of becoming a co-founder was the opportunity to mentor potential technology unicorns.
“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,” he said.
“I like to see it happen for others and just to be a part of being able to help make it happen for a lot of others out there is going to be a big deal for me. I think I have an important role and I can help a lot.”
He also stressed the potential for technology to transform industries, something that he believes startups such as those set to be backed by EQUI Global can help with.
“There are so many great ideas because I sit down and think, ‘what could I think of doing?’ And it’s usually based upon ‘what do we have today in our life and how could we modify it, make it a little better or radically change it?’ and I don’t come up with many answers. But then I run it at other people and almost everybody has one answer for one thing that I think ‘woah, I never would have thought of that’ so it’s out there in the technology field,” he said.
“I know that we have something very special with EQUI. I’ve since enjoyed giving my feedback to the technical side of the initiative and will very much be an actively involved proud co-founder.”