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Journal

Republic updates

· March 17, 2021

Winning over VC

Announcing our $36M Series A to fund the next chapter in expanding investment access

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In January and February of 2020, Republic’s ecosystem facilitated 22 deals that raised $4.3 million. In January and February of 2021, Republic’s ecosystem facilitated 48 deals that raised $17.45 million. In the first 2.5 months of this year, we have launched more deals than in all of 2019. 

Republic is growing. It's time to expand and build out our capacity to serve founders and investors. 

Today, we're announcing that we have completed the initial closing of our $36 million Series A financing from strategic investors who share our values. The round was led by Galaxy Interactive, with participation by Tribe Capital, Motley Fool Ventures, Broadhaven Ventures, Sahil Lavingia, and Hashed. We also recently received a strategic investment from Prosus Ventures (formerly Naspers Ventures) who are backing the Republic Note project. 

These firms are positioned to provide Republic's community with access to high-quality deals and drive investment towards the founders building the next-generation of household brands. They share our vision of empowering individuals to invest in a future they believe in. Here’s why:

Galaxy Interactive's Richard Kim believes that we are "at the early stages of a multi-decade super-cycle of retail empowerment," and that Republic's innovative drive is key to realizing that empowerment in private markets.  

Michael Sidgmore of Broadhaven thinks that Republic is the on-ramp for investors into private markets, the "Charles Schwab for the next century." Like the discount brokerage that grew into a $6.9T AUM giant, we are helping more people access an investment landscape that they'd previously been shut out of. 

Motley Fool Ventures's mission of championing the individual investor aligns with ours. MFV grew out of the venerable Motley Fool investment advice website, which focuses on giving individual investors the knowledge and tools they needed to break free of mutual funds and invest on their own. 

Prosus Ventures (formerly Naspers) focuses on early investing in businesses that target big societal challenges. They're supporting us in enabling underestimated entrepreneurs bypass systemic gatekeepers by backing the Republic Note.

Since 2016, Republic’s parent company and its subsidiaries have raised more than $70 million to fund our mission of democratizing access to sought-after investment opportunities. In order to provide opportunities in real estate, small business, and video game investment, we've acquired, respectively, Compound, NextSeed, and Fig. We are expanding our crypto offering capabilities and plan on hosting digital asset sales, so that U.S. and non-U.S. investors can invest in the next generation of native digital assets. 

All our growth and fundraising are in the service of one idea: that opportunities should not be limited to small, closed networks of investors, that everyone should be able to invest in the future they believe in. But if you're reading this, you already knew that. Thank you for being with us as we start a new chapter in our journey. 

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11 comments

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Profile picture of Thembelihle Gumede
Thembelihle Gumede
4 years ago
I am a South African citizen without a passport, so does this mean I can't make an investment? Why can't I use my south African ID as identification? I truly don't understand. Most indigenous people do not have passports like myself and it's these marginalization tactics that close doors. Please review your policy
- Thembelihle Gumede
0 Like Reply
Profile picture of LUKE NWIZU
LUKE NWIZU
4 years ago
I actually feel like we have been used to build up Republic and when it’s now time to get some equity you turned you back on us, you guys used the word transparent but we found out about series A after you got 36m from VC, how about you mapping out 10% for the small guys, those 1m plus investors community you brag about, hope you guys know you are slowly losing us
2 likes Reply
Profile picture of Ijeoma Nsaka
Ijeoma Nsaka
4 years ago
Congratulations!🎉 waiting to hear the next big news. I’ve got my R Notes reserved and have to check regularly to see if it has kicked off yet.
0 Like Reply
Profile picture of Vijay Kumar Konduru
Vijay Kumar Konduru
4 years ago
I've been investing on this platform since 2018 when Republic barely had 10 listings. The platform has come a long way since those days and I would say it was mostly powered by the crowd.
It's great to see that Republic is getting the recognition it deserves from the VC crowd but I would've expected the company to go to its users first before offering the opportunity to the big fish. I am hoping that you guys don't do a tiny $1M namesake round at a high valuation to your users and call it a day. Fingers crossed to see what you have in store for us.
14 likes Reply
Profile picture of Sagar Patel
Sagar Patel
4 years ago
Congratulations on raising Series A. No doubt Republic has brought some of the best companies in the last 1.5 years which are already funded and supported by VC’s. Hope you could have stayed with your vision of giving your investors a chance to invest..... “Follow what you preach and don’t have different teeth for smiling and different for chewing. Keep everything transparent “......
6 likes Reply
Profile picture of Ilya Baykin
Ilya Baykin @sagar-patel We're staying true to our vision - just need to work through some red tape. There will be some big announcements in the coming months
4 years ago
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4 years ago
Profile picture of chandrashekar subbareddy
chandrashekar subbareddy
4 years ago
Congratulations on the raise.
You should let your users invest in series A and you will jumpstart your growth even higher/faster. Your users deserve a small portion of Republic equity !
6 likes Reply
Profile picture of Ilya Baykin
Ilya Baykin @chandrashekar-subbareddy We're working on it. Watch this space
4 years ago
3 likes
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4 years ago
Profile picture of Mark Clayton
Mark Clayton
4 years ago
Did Prosus Ventures pay the same price per Republic Note that was offered to investors via the Republic platform?
And if so, can you confirm that there was no other arrangement that functionally lowered the Notes purchase price?
2 likes Reply
Profile picture of Kevin Hardman
Kevin Hardman
4 years ago
Several of Republic's competitors (including Wefunder and StartEngine) currently have fundraises allowing individual investors to participate. It would have been great if Republic had done the same, and it's particularly disappointing considering the personal letter that just went out from Republic CEO Ken Nguyen, explaining how he wanted to make these opportunities available to the masses:

"I wanted to change the system. I wanted to expand access to wealth, opportunities, and financial literacy. Motivated by memories of my 15-year-old self, I co-founded Republic to bring those ideals to light.

This is not just about wealth creation. It’s true, expanding access to early-stage companies, technologies, real estate, and more will help ordinary people build wealth the same way the wealthiest Americans do."
20 likes Reply
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Profile picture of Nahom Yemane
Nahom Yemane @kevin-hardman Hey Kevin, I appreciate you sounding off. What i can say right now is that this is only Phase 1, we have some work to do (and some red tape to unravel) before we get to phase 2 but trust me you won't be disappointed. feel free to swing by our discord, i'd love to hear more of your thoughts discord.gg/r6S9qMEu
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4 years ago
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4 years ago
Profile picture of Kevin Hardman
Kevin Hardman @nahom-yemane Sounds great, thanks.
4 years ago
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4 years ago
Profile picture of Paul Chambers
Paul Chambers @nahom-yemane Yes agree with Kevin. And, Republic Note holders would have liked first crack ....
4 years ago
1 like
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4 years ago
Profile picture of Titus Polichnia
Titus Polichnia @kevin-hardman I agree, very disappointing, like my past marriage. Eighteen years later and im still single and no disappointments, except this one 😝
4 years ago
1 like
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4 years ago
Profile picture of Sean McCuddy
Sean McCuddy @nahom-yemane Hmm, I think there could be a Reg A+ in the works...
4 years ago
3 likes
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4 years ago
Profile picture of Paul Chambers
Paul Chambers @sean-mccuddy Hmm, valuation versus what VC just got is everything
4 years ago
3 likes
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4 years ago
Profile picture of Titus Polichnia
Titus Polichnia @sean-mccuddy maybe, with a 100M valuation. The perk will be KY jelly 🤣
4 years ago
2 likes
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4 years ago
Profile picture of Nathan Bridgman
Nathan Bridgman
4 years ago
If the following is true, why isn't Republic raising from the Crowd, the very people who have contributed to your success? Allowing investors to buy the Republic Note is not the same thing as offering equity in your company.

"All our growth and fundraising are in the service of one idea: that opportunities should not be limited to small, closed networks of investors, that everyone should be able to invest in the future they believe in."
19 likes Reply
Profile picture of Nahom Yemane
Nahom Yemane @nathan-bridgman Hey Nathan, you bring up a valid point. I will say that we're building the foundational work at the moment. we have something in the works and I can't wait to share that with you. Feel free to join our discord community, I'm
happy to continue our discussion :) discord.gg/r6S9qMEu
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4 years ago
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4 years ago
Profile picture of Alan Aspera
Alan Aspera
4 years ago
What was the reason your Series A round was not offered on your platform? I'm still waiting for my Republic Note commitment to be finalized, but many in the Republic community would have wanted equity in Republic other than the Republic Note. I was able to invest in Wefunder at honeycomb.wefunder.com/wefunder so it's a bummer I couldn't do the same with Republic.
Invest in Wefunder: Angel investing for everyone | Wefunder
Wefunder means Wefunder Inc and its wholly owned subsidiaries: Wefunder Advisors LLC and Wefunder Portal LLC. This page is hosted by Honeycomb Portal, LLC Honeycomb Portal LLC is a member of the Financial Industry Regulatory Authority. H... Read more »
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Profile picture of Paul Chambers
Paul Chambers @alan-aspera I bought Wefunder at a $50M valuation, now they are raising at $150M/$160M valuation. "That" is the kinda love Republic needed to show it's Republic Note holders!
4 years ago
2 likes
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4 years ago
Profile picture of Titus Polichnia
Titus Polichnia @paul-chambers yes sir. Unfortunately, when these VCs that have created large monopolistic tech monsters, pull out their blank checks, democratizing private equity is no longer a priority. The culture many large VCs inject into companies, to kill free markets and competition at all costs, is becoming very alarming and big gov seems to be too corrupt to do anything about it. Can I get an amen?
4 years ago
4 likes
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4 years ago
Profile picture of Ilya Baykin
Ilya Baykin @alan-aspera @paul-chambers @titus-polichnia We're working on a something big and unprecedented in terms of a crowd offering - just trying to get the regulatory green light
4 years ago
1 like
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4 years ago
Profile picture of LUKE NWIZU
LUKE NWIZU Working on something Big is what we have been hearing all this time, well I hope you know prop can’t wait for you to work on something big forever @ilya-baykin
4 years ago
1 like
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4 years ago
Profile picture of Jeff Park
Jeff Park
4 years ago
Congrats. However, it would have been nice to allow individual investors to participate in the Series A.
25 likes Reply
Profile picture of Ilya Baykin
Ilya Baykin @jeff-park We're working on something big. Watch this space
4 years ago
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4 years ago

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