EQUI Global, a venture capital firm looking to disrupt the financial industry, made an announcement today on a new addition to their team. They announced that Steve Wozniak, the co-founder of Apple computers, would be joining the young venture capital firm as their co-founder. Wozniak has long been a proponent and huge fan of the cryptocurrency industry, but this is one of the first blockchain-related ventures where he has taken a direct role. EQUI Global has yet to announce its official release.
As per their announcement, Wozniak will be head of EQUI Global’s technological outreach and investments. They write:
“As co-founder of EQUI Global Steve Wozniak will head up technology investments and help find the tech stars of tomorrow. Woz will then bring them to the table and the board of serial entrepreneurs will mentor and coach them with world class expertise and guidance.”
EQUI is expecting that some 80 percent of its total investments will be in technology companies with rest being in non-tech assets, such as real estate and investment collectibles.
Wozniak himself commented that his new position as EQUI co-founder is one of those few proposals over the last decade that actually got the green light from him.
“I get ideas pitched to me every single day in fact dozens and I always say no,” said Wozniak. “Since I co-founded Apple with Steve Jobs, this is about the second time in twenty years that I actually said yes, I want to be a part of this. It has to be something I really believe in and I really believe in EQUI.”
Wozniak also said that when he gets these kind of pitches from firms, he often is at a loss as to what he can concretely offer. EQUI, however, is different. One aspect that has stayed consistent with Wozniak is his belief that technology can easily uproot most of our existing industries. In effect, he said, technology forces us to look at problems from a different perspective. Unlike most other firms who have approached him, Wozniak said that his involvement with EQUI Global seemed to be a perfect match. “I know that we have something very special with EQUI,” he said, “I’ve since enjoyed giving my feedback to the technical side of the initiative and will very much be actively involved proud co-founder.”
“A Dream Come True”
Wozniak has praised EQUI Global’s co-founders, Baroness Michelle Mone and Douglas Barrowman, for their forward-thinking approach to the blockchain industry. Last year, the duo announcement the beginning of their $325 million Aston Plaza and Residences, priced in Bitcoin: in February of this year, the couple sold some 50 or so apartments via Bitcoin. One of the co-founders of EQUI Global, Lady Mone OBE, said that Wozniak “was always [my] business icon and it’s a dream come true.”
The couple launched an ICO For EQUI Capital but failed to get to the planned $80 million in funding. Instead, raising $7 million, they abandoned the completed ICO they had expected and rebranded. Now, with their outreach to Wozniak, they have a strong team that has demonstrated concrete potential through their extensive history in the industry.
The EQUI fund will primarily be for non-institutional investors and tech companies. Investors will buy EQUI tokens to secure their place in the venture capital fund. Wozniak is of the opinion that their model has the potential to disrupt the VC industry.
Wozniak said, “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. Ultimately, our mission is to seek, support and fund the blockchain and tech stars of tomorrow.” With 20 or so different companies planned to accompany EQUI Global at launch, it is expected to be massive. It is comparable to the excitement and passion that was present when Apple first started twenty years ago, according to Wozniak.
Wozniak is looking to give EQUI capital an edge by scouting the technology market for new potential partners. By providing liquidity using their EQUI token, EQUI Global is trying to break the traditional mold of venture capital and finance.