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Once in a while, Jim Cramer likes to go off the tape to dive into privately held companies that show a lot of promise. He thinks that SeedInvest is one company that could bring in major bucks for the future, with its free online equity crowd-funding platform that gives accredited investors a chance to invest in startups.
SeedInvest allows individuals to invest right next to the venture capital firms in privately held startups. It currently has a network of 25,000 users and 7,500 accredited investors. What makes SeedInvest unique is the tough vetting process that it has for its startups, with an acceptance rate of only two percent.
There could be room to grow significantly, too, depending on a positive ruling for the JOBS act scheduled in October. This act will allow for a company like SeedInvest to stretch its network beyond accredited investors and involve regular individuals as well. After all, the investment minimum is only $2,500.
Though Cramer knows that investing in a startup can be risky, he still is excited by the concept. To hear what it could have in store for the future, he sat down with SeedInvest's CEO and Co-Founder Ryan Feit.
"We connect investors to high-quality startup investment opportunities and historically only venture capitalists have been able to get into startups. What SeedInvest does is we have an online platform and we enable ordinary individual investors to get into startups for the first time," said Feit.
The CEO commented on the solid foundation that the company stands on, with investors in mind. SeedInvest treats investors, regardless of how small they are, on the same terms as the venture capitalists that they are investing alongside.
So how the heck would the company make money?
Feit clarified that the platform is completely free for investors, and unlike certain funds do they do not charge any carried interest, management or monthly fees. He stated that the same companies that are making the rounds in Silicon Valley are also visiting SeedInvest.
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"We get paid by taking a small commission on any capital that the startups are able to successfully raise from us," Feit added.
As for his favorite project?
"I don't like to say my favorite company because it's like my favorite child," said Feit.