Early Facebook backer joins board of Michelle Mone’s crypto P2P platform
EQUI, the cryptocurrency-backed peer-to-peer investment platform co-founded by lingerie tycoon Baroness Michelle Mone (pictured), has bolstered its advisory board with the appointment of Duncan MacInnes.
MacInnes, who was an early-stage backer of innovative tech giants Facebook and Deliveroo, founded his first business at the age of 14, exiting in his early twenties. He went on to set up algorithmic arbitrage company Kineta Trading, which went on to become The Xenfin Group.
“EQUI has the potential to disrupt and transform investment,” said MacInnes. “What excites me most about this is that it will open up investment opportunities to individuals. They will be able to invest – alongside the established investment team – in high-growth technology companies; companies that could be the future Facebook or Deliveroo.”
He joins Mark Pearson and Morten Tonneson on EQUI’s advisory board. Pearson founded early-stage investment fund Fuel Ventures and Tonneson is chief executive of advertising and marketing technology firm Ve Global.
Mone, who founded lingerie company Ultimo, and her billionaire venture capitalist partner Doug Barrowman teamed up to launch EQUI, which enables investors to lend to or acquire stakes in innovative businesses using EQUItokens.
“The EQUI team provides a board of very successful business people, who can help entrepreneurs of high-growth tech start-ups,” said Mone. “EQUI will provide not only investment, but also mentoring and guidance. The board is made up of entrepreneurs who have been in the position of those we are investing in and understand the rollercoaster journey they are on.”
Read more: Cryptocurrency providers eye P2P lending
EQUI, which uses the Ethereum blockchain, is launching an initial coin offering (ICO) which will be used to fund the development of technology and infrastructure and to expand the team.
A minimum investment of $100,000 (£71,502) is required to participate in the pre-sale, which will run from 1 March to 8 March.
The public ICO will run from 8 March to 31 March 2018 with bonuses available in the first two weeks of the sale.
Read more: Coin-backed P2P platforms shrug off crypto volatility
