December 19, 2017 Volume 10
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With so many Blockchain, Bitcoin and ICO questions coming to us from LPs and others, we thought that focusing this issue on these areas would help all of us stay on track.

As the year comes to an end, we have much to celebrate at Vestigo. The fund is well on its way to hitting our target. We have some amazing LPs who are already helping us identify new investment opportunities. Our portfolio companies’ leadership teams are making significant progress growing revenues. We’ve asked all partners to share their own reflections on what they’re most thankful for and what has brought them the greatest happiness.

Dave & Mark

Envision Interview with Mark Enriquez

In this month's Envision Interview Mark Enriquez from Frictionless Markets discusses Initial Coin Offerings. He reviews everything from what they are, to examples of how companies are using them and the difference between Kickstarter and an ICO. 

The market continues to be driven by blockchain hype, surging Bitcoin prices and confusion over ICOs. We thought we would share what we have learned about these trends and why they are connected. We acknowledge this may be a bit basic for some while enlightening for others.

How Does the Blockchain Work?

See a demo from Vestigo Board of Advisors member Anders Brownworth on how to use the blockchain. This is a roll-up-your-sleeves, coding demonstration designed in a way anyone can follow. This will give you bragging rights at cocktail parties to tout your prowess as a blockchain hacker.

It also shows the need to understand what technology can and cannot do for your business — something we dig into with our LPs and portfolio companies on a regular basis.

I am happily married now 27 years. Lynn and I are blessed with three amazing children. As I reflect on the question, “What am I most thankful for?” the answer begins with family.

In 2011, I had a great job with SVG Capital. But I also had an entrepreneurial itch to scratch — which involved pursuing a tremendous market opportunity I could address by creating a new company. 

As a classic MIT technology guy, I am most thankful for the ways data can make the world a better place. A great example is everything we have done at Vestmark to lower costs for investors. The remarkable success we’ve had at Jobcase getting people hired is another. The possibilities for the future of FinTech and the consumer economy are endless. 

Reflecting back on 2017, it’s been an amazing year for me and my family. Highlights include the amazing trips we were able to take to faraway spots like Cuba, New Zealand and Botswana among others. We are so thankful for these opportunities to see the world in its infinite variety. 

Portfolio Updates

Congratulations to Vestmark for making the list.

The article, Morningstar’s Tax-Cost Ratios Beat Its Fund Rankings describes how financial advisors rather than allowing clients to assume the fallacy of performance outliers, should be helping them with tax-smart asset location.
 

Industry News
Bitcoin Billionaire Winklevoss Sees Surge of as Much as 20 Fold

Cameron Winklevoss, thought to be one of the largest holders of bitcoin, thinks the cryptocurrency’s blazing gains this year are just the start. He predicts it will rise as much as 20-fold as investors come to view it as an upgrade to gold.

What Is an ICO?

An Initial Coin Offering, also commonly referred to as an ICO, is a fundraising mechanism in which new projects sell their underlying crypto tokens.

Tokens are early today, but will transform technology tomorrow.

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