# kaal:claim:3002908-039

**Claim.** Initial coin offerings have overtaken venture capital as a funding channel for blockchain start ups, raising 331 million dollars in twelve months, and may become an alternative funding method for traditional companies as well.

**Type.** predictive  **Support.** evidenced

**Holds when.**

- twelve month window reported as of mid 2017

**Source quote.**

> Started as a phenomenon that is revolutionizing the way start-up companies investing in blockchain raise capital (in the last 12 months ICOs have raised $331 million, overtaking venture capitalists' investments),157 it may become an alternative method for many traditional companies.

**From.** Wulf A. Kaal, Marco Dell'Erba, *Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and* (2017), IV.2. Europe, page 26

**Cite as.** Wulf A. Kaal, Marco Dell'Erba, Blockchain Innovation in Private Investment Funds - A Comparative Analysis of the United States and (2017). SSRN: https://ssrn.com/abstract=3002908

**Verify.** sha256 of source PDF `06a7b61e75f905ee07e422e875d83a65c5033a248a6e05a213523b034e5db534` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Dell%27Erba%20-%202017%20-%20Blockchain%20Innovation%20in%20Private%20Investment%20Funds%20-%20A%20Comparative%20Analysis%20of%20the%20United%20States%20and.pdf

**Topics.** securities-law, tokenomics, innovation

**Keywords.** initial-coin-offerings, venture-capital, crowdfunding, capital-raising

**Superseded by.** A later claim revises this one. Prefer quoting: https://wulfkaal.github.io/claims/3606663-002

**Related claims.**

- supported_by: https://wulfkaal.github.io/claims/3962614-017
- supported_by: https://wulfkaal.github.io/claims/3117224-001
- supported_by: https://wulfkaal.github.io/claims/3067615-016
- extended_by: https://wulfkaal.github.io/claims/3067615-001
- supported_by: https://wulfkaal.github.io/claims/3067615-014

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