[HAVELOCK](SFI) Seedcoin Fund I

[seedcoin]

May I ask about payments upon the sale of companies in SF-1? Will shareholders also be paid out pro-rata?

Many thanks!

Yes, proceeds from the sale of shares held by SFI in a company could be considered as special dividends and will be treated in a similar way, they will be paid out to SFI unit holders pro-rata of their holdings. SFI will pass 100% of the payments entitled to its shareholdings in the company onto the SFI unit holders.

[seedcoin]

Speaking of dividends, although regarding their initiation rather than their cessation: is there a tentative timeline for when shareholders might expect to see commencement of dividend payments?

SFI is investing in startups unrelated to crypto mining and therefore following the same rules as any other early stage startups, only those achieving a certain degree of profitability are likely to distribute dividends in the near future, 100% of those dividends as attributable to SFI stakeholding will be passed onto Havelock SFI unit holders. Some SFI startups are profitable but not all of them, early-stage startups are usually not profitable. As a seed-stage fund SFI aims at holding stakes of startups with a high probability of later stage investment (series A) at which time SFI will exit or sell out most of its shares and distribute 100% of the shares sale proceeds to the SFI unit holders via Havelockinvestments.com (as described in a post above).

[twentyseventy]

In other words: Don't expect a dividend from SFI any time soon. This sounds like a bad thing, since people here thrive on news of dividends, but in reality it's not.

These are startups; real startups don't pay dividends in the first year (or at all). Normally, the idea is to take the startup capital and either

1) Get bought out by a larger company, or
2) Become a successful medium to large sized business

In this space, buyouts haven't been very frequent, so I would say that most of these startups are probably looking at the long term. I don't really see any reason for any of them to pay a dividend, actually.

So, if you're in this for the long run, it may be a good investment. If you're looking for dividends in the next 1, 3, or 6 months - you're probably looking at the wrong stock.

[NanoAkron]

But don't be worried by a lack of dividends, because not every big company even pays them.

Two famous examples are Berkshire Hathaway and Apple.

[Bitdust]

But don't be worried by a lack of dividends, because not every big company even pays them.

Two famous examples are Berkshire Hathaway and Apple.

Two somewhat less famous examples:  Labcoin and Active Mining.

[triptamine]

Speaking of dividends, although regarding their initiation rather than their cessation: is there a tentative timeline for when shareholders might expect to see commencement of dividend payments?

SFI is investing in startups unrelated to crypto mining and therefore following the same rules as any other early stage startups, only those achieving a certain degree of profitability are likely to distribute dividends in the near future, 100% of those dividends as attributable to SFI stakeholding will be passed onto Havelock SFI unit holders. Some SFI startups are profitable but not all of them, early-stage startups are usually not profitable. As a seed-stage fund SFI aims at holding stakes of startups with a high probability of later stage investment (series A) at which time SFI will exit or sell out most of its shares and distribute 100% of the shares sale proceeds to the SFI unit holders via Havelockinvestments.com (as described in a post above).

Many thanks for the prompt answers. Much appreciated.

[seedcoin]

We are considering a project in Eastern Africa but not in that state.

Cheers!
While I'm still unconvinced by this project, mostly because of Havelock's involvement, I sincerly appreciate this ironic and fun response (seriously, no pun intended).

Well I have be talking to Havelock since August 2013 and I can tell you the due diligence on Seedcoin has been very thorough and we had a very high number of exchanges before agreeing on the process and approving the offering. I am grateful to Havelock for letting us offer Seedcoin Fund units to their members and providing funds to these Bitcoin startups. Investments in startups, being involved in crypto activities or not, are always risky but sometimes risk can pay off well, and Havelock is one of the few options available for anyone to invest in these startups.

More info on the Eastern Africa venture coming soon...

[NanoAkron]

We are considering a project in Eastern Africa but not in that state.

Cheers!
While I'm still unconvinced by this project, mostly because of Havelock's involvement, I sincerly appreciate this ironic and fun response (seriously, no pun intended).

Well I have be talking to Havelock since August 2013 and I can tell you the due diligence on Seedcoin has been very thorough and we had a very high number of exchanges before agreeing on the process and approving the offering. I am grateful to Havelock for letting us offer Seedcoin Fund units to their members and providing funds to these Bitcoin startups. Investments in startups, being involved in crypto activities or not, are always risky but sometimes risk can pay off well, and Havelock is one of the few options available for anyone to invest in these startups.

More info on the Eastern Africa venture coming soon...

Just my 2 satoshis - I really think offering the zSIM alternative to M-PESA (or maybe in collaboration?) would be an amazing opportunity, not only for bitcoin but also the unbanked of Africa.

[Lohoris]

More info on the Eastern Africa venture coming soon...

Just my 2 satoshis - I really think offering the zSIM alternative to M-PESA (or maybe in collaboration?) would be an amazing opportunity, not only for bitcoin but also the unbanked of Africa.

Agreed, though that's more western Africa unless I'm mistaken.
In eastern Africa I guess they will need something to help or replace hawala.

[NanoAkron]

More info on the Eastern Africa venture coming soon...

Just my 2 satoshis - I really think offering the zSIM alternative to M-PESA (or maybe in collaboration?) would be an amazing opportunity, not only for bitcoin but also the unbanked of Africa.

Agreed, though that's more western Africa unless I'm mistaken.
In eastern Africa I guess they will need something to help or replace hawala.

That's more North Africa (the Maghreb) but it's still a good point. If you can make it sound like Bitcoin is more in keeping with 'Islamic Banking principles' you may find it takes off very well.

[Swordsoffreedom]

Seedcoin Fund I Update: No GoCoin, What Next?

http://bitcoin-betting-guide.com/james-cannings-blog/seedcoin-fund-i-update-no-gocoin-what-next/

TLDR

GoCoin has decided not to accept Seedcoin Fund I investment. This represents a failure of Seedcoin management and an unintentional shafting of investors. More than a week after becoming aware of this Seedcoin has still not communicated it to investors and GoCoin is still listed on SFI Havelock Investment pages.

Investors deserve to be kept in the loop kind of surprised that I am just hearing about most of this information now
In the Disclosure
I became aware of the GoCoin news 4 days ago, 3 days after Seedcoin did. I instantly brought these questions up with Seedcoin and they assured me they would inform the market within a few days.

Guess I wait but looking back nobody has done anything in this thread since January lol

[Peter Lambert]

Does this company not give monthly or quarterly reports? How is an investor supposed to know what is going on? Looks like it has been a scam all along.

[Swordsoffreedom]

Does this company not give monthly or quarterly reports? How is an investor supposed to know what is going on? Looks like it has been a scam all along.

Well they are strangely quiet about their operations would not call that a scam quite yet though

[Bitcoin Betting Guide]

I don't think they are a scam, they just were not prepared to deal with general public investors and don't care about them very much.

[havelock]

All updates for the SFI Fund are made public through the UPDATE tab section when clicking on the Fund:

https://www.havelockinvestments.com/fund.php?symbol=SFI

[seedcoin]

Does this company not give monthly or quarterly reports? How is an investor supposed to know what is going on? Looks like it has been a scam all along.

Hi Peter,

I was at Inside Bitcoin NY last week, then DATA meeting in DC, then at the Toronto Bitcoin Expo 2014. We try to be as open and available in what we do, failure to update this thread on bitcointalk does not mean there is any issue with our operations. Fyi I invite you to contact any of the founders of the following startups: Cryptopay, CoinSimple, MexBT, Hive, zSIM and BTC.sx and ask them about Seedcoin and our involvement. I am in regular contact with all the entrepreneurs on a regular basis, helping them in various areas or providing assistance through our mentors and legal advisors. We are busy making sure these startups go to the next level of funding and I am confident SFI unit holders will benefit from our early involvement with these companies. Many VCs, angel investors and boutique investment firms are seriously looking or investing in Bitcoin startups, Seedcoin is in a unique and privileged position to benefit from the increase of interest from investors in this space. I can be reached at any time via <info@seedco.in> if you have any questions about our operations do not hesitate to contact us.

[seedcoin]

Seedcoin Fund I Update: No GoCoin, What Next?

http://bitcoin-betting-guide.com/james-cannings-blog/seedcoin-fund-i-update-no-gocoin-what-next/

TLDR

GoCoin has decided not to accept Seedcoin Fund I investment. This represents a failure of Seedcoin management and an unintentional shafting of investors. More than a week after becoming aware of this Seedcoin has still not communicated it to investors and GoCoin is still listed on SFI Havelock Investment pages.

Investors deserve to be kept in the loop kind of surprised that I am just hearing about most of this information now
In the Disclosure
I became aware of the GoCoin news 4 days ago, 3 days after Seedcoin did. I instantly brought these questions up with Seedcoin and they assured me they would inform the market within a few days.

Guess I wait but looking back nobody has done anything in this thread since January lol

Sorry about any delay in providing timely information about GoCoin and its refusal to accept our investment. We have worked with the GoCoin stakeholders and founder since last November and we did not manage to finalize this investment. I would like to assure all SFI unit holders we have made our best efforts to complete the investment in accordance with our investment policies which have been accepted by the other startups until such time as GoCoin legal advisor eventually informed us of this decision. While the information was received earlier by email we had to discuss it internally among our partners and our lawyers and I have also met with GoCoin stakeholders in the US last week. We have removed GoCoin from the Seedcoin website. We have not removed GoCoin from the SFI Havelock initial investment prospectus but we will remove GoCoin pitchdeck from the SFI startup list. We will ask Havelock Investments approval to issue an update for the SFI investment prospectus.
We maintain cordial relations with GoCoin's founder and stakeholders and wish them success in their ventures.
At this stage we have decided not to introduce a new startup in SFI as we are aware that several of the current SFI startups may need additional bitcoin investment and such investment may result in a stronger case when discussing with future external investors. SFI has committed BTC1,400 to the six other SFI startups so far. 11% of the fund raise was meant to fund Seedcoin operations and startup support activities out of which we have paid 5% of the bitcoin fundraise to Havelock Investments. Any further investment in SFI startups will be communicated prior to the operations and will result in the acquisition of additional shares of these startups by the fund and therefore an increased stake for SFI unit holders.
We are working hard on a daily basis with SFI startups so that their performance may attract serious and reputable series A investor interest to reach positive results for SFI unit holders.

[NanoAkron]

Thank you for your updates.

[Swordsoffreedom]

Thank you for your updates as well, glad to hear some news about the current state of affairs at Seedcoin.

[NotLambchop]

Good news everyone!  You have a twin, Seedcoin II!
https://bitcointalk.org/index.php?topic=582933.0