What type of crowd funding?
There are many types of 'crowd funding' floating around
on the internet. The most visible is project-based – think of
websites like Kickstarter or Pozible where you
'pledge' a certain amount of money and get a
'reward' (usually a physical product) in return. These
platforms are popular but 'pledgers' have almost no rights
to receive any sort of return or reward.
CAMAC has restricted its scope to look only at CSEF, which is a
form of corporate capital raising:
"Broadly, [CSEF] contemplates a company (the issuer)
seeking funds, particularly initial ('seed') or early stage
capital, by offering its equity to internet users (the crowd) in
return for cash. Issuers would publish their equity offers through
a website (sometimes referred to as an 'online portal' or a
'funding portal'), the operator of which would serve as an
intermediary between the crowd investors as the issuer, for the
purpose of the equity transactions."
