-First paragraph, 2d sentence of launch ought to observe: The new investment round was supported thru Cake Ventures, Portfolia Rising America Funds I and II, and Evolution VC, with both W Fund and Gaingels participating after their Pre-Seed investments. (in preference to The new funding spherical became supported by manner of Cake Ventures, Urban Rising Funds I and II, and Evolution VC, with every W Fund and Gaingels taking part after their Pre-Seed investments.)
He updated launch reads:
SNEAKER INVESTMENT APP RARES ANNOUNCES $four MILLION SEED FUNDING ROUND, LED BY MAC VENTURE CAPITAL
Rares, an modern social investing platform and the number one alternative asset marketplace completely for shoes, pronounces today that it has raised $4 million in a seed investment spherical led by MaC Venture Capital. The new funding spherical have become supported by using Cake Ventures, Portfolia Rising America Funds I and II, and Evolution VC, with both W Fund and Gaingels taking part after their Pre-Seed investments.
The new investment will aid the growth of the Rares institution, growth of its product/inventory, and further beautify its capacity to deliver extremely-rare and precious assets to the cultures that made them well-known.
MaC Ventures is one of the essential VC companies making an investment thru a cultural lens throughout a giant kind of commercial enterprise sectors together with fintech, e-trade and marketplaces, interactive media, connectivity, corporation SaaS, area, and aerospace. Their overarching purpose is to empower neglected corporations who are growing shifts in way of life and behavior, supporting them attain their leap forward second.
“Sneaker lifestyle have become born out of the Black network, however in recent times many folks are priced out of the marketplace,” stated Marlon Nichols, Co-Founder and Managing General Partner of MaC Venture Capital. “Rares is making participation in the collectible sneaker area all yet again available to honestly all and sundry, allowing the minorities and those that helped create the subculture to construct wealth from it. I’m grateful to be a part of this thrilling economic catastrophe for the Rares crew as we artwork to empower communities obsessed on sneaker tradition and building cultural and economic equity in the big collectible sneaker marketplace.”
Launched in April of 2021, Rares has taken the concept of conventional making an investment and merged it with the exceptionally sought-after sneaker market to create a one-of-a-kind platform wherein customers should buy and sell stocks of the very first-rate valued footwear in life. Its goal is to financially empower sneaker way of life and its individuals. Their first vital acquisition earlier than this seed spherical changed into the Air Yeezy prototype, which they obtained for $1.Eight million.
“Access to extensive capital has been the achilles heel for hundreds entrepreneurs, in particular girls and different minorities,” explains Rares Co-Founder, Gerome Sapp. “So as a minority, being able to near this enormous SEED investment spherical with MaC Venture Capital main presents my super institution and I with a modern-day inspired enthusiasm for the first-rate future in advance for Rares.”
Rares now seeks to acquire but some other groundbreaking stage in its product supplying and investment functionality. As they keep to place themselves because of the truth the current rising popular in an exploding billion-dollar global sneaker marketplace, Rares desires to employ its fractional ownership talents as an inroad closer to making an investment for the commonplace customer, growing a brand new elegance of sneaker fans powered with the aid of way of financial literacy and cultural fairness.
About MaC Venture Capital
MaC Venture Capital is a seed-degree project capital firm that invests in generation startups leveraging shifts in cultural developments and behaviors. Our various backgrounds in era, business, authorities, enjoyment, and finance permit us to reinforce up marketers on the verge of their leap forward moment. We offer palms-on support critical for building and scaling class-main businesses, which includes operations approach, brand building, recruiting, and undertaking-critical introductions.
Rares is an progressive social making an investment platform and possibility asset market solely for footwear. Regulated by way of the U.S. Securities & Exchange Commission (S.E.C.) it offers a secure and cozy surroundings for sneaker consumers to shop for and trade fractional possession of extremely uncommon property (i.E. Shoes). It is the only S.E.C. Regulated inventory marketplace exclusively for shoes.