The co-founder of Apple has joined forces with Scots businesswoman Baroness Michelle Mone in a tech innovator that aims to be a “game-changer” in the venture capital sector.
Steve Wozniak has joined Equi Global, and its founders Mone and her partner Doug Barrowman. It is aimed at “sophisticated” investors, but lets people “become involved in a ‘non-institutional’ way”, harnessing blockchain.
Equi describes itself as a “technology-focused venture capital fund that combines the conventional principles of investing” with a blockchain “back end”, with investors able to buy into the fund and then trade out via the liquidity created by the EquiToken. The token infrastructure is built using the Ethereum platform.
Up to 80 per cent of investment by Equi will be in tech firms with the balance in assets such as property and investment collectibles like art and vintage cars.
Wozniak, nicknamed Woz, said he will “very much be an actively involved proud co-founder” in the business, and will head up tech investments and help find the stars of tomorrow. He will then bring them to the table, and the board of serial entrepreneurs will mentor them.
He said his involvement marks “about the second time in 20 years” that he has said yes to an idea he has been pitched. “I want to be a part of this. It has to be something I really believe in and I really believe in Equi.”
Mone said: “Woz has always been my business icon and it’s a dream come true to be working with him at Equi.” She last year launched a £250 million Bitcoin-priced property joint business venture in Dubai.