A recent SEC filing shows Franklin Templeton is launching a private placement of a second blockchain fund after creating its first one in 2021, which had a relatively modest upper limit of $20 million.
Both funds are issued under rule Rule 506(b), which is a private placement primarily targeting accredited investors, with up to 35 non-accredited. The major differences are the 2021 fund positioned itself as a venture capital fund, whereas the 2023 one is classed as private equity.
The new fund has a minimum investment of $100,000 compared to $1 million for the previous fund.
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