Swarm Closes $5.5 Million ICO for Alternative Investment Fund

Swarm Closes $5.5 Million ICO for Alternative Investment Fund

Swarm, a cooperative ownership fund for investment assets, has raised $5.5 million in an initial coin offering (ICO). Philipp Pieper, a partner at the company, told CoinDesk that 637 contributors took part in the token sale, which was split into two phases. All told, those backing the project gave 18,048 ethers in exchange for 8,171,014 SWM tokens, with almost all of the funding being raised during the pre-sale. Owners of Swarm Fund tokens can vote now on the way in which their tokens will become liquid on the open market, reflecting a pivot the company made two years ago, […]