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FIC Network aims to enhance upon traditional systems within the fixed income market by integrating blockchain, therefore hoping to scale back costs, operational friction and commercial risk while increasing transparency. Current credit/debit origination practices, sales, and settlement are highly fragmented within the traditional markets. In some instances, settlement for company bonds remains processed manually. FIC Network could create a streamlined, efficient and cost-effective process to disrupt the market.FIC Network is backed by several accelerators, VC's and credible advisors.
We anticipate the corporate is going to be well supported from an institutional perspective. Deal structure of the offer is compelling. The hard-cap puts a ~$30m market capitalization on the corporate (depending on bonus inclusion). The team has sufficient experience from both a billboard and technical perspective. The corporate has been operational since 2014. Astronaut is interested in FIC Network and believes that it's working towards disrupting one of the most critical opportunities within the financial ecosystem. For the explanations listed below,
Astronaut is taking exposure to FIC Network:
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The deal structure is compelling with a bit of hard-cap and tight allocation. The market opportunity is critical, and FIC Network is only ready to secure a small number of major jurisdictions. The company is operational since 2014, showing an excessive amount of commitment and prior success in gaining the support of several accelerators and risk capital firms.
While we do not usually place a considerable amount of importance on company advisors, some leading personnel support the FIC network. While we are interested in FIC Network and its ambitions, we acknowledge the regulatory hurdles it's going to face. We highlight this as a possible risk prohibiting growth. In light of the preceding, the Astronaut Investment Committee (IC) has agreed to require conservative exposure for the medium-term with the likelihood of further investment during the ICO's presale and public sale phase.
CBW - External Analyst