Via News Release
“MINNEAPOLIS – June 15, 2015 – Minnesota Governor Mark Dayton signed into law MNvest, a groundbreaking system to permit investment crowdfunding in Minnesota, or the ability to pool capital from a large number of investors online. Sponsored by Sen. Terri Bonoff (D) and Rep. Jen Loon (R), MNvest will allow Minnesota businesses to promote investment opportunities to all Minnesota residents.
MNvest aims to provide wider, cheaper, and faster access to funding for companies and entrepreneurs. Previously, Minnesota businesses had been bound by stiffly regulated securities laws limiting who can learn about a company’s fundraising efforts, essentially narrowing the field to accredited investors, or approximately 3% of the population.
MNvest will encourage free enterprise, expand small businesses, create jobs and increase the tax base. The new legislation allows growing businesses to raise capital with support from the community in order to succeed. Finally, any Minnesotan can become an investor and learn about opportunities online via registered MNvest portals.
Potential issuers include technology service providers, farmers, real estate organizations and manufacturers, amongst others seeking capital to expand. Minnesota will join nearly 20 other states that already allow this type of investment crowdfunding. The Department of Commerce is expected to develop an oversight plan and lay out final rules governing MNvest.
For more information about MNvest, please visit www.mnvest.org.
MNvest.org is a 501(c)(4) organization created to promote investment crowdfunding in Minnesota.