Silicon Valley Coin
Andra's original claim to fame: tokenizing a venture fund. The pitch was 'democratizing venture capital'; the filings tell a quieter story.
SVC was an asset-backed security token representing an interest in Andra's fund — smart contracts in place of paper, KYC required, Reg D compliant, open to qualified purchasers in 50 jurisdictions, with a stated 80/20 late-to-early-stage mix and a '30%+ IRR' target.
- Apr 2018
Launch & the $500M headline
SVC announced amid the STO boom; trade press reports a $500M+ raise target. Accepted currencies: USD, BTC, ETH, DAI.
- Jun–Jul 2018
Private sale opens; Form D filed
Andra Capital Tokens Inc. (BVI) files its Form D on July 13 reporting $1.3M sold to 2 investors — the only figure ever filed for the token.
- Jan 2020
Pivot to Tezos + TokenSoft
Press release announces SVC will issue on Tezos via TokenSoft (originally ERC-20), in collaboration with the Tezos Foundation. Deloitte audit and DLA Piper counsel are cited in offering materials.
- 2022
Back to a conventional fund
Andra Capital Fund LP (Cayman) files its first Form D; subsequent fundraising proceeds as a traditional offshore LP, reaching $350M by 2026.
- Today
SVC quietly retired from the pitch
The current site no longer features the token; the narrative is a two-fund (growth + late-stage) structure. Lin still appears at Taiwan blockchain-and-AI summits.
Verdict: SVC is best read as a 2018-vintage distribution experiment. The token raised ~$1.3M on paper against $500M of headlines; the real money later arrived through the conventional Cayman LP.