About Proxy
Proxy is the first financial services company of its kind, in that it solely caters to special purpose financing (“SPF”). SPF is a financing in which the funds must be used in accordance with written contractual terms and/or certain federal, state, or local laws. Common examples of SPFs are EB-5 funds, municipally bonded funds, venture capital funds, Initial Coin Offering funds, and not-for-profit funds. Funds such as these exist to provide financing for a known, and limited purpose. Whereas more traditional private equity funds receive investment capital to be used at the discretion of the fund manager, SPF funds raise investment capital that must be used for an agreed-upon or regulatory purpose, limiting the SPF fund manager’s discretion over those funds.
Proxy provides custom administration, monitoring, and reporting solutions for private, alternative capital markets. Emerging, alternative capital markets are most popular with younger, tech-savvy investors who seek heightened transparency and accountability. Proxy bridges the gap between traditional asset management services and next generation investors by implementing a blockchain technology platform further protecting interests involved.
Proxy intended to provide state of the art next generation EB5 visa service using technology as a differentiator. EB5 visa as defined by the US government, allows certain HNIs to invest either $900,000 or $1,800,000 in certain designated projects in order to get permanent residency in the US. The intention behind this visa is to generate more jobs for the American public.
Currently, the investors do not have a mechanism to track their dollars in terms of their deployment and usage. The investors lack real time data and are unable to determine the number of jobs that their dollars generate leading to the them being at the mercy of the developers.
The US Government do not have any view towards the actual jobs being generated and are again dependent on the developers reporting the right figures.
Customer Story
Tracking assets in a secure and non-repudiable way
SOLUTION COMPONENTS
SpecChain
ProxyFinancial has setup their blockchain network with SpecChain. With a custom implementation , ProxyFinancial was able to go live in the shortest time frame possible. Further, custom developed smart contracts were able to track funds seamlessly from origin to consumption.
Implementation Services
Spectrum7’s consultants advised ProxyFinancial on developing custom smart contracts that could be automatically deployed on the network. Onboarding of the partners were also simplified through a simple portal thereby reducing time to go live.
