Crowdfunding is the raising of capital through online communication. The basic principle is that the more potential investors a campaign’s communication reaches, the greater the likelihood of a successful start. Early investors act as a magnet for others, who generally wait and decide later or often at the last moment, knowing that the expression of investment intent cannot be rushed as it is revocable until the end of the campaign. An increasing number of investors bring in even more, generating greater trust. However, during broad communication, only attention is captured; the investment offer is only visible to users who have obtained an investor profile.
The Campaign Management Plan, jointly prepared by the Campaign Owner and TokePortal’s dedicated Campaign Manager, contains the structure of the campaign communication, aiming for the successful execution of the campaign as a time-bound, agile project. This includes a communication and documentation plan for the 4 campaign stages.
The 5 stages of the campaign are:
1) Pre-registration is the most critical and least risky phase, as no investment is accepted yet. It is flexible and allows for initial feedback to modify the campaign details. It can be crucial for expected success and lasts 2-6 weeks. Founders must actively direct their networks to the pre-registration page, where a one-pager equivalent is available. Potential investors sign up for a newsletter and, if not done earlier, obtain their investor profile. The goal is to attract sufficient investor interest to meet the minimum capital target, typically ensured by a minimum of 500+ visitor conversions per week. This phase aims to merge TokePortal’s existing users with the followers and networks of the Campaign Owner and its founders.
2) The closed phase starts when all campaign documentation is visible on the site, a Custodian Account is opened, and card payments are enabled. Pre-registered investors are offered the biggest discounts and the opportunity to invest first. Within a day, they must pay the specified deposit or the full amount to the Custodian Account. The Campaign Owner has access to this account but can only withdraw funds upon transaction closure and with TokePortal’s approval, simultaneously with the issuance of shares. This phase is also ideal for finalizing investment terms and striking a deal with the Lead Investor. A campaign may reach its minimum capital target or even close during this phase. Mandatory investor meetings are held, and the communication plan is followed until the end of the campaign.
3) The open phase (45 days, extendable twice for valid reasons) is mandatory unless the campaign successfully closes during the closed phase. The last day of this phase is the deadline for withdrawing investment commitments (DoC) TokePortal announces the campaign’s success if the minimum capital target is met (indicated by 100% on the campaign tracker) or earlier if the maximum capital target is reached. Otherwise, the campaign is declared unsuccessful. Investors are informed via email about their remaining payment obligations, which are due within a few days, followed by a penalty for non-compliance. If an investor pays the deposit but fails to fulfill the second payment, they lose the deposit as a cancellation penalty. If the full capital is paid but shares are not collected, they are transferred to the Campaign Owner’s securities account, and the investor is notified and can retrieve them after paying significant administrative and transaction costs within a year.
4) Secondary trading can start in the weeks following the campaign closing and continues as long as the issued securities remain tradable. TokePortal connects buyers and sellers, displaying sale offers and potential buyer offers on its website and helps with transactions.
5) The post-campaign phase starts at the time of share issuance and lasts for 3 years. TokePortal supports investor information rights, organizes meetings, and participates in general assemblies. Communication during this phase is crucial for reporting on plans realized with the capital and potentially preparing for new capital raising rounds.