Lighthouse Global Holdings Inc raised $104,000
NEVADA, July 29, 2019 -- LIGHTHOUSE GLOBAL HOLDINGS, INC. (OTC: LHGI), announced today, for the first time since taking over the management in April 2018, the Company had raised $104,000 with new issue of 1,600,000 restricted common stock at the price of $0.065 in June 2019 under Reg S(strictly for foreigners/non-US citizens). The fund will be used mainly for revamping development of the PROJAGG platform, the first potential Unicorn acquisition in Nov 2018.
PROJAGG is a Global B2B Sharing Economy platform powered by its own proprietary 2-Tier Vaultchain Technology coupled with a unique contract tendering process, TenderSys, that claims to eliminate fraud, missue, abuse and misappropriation of project funds.
In the recent participation of RISE HK in July, a convention for startups, attended by 16,000 delegates, PROJAGG showcased its Beta version to potential collaborators and Venture Capitalists with great enthusiasm. In fact, in the RISE Convention, it is the first and only kind of platform that caters to the needs of real estate and infrastructure developers, all over the world, promising the funding community a peace of mind with its vault-like structure technology.
Mr Danny Lim, CEO of LHGI and Projagg said, "it is totally a surpise to us that in a startup convention, we received a list of projects that are very keen to be placed on Projagg; from Hungary, Hongkong, Korea, Thailand, Philippines, Malaysia to Australia. I believe we will attract lots of attention from developers all over the world when we close our first funding deal for them over the next couple of months."
According to Danny, Projagg had received applications for funding needs exceeding $1 billion from more than 12 projects, ranging from as little as $10 million to $250 million, with many other projects rejected due to failed and incomplete documentations.
Danny reiterated, "it is unfortunate that 80% of the small and medium size developers are being edged out by the big and well funded developers supported by their banks. It is extremely difficult for these underdog developers to acquire any financing via the traditional means of bank loans. So, Projagg bridges this huge gap. Then again, why would the funding community trust the developers? Development projects are fraught with much risk. So, to eliminate such risk, Projagg incorporates the 2T Vaultchain & TenderSys so investors will have the peace of mind that nobody can touch the fund. And our strategic gameplan to ensure all parties have an alignment of interest, which will enhance the efficiency and effectiveness of the project's success. Nobody can cheat, bully or take advantage of another in our system.".
Going forward, LHGI, with its vision of being a Unicorn Breeder, has plans to acquire another 3 to 4 startups, within the development ecosystem. The reason for this strategy, as explained by Danny, is to leverage on each startup's expertise and technology know-how, so as to accelerate its traction and growth, using the same clientele base of Projagg. In this way, according to Danny, these startups may only require 6 to 8 months instead of 18 to 24 months, and much lesser funding will be required. Indeed, it seems like a different strategy to the Venture Capitalists' method of investing in a portfolio of companies.
To date, there are more than 380 Unicorns, and more than 3 dozens(with fundings exceeding $100M) had failed miserably, including huge Unicorns like Theranos, who raised $400M, Arrivo who raised $1BN, Better Place at $635M, and Jawbone burnt $900M, just to name a few.
It would be interesting to see how LHGI will outperform the traditional VC market over the next few years with such an innovative "breeding" strategy.
About Lighthouse Global Holdings, Inc.
Lighthouse Global Holdings, Inc. a Unicorn Breeder, is a diversified holdings company that acquires 100% or a majority of the emerging companies in key industries where rapid revenue growth and market share penetration are poised for significant gains. The main focus is to acquire, invest and partner with companies that have competent technology teams with a unique edge in their marketplace. The evaluation matrix and synergy screening process help to filter hundreds of opportunities to effectively pick companies that can grow and evolve into high performing growth entities. In short, LHGI hope to be a powerhouse of Unicorns in time to come.
For more information on Lighthouse Global Holdings, Inc., visit www.LHGIncorp.com.
Jemelle Castro jem@LHGIncorp.com