The Real Deal New York

Crowdfunding without the crowd

As small-time investors get pushed to the sidelines, the sector is looking less like the populist revolution that was promised
By Konrad Putzier | July 07, 2015 10:30AM

From the June issue: These are exciting times for Fundrise, the Washington, D.C.-based crowdfunding platform. After spending the bulk of its five years financing small-scale projects, the firm is currently working on its biggest deals yet — by far.

The company, one of the most high-profile crowdfunding platforms, is raising $10.5 million and $15.5 million for two undisclosed commercial properties in Brooklyn and Atlanta, according to co-founder and president Dan Miller.

The catch: most of that money won’t actually come from the so-called “crowd.” [more]