What is Rares?
Rares operated as a digital platform enabling individuals to invest in fractional ownership of cultural assets, such as art, collectibles, and historical artifacts. The company aimed to bridge the gap between traditional investment markets and the burgeoning alternative asset class of cultural items, making them accessible to a broader audience. Despite its innovative approach to democratizing investment in unique assets, the platform has recently announced its discontinuation of services, including the refunding of all user investments and the automatic withdrawal of remaining balances for users with linked bank accounts.
How much funding has Rares raised?
Rares has raised a total of $4M across 1 funding round:
Angel/Seed
$4M
Angel/Seed (2021): $4M with participation from Gaingels, MaC Venture Capital, and Cake Ventures
Key Investors in Rares
Gaingels
Gaingels is an investment syndicate focused on supporting the LGBTQ community and allies, investing across various stages and sectors with a commitment to inclusive teams and diverse leadership.
MaC Venture Capital
MaC Venture Capital is a seed-stage venture capital firm that leverages cultural trends and behaviors to invest in technology startups, providing hands-on operational and brand-building support.
Cake Ventures
Cake Ventures is a pre-seed and seed venture capital firm that invests in companies addressing demographic shifts and the evolving needs of internet users, particularly focusing on founders with global ambitions.
What's next for Rares?
Following the cessation of operations and the refunding of all investments, Rares' future trajectory is now defined by its closure. The company's decision to cease new investments and process refunds indicates a strategic pivot away from its original business model. While the company expressed gratitude to its community, the operational wind-down signifies the end of its growth phase. Any remaining unclaimed property will be handled according to regulatory guidelines, concluding the company's lifecycle. The focus shifts from growth and scaling to asset liquidation and stakeholder resolution.
See full Rares company page
