At SuperCrowd LA, a significant dialogue unfolded between two organizations working to transform the global investment landscape. Andy Field, Steering Committee Lead of the Global Equity Crowdfunding Alliance (GECA), and Jenny Kassan, President of the Crowdfunding Professional Association (CfPA), discussed their shared vision for democratizing finance through borderless equity crowdfunding.
The Vision: Democratizing Global Investment
The conversation centered on a powerful shared mission: making equity crowdfunding accessible to everyone, regardless of geographic location. As Field explained, GECA was created approximately eight months ago with the specific goal of “breaking down borders” in the investment space. With 50 supporters already onboard from around the world, the organization is tackling the complex challenges of enabling truly global investment flows.
Kassan expressed enthusiastic support for this vision, highlighting the fundamental disconnect in today’s financial system: “There is such a need for democratization of investing right now with our global capital markets. Money is flying around our globe with really no limitations at all. But here we are trying to invest in our own communities, invest in businesses that we love and care about. And there’s all these regulations that make it so hard for us to do that, not in our own country, let alone globally.”
This observation cuts to the heart of the current paradox in global finance – institutional capital moves freely across borders, while individual investors face significant regulatory barriers when attempting to invest in businesses they care about, whether locally or internationally.
Regulatory Balance: Protection Without Restriction
Both leaders acknowledged the importance of appropriate regulation in protecting investors. However, they emphasized the need for proportionality in regulatory frameworks. As Field noted, “We understand the reason behind why they’re there… We absolutely love the idea of regulation. It just has to be proportional perhaps.”
Kassan added an important perspective on risk, pointing out that traditional public markets aren’t risk-free either: “It’s not like investing in the public capital of global markets isn’t risky. And it’s not like people don’t lose money doing that.” She highlighted that many public market investments simply move money around without creating productive economic activity, while crowdfunding investments flow directly to companies for productive use.
Real Economic Impact vs. Financial Circulation
One of the most compelling points raised during the conversation was the distinction between investments that create real economic value and those that merely circulate within financial markets. Kassan emphasized that crowdfunding investments go “directly to the company so they can do productive things,” creating impact in the “real economy.”
This perspective challenges the current imbalance where “almost everyone who has money to invest is investing in the global capital markets, not in their own communities or small businesses or non-public companies.” Both leaders advocated for shifting a larger proportion of global investments toward non-public markets and community-based opportunities worldwide.
The conversation also highlighted how global crowdfunding could enable diaspora communities to invest in their countries of origin – creating powerful economic connections that current regulations often prevent.
Beyond Terminology: Investment Crowdfunding
Field and Kassan also touched on the importance of terminology and education. Field mentioned GECA’s preference for the term “investment crowdfunding” rather than simply “equity crowdfunding,” reflecting the broader range of investment models emerging in this space. Both organizations are committed to raising awareness about crowdfunding as a legitimate investment channel, particularly for helping startups and growth-stage companies thrive.
The Path Forward: Collaboration for Change
The conversation concluded with a commitment to continued collaboration between GECA and CfPA. This partnership represents an important step toward aligning international efforts to create more accessible, democratic investment pathways.
As these organizations work together, they face significant regulatory challenges but also unprecedented opportunities to reshape how capital flows to businesses globally. Their shared vision could help create a more inclusive financial system where individuals can invest in companies they believe in, regardless of geographic boundaries.
For more information about these organizations and how to get involved:
- Global Equity Crowdfunding Alliance (GECA): thegeca.org
- Crowdfunding Professional Association (CfPA): cfpa.org
