Last week, I had the privilege of representing the Global Equity Crowdfunding Alliance (GECA) as steering committee lead at SuperCrowd LA 2025, hosted by the ever-inspiring Devin Thorpe and the Supercrowd team. This flagship gathering brought together pioneers, operators, and advocates working at the forefront of community capital and purpose-driven finance.
A Vibrant Community Driving Transformative Change
The energy at SuperCrowd was electric – a testament to the remarkable individuals who have built this industry from the ground up. From visionary platform founders to brilliant marketing strategists, from passionate mission-driven entrepreneurs to sophisticated investors seeking both returns and impact, the event highlighted the incredible human capital that powers equity crowdfunding.
What makes this industry truly exceptional is not just its innovative financial models, but its unwavering commitment to democratizing access to capital. Time and again, I heard inspiring stories of founders who have leveraged crowdfunding to build businesses that would never have secured traditional financing, creating jobs and solving pressing social challenges along the way.
The sophistication of today’s platforms and marketing agencies is extraordinary – with data-driven approaches, cutting-edge technology solutions, and deep expertise in regulatory compliance creating unprecedented opportunities for companies seeking funding and investors looking for promising opportunities.
Evolving Beyond Current Limitations
While celebrating these strengths, there was also thoughtful recognition that our industry has reached an inflection point. As one speaker aptly described it, the current landscape resembles “a Frankenstein’s monster” of different sectors, geographies, stages, and instruments – creating navigational challenges that limit our collective potential.
This opportunity for greater connectivity and efficiency lies at the heart of GECA’s mission: creating a truly borderless equity crowdfunding ecosystem that transcends geography and regulatory silos. The enthusiasm for this vision was palpable throughout the event, confirming we’re on the right track to build upon the incredible foundation that exists today.
The Hard Numbers: Success and Failure in Crowdfunding
Jason Fishman from Digital Niche Agency shared valuable market data that gives us a clear picture of our industry’s current state. His analysis of 642 live deals across major platforms revealed that while the top 10% of campaigns achieve impressive results, approximately 50% raise little to nothing. As Jason pointed out, “Success in capital raising comes from strong marketing, outreach, and realistic expectations” – not simply having a good idea or listing on a platform.
These figures highlight both the tremendous success stories and the real challenges facing our ecosystem – reinforcing that effective marketing and strategic planning remain essential components of successful fundraising.
For GECA, these metrics underscore the importance of education, setting appropriate benchmarks, and developing better frameworks for campaign success. We need to address both the successes and failures openly if we want to strengthen the entire ecosystem.
Beyond Funding: The Exit Conversation
I was honored to speak on the “Crowdfunding Exits” panel, a discussion that dug deep into one of the most critical dimensions of the crowdfunding lifecycle: what happens post-raise? We explored how we can collectively build more robust and realistic pathways for liquidity and value realization for founders, investors, and communities alike.
The panel highlighted some fascinating tensions in the exit conversation. Guy Kawasaki’s advice about avoiding early exit talk contrasted with others advocating to “begin with the end in mind.” There was universal agreement, however, on the importance of protecting company culture during exits – with B Corps specifically using legal “poison pills” to deter buyers misaligned with their mission.
One key insight that emerged was the risk of overvaluation traps that limit future funding and acquisitions. As we continue to develop the crowdfunding ecosystem, creating balanced, realistic valuation frameworks will be crucial for long-term sustainability.
The Trust Factor: Transparency and Education
A clear theme throughout SuperCrowd LA was the critical importance of building trust with retail investors. Platform representatives shared that conversion rates typically hover around 5-12% of registered users – indicating both the current state of investor engagement and the potential for growth. These metrics suggest that while we’ve built the foundations, there’s meaningful opportunity to enhance investor confidence and education, potentially unlocking significant additional capital flow.
Dr. Canaan Van Williams from Proactive Real Estate Group provided a compelling case study in investor engagement. Their approach of bringing investors onsite, giving tours, answering every question, and maintaining transparent communication helped them achieve an impressive 100% rent collection even during COVID – building investor trust through demonstrable results rather than promises.
This hands-on, relationship-driven approach stands in stark contrast to the often-impersonal nature of online investment platforms, suggesting that the human element remains crucial even as we digitize and scale the investment process.
Alternative Investment Structures
Justin Renfro from WeFunder shared valuable insights about revenue-sharing models, which are gaining traction as alternatives to traditional equity. He explained that many founders default to SAFE notes without exploring potentially better options – particularly for businesses that aren’t targeting hypergrowth trajectories.
Jenny Kassan emphasized that deal structures should align with business goals and values. For example, cooperatives should avoid typical investor voting rights that might undermine their member-ownership model. This customization allows for mission alignment without forcing founders to compromise their vision.
The emergence of these alternative structures represents a maturation of our industry – moving beyond simplistic one-size-fits-all approaches toward more nuanced, fit-for-purpose investment vehicles.
Impact Integration: Purpose and Profit
Perhaps the most inspiring aspect of SuperCrowd LA was witnessing how thoroughly ESG (Environmental, Social, Governance) principles have become integrated into the conversation.
Greg Brodsky session on redefining corporate purpose traced this evolution, connecting it directly to governance innovations like B Corps. He explained how these structures emerged specifically to solve problems like what happened when “Ben & Jerry’s was bought by Unilever and they lost much of their original mission” because Unilever had no corporate responsibility to maintain those values.
Brian Christie tracked the paradigm shift away from Milton Friedman’s 1970 NYT article that established shareholder primacy, noting how even the Business Roundtable CEOs now advocate for stakeholder approaches that serve employees, customers, and communities – not just shareholders.
This transition from a single-bottom-line focus to a more holistic view of business success represents a fundamental shift that aligns perfectly with what we’re building at GECA.
Building Community, Not Just Platforms
One of the most powerful case studies presented at the event came from Sarah Hardwick, who was formerly CMO of Aptera. Their solar EV campaign leveraged an ambassador program with 800+ global volunteers to build momentum, focusing on emotional connection rather than just technical specifications.
Aptera’s approach was deeply instructive. They provided ownership to their community through business cards and direct tasks, segmented ambassadors into specialized committees, and offered inside access through webinars and tours. Their ambassadors became their first line of defense against online criticism and their most powerful marketing force.
The results speak for themselves: $30M+ raised in under six months,($140M to date), driven not by massive ad spend but by authentic community engagement. This human-centered approach demonstrates that successful fundraising isn’t just about technology – it’s about movement building.
The Market Reality: Campaigns and Marketing
The insights about marketing requirements provided practical guidance for founders. Industry leaders noted that campaigns targeting $1M typically allocate around $15K weekly for marketing – an important planning consideration that many entrepreneurs benefit from understanding early in their journey. These benchmarks help set realistic expectations and demonstrate the professional approach required for successful campaigns in today’s environment.
Jason from DNA emphasized the importance of generating sufficient traffic, noting that a 2% conversion rate is typical. This means raising $1M requires around 50,000 site visits, while a $5M raise demands approximately 250,000 visits and 15 million impressions.
These practical benchmarks provide important guidance for realistic campaign planning and expose the myth that platforms themselves will automatically deliver investors. As one panelist put it: “Platforms like StartEngine don’t automatically deliver investors” – the work of building an audience remains firmly with the founder team.
Connections That Matter
Throughout the event, I had the chance to engage with so many bright minds, including Jason Fishman, whose deep expertise in campaign strategy continues to elevate what’s possible in retail investing; Sarah Hardwick, whose clarity and purpose-driven approach stood out in every conversation; and one of my fellow panelists, Alexandria Fisher, CEO & CCO at Netcapital Securities Inc, whose energy and thoughtful engagement were refreshing and impactful.
It was also a pleasure to meet so many members of the CfPA (Crowdfunding Professional Association) board, whose leadership continues to shape the U.S. crowdfunding landscape in important ways. I especially appreciated the opportunity to have a meaningful conversation with CfPA president Jenny Kassan, whose legal and policy expertise is matched by her long-standing commitment to inclusive capital.
CfPA have recently become GECA supporters, and I’m excited about building a closer strategic relationship between our organizations as we align on shared objectives and explore ways to collaborate across borders and sectors.
Looking Forward: The Road Ahead
As I reflect on SuperCrowd LA, I see a movement coming of age. The event demonstrated a clear industry desire to overcome fragmentation and build more connected, interoperable ecosystems – exactly what GECA is working to create.
The data points, case studies, and expert insights shared throughout the event validate our vision of a globally connected equity crowdfunding ecosystem. We’re seeing increasing recognition that the path forward requires better standardization, cross-platform collaboration, and infrastructure that reduces friction while preserving platform uniqueness.
What gives me confidence in our industry’s trajectory is the combination of dedicated people and evolving technology solutions I witnessed at SuperCrowd. The founders, marketers, platform builders, and investors represent a community committed to making equity crowdfunding work better for everyone. Their expertise, when supported by improved infrastructure and collaborative frameworks like those GECA is developing, positions us well to address current challenges and build a more connected ecosystem.
What excites me most is seeing how concepts that once seemed radical – like standardized due diligence, portable investor verification, and cross-border deal flow – are now being actively discussed and demanded by industry leaders.
A heartfelt thank you to the SuperCrowd team for creating such a thoughtful and high-impact space. Events like this are where real progress begins – through connection, conversation, and a shared commitment to changing the way capital works.
If we met in LA, thank you for the insight and inspiration. And if we didn’t, let’s connect soon! This movement thrives when we build together.
Onward and upward!
Andy Field
GECA Steering Committee Lead
