In Virginia, crowdfunding is governed by the Virginia Intrastate Crowdfunding Exemption (ICE) for local deals, alongside federal Regulation Crowdfunding (Reg CF) for national deals.
Unlike some states that maintain a proprietary list of “state-approved” websites, Virginia allows businesses to raise capital through three distinct channels.
1. The Three Approved Pathways in Virginia
According to the Virginia State Corporation Commission (SCC), a business can conduct a crowdfunding offering through:
- Registered Broker-Dealers: Any broker-dealer licensed to conduct securities business in the Commonwealth of Virginia.
- Federal Funding Portals: Online platforms registered with the SEC and FINRA (these typically handle Reg CF).
- Directly by the Company: Virginia is unique in that it allows the company itself to host the offering on its own website, provided it meets specific SCC disclosure and escrow requirements.
2. Major Platforms Operating in Virginia
While many national platforms host Virginia deals, the following are the most common “registered funding portals” used by Virginia entrepreneurs for equity and real estate:
| Platform | Type | Best For |
|---|---|---|
| Wefunder | Reg CF Portal | General startups and small businesses; very popular in VA. |
| StartEngine | Reg CF Portal | High-growth startups and tech ventures. |
| Republic | Reg CF Portal | Highly vetted startups and real estate. |
| Mainvest | Reg CF Portal | Brick-and-mortar local businesses (breweries, restaurants). |
| HoneyComb Credit | Reg CF Portal | Small business loans/debt crowdfunding for local shops. |