Introduction
Conventional fundraising and governance has undergone a sea
change over the past many decades. Starting from 1960s, REITs
gained prominence as the vehicle to provide access to an otherwise
illiquid market – real estate. With time, the wisdom of the
crowds in the financial world manifested with the emergence of
crowdfunding, which was not limited to real estate but could be
used to funnel funds for activities as diverse as raising donations
or financing a yet-to-be developed project. Not only did this
transform the entrepreneurial landscape, it also provided access to
such ideas/projects which were otherwise only available to the
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