????按照互聯網標準，眾籌已存在很長一段時間了。利用網絡社區進行籌資的理念1997年開始流行起來，當時英國搖滾樂隊Marillion的粉絲們籌集了60,000美元，資助該樂隊進行了一次美國巡演。此后， Kickstarter這類眾籌網站可以為各種各樣的事情籌資，從開設博客到服裝設計公司，再到拍攝獨立影片，幾乎無所不包。如今，投資公司也加入到了這個行列。

????就在周一，奧克蘭的一家初創公司Mosaic宣布，將面向全美在線籌集資金，為屋頂太陽能系統項目提供資金。在某種意義上，這是第一家眾籌綠色投資公司。聯合創始人比利?帕瑞詩稱：“我們正在打造一個全新的平臺，讓普通人可以從清潔能源革命中獲益。”比利先前曾創立讓年輕人參與清潔能源和氣候解決方案的非營利組織能源行動聯盟（Energy Action Coalition）。

????Mosaic承諾每位投資者獲得投資回報，通常情況下，5年回報率為4%至6%。迄今為止，Mosaic已從400名個人投資者手中籌集了110萬美元，用于12個項目的太陽能系統安裝。其中包括一個4萬美元系統，安裝在一家奧克蘭非營利組織青年就業伙伴（Youth Employment Partnership）的建筑物上。Mosaic抽取籌集資金的1%作為管理費，投資者獲得固定回報。

????除了通過網絡籌集的資金，這家成立兩年的公司已從舊金山風投Spring Venture的蘇尼爾?保羅和其他投資者處獲得了340萬美元的資金。2012年6月，Mosaic還從美國能源部（Department of Energy）獲得了200萬美元的撥款。現在，這家公司希望擴展規模。但有一個問題：美國證券交易委員會（Securities and Exchange Commission，簡稱SEC）。Mosaic向認識的個人和團體募集少量資金是一碼事，通過互聯網向公眾兜售數億股權則是另一碼事。

????為了幫助企業創造就業，美國國會在《創業企業融資法案》（JOBS ACT）中專門對“云融資網站”做出規定。2012年4月，美國總統奧巴馬簽署了《創業企業融資法案》，并要求SEC在最后期限前制定出相關條例和指引，以保護那些希望投資Mosaic這類在線融資項目的投資者。然而，到目前為止，SEC尚未發布相關條例。

????而Mosaic已利用美國各州的證券法規，繞過了SEC。現在，該公司可以將投資賣給加州和紐約州的任何人。在其他州，投資者須“擁有良好資質”，意味著投資者必須擁有高資產凈值和收入要求。（除個人房產外，資產凈值超過100萬美元，而且年收入超過20萬美元。）如果SEC最終批準云融資門戶網站，像Mosaic這樣的投資公司將無需在每個州分別注冊就能夠獲準在全美籌集資金。

????如果云融資能夠獲得批準，它最終可能顛覆至今一直為大銀行所掌控的融資模式。“我們喜歡分散投資，”帕瑞詩說。“個人可以直接投資清潔能源項目，并獲得好的回報。”因此，將來投資者不用再把錢投資股市，可以投資像Mosaic這樣的公司。而且，幫助這個世界變得更清潔還能讓人自我感覺良好。

????By Internet standards, crowdfunding has been around forever. The idea to tap into online communities to raise money first became popular in 1997, when fans of the British rock groupMarillion raised $60,000 to fund a U.S. tour for the band. Since then crowdfunding sites such as Kickstarterhave been used to raise money for everything from blogs to clothing design companies and independent films. Now investment firms are getting into the act.

????Today Mosaic, an Oakland startup, announced that it is going national in its effort to raise money from online investors to fund rooftop solar systems. It is, in a sense, the first crowdfunded green investment firm. Says Co-founder Billy Parish, who previously had launched the Energy Action Coalition, a non-profit that gets youth involved in clean energy and climate solutions, "We're creating a new platform where people can profit from the clean energy revolution."

????Each investor in Mosaic is promised a return on his or her investment, typically around 4% to 6% a year over 5 years. So far Mosaic has raised $1.1 million from 400 individuals to fund the installation of solar systems on twelve projects including a $40,000 system on a building housing an Oakland non-profit called the Youth Employment Partnership. Mosaic keeps a fee of 1% of the money raised, and its investors get a fixed return.

????The two year-old company, which in addition to the money it has raised online, has received $3.4 million in seed money from San Francisco-based venture capitalist Sunil Paul of Spring Venture as well as others. Mosaic also got a $2 million Department of Energy grant in June 2012. Now it wants to scale. But there's a problem: the Securities and Exchange Commission. It's one thing to solicit small amounts of money from individuals and groups Mosaic knew. It's another to start peddling hundreds of millions in equity to the general public over the Internet.

????Wanting to help entrepreneurs create jobs, Congress as part of the JOBS ACT created a provision for "cloud funding portals." President Obama signed it into law in April of 2012 and gave the SEC a deadline to create rules and guidelines to protect investors who want to invest in online outfits like Mosaic. The SEC has yet to issue their regulations.

????In the meantime Mosaic has done an end run around the SEC by working with state securities laws. It can now offer its investment to anyone in California or New York. In the other states, investors have to be "accredited" which means hefty net worth and income requirements. (A net worth of over $1 million excluding one's house and an annual income of over $200,000.) If the SEC eventually approves cloud funding portals, investment companies like Mosaic could go national without registering in each state.

????If cloud funding gets the green light, it could eventually disrupt a financing model that so far has been the purview of big banks. "We like decentralized investing, says Parish, "Individuals can directly invest in clean energy projects and get a great return." So instead of putting money in the stock market, you'll be able to invest in companies like Mosaic and maybe even feel good about making the world a bit cleaner.