Project, team and concept seem legit and knowledgeable. I've been thinking that something like this will come along eventually and was actually excited by the concept.
I do have a concern that didn't quite make sense, and honestly deflated my overall enthusiasm*. They stated in there recent blog post: "... While anyone can buy onto the platform with the utility token, qualification for SUN tokens will take place on a case-by-case basis,..." (https://swarm.fund/blog/swarmfund/decentralized-access-to-high-return-alternative-investments/)
So how the average small(er) investor will benefit by only being a "platform member" is a little unclear - if unable to directly invest into the projects, via being an token holder. You get in, but can't invest in anything unless you meet req's. to get SUN?
Maybe this could be elaborated more in the FAQ? As of now, it only seems to be addressing what seems to be the SUN token in the FAQ (https://swarm.fund/faq#faq19) Correct me if I'm wrong .
Either way, I'm sure there are enough people who will qualify, if that's how it works, to make the projected cap, but clarification of the details of exactly how the investors of the Swarm Token would be profiting, from investing in only the token, would be helpful insights. There's some tech specs in the whitepaper if you read that, but in plain English, for the rest of us, would be preferred.
If you have a different understanding or want to point something out I missed, I'd love to hear it.
*Again, the concept of the project does sound exciting and will probably work. I'll be putting a few ETH into the ICO to see how it works out... (If it were clearer on how investing will work, besides the second part = "SUN" token, I'd put more).
They've covered their bases with all current regulations, and have been working on it for over a year, so isn't just another whitepaper dream.
Good luck to them (and me) and I'll update this if/when I find out more about these concerns.
Peace!