Post by conflict on Jan 26, 2019 21:49:00 GMT 4
Funders Club got around the US registration requirements under the following terms
1. FundersClub advises and manages only venture capital funds;
2. FundersClub receives compensation (i.e., carried interest) for its services, the nature of which is traditional advisory and consulting services, and not transaction-based compensation;3. Officers, directors, and employees of FundersClub personally do not receive transaction-based compensation for their efforts in raising investment funds;
4. Full and fair disclosure is made to investors about FundersClub's compensation and fees;
5. FundersClub does not receive the administrative fees, and any remainder is distributed to investors;
6. FundersClub is unable to withdraw any deposited funds from the custody account for its own use; and
7. Neither FundersClub nor any subsidiary, principal, employee, board member, controlling shareholder, or other associated persons are subject to "bad actor" disqualification.