3 ms·

Thank you very much for elaborating! I wasn't very clear on my previous comment, but I meant that one you said "check your investors are accredited", you were

by aquins 8y ago

Thank you very much for elaborating! I wasn't very clear on my previous comment, but I meant that one you said "check your investors are accredited", you were referring to the VC as the investor, and not the individuals investing the money, right? So how can I check if our US-based VC is accredited? Also, we also have a maximum limit, so this seems to be a very comparable set up as you had. So presumably, the VC "pre-checked" with their high net individuals if they were interested, prepared a proposal and would want to continue with the pitch if we agree. And if successful, proceed with the financing. So do I correctly understand that you also never knew who the individuals behind the VC were, as the VC represented them at all times?

neom 8y ago
You ask them, although it's usually a bullet point in a mutual diligence, our lawyer has a form their lawyers sign that attests to a bunch of SEC stuff. As a side note, I've actually been told in the past by a very large VC firm it was rude to ask, I presume at a certain point it's assumed. I also don't think you would/could ask the investor if their LPs are accredited investors, I certainly have not nor have I ever heard of it, but IANAL. I can recommend my lawyer however, Adam Bier out of SF.