Wisconsin Subscription Agreement - A Section 3C1 Fund
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How to fill out Subscription Agreement - A Section 3C1 Fund?
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FAQ
3C1 refers to a portion of the Investment Company Act of 1940 that allows private investment companies to be considered exceptions to certain regulations and reporting requirements stipulated by the Securities and Exchange Commission (SEC).
3C7 funds, as noted, take investments from qualified purchasers, whereas 3C1 funds work with accredited investors. 4. Investors in 3C7 funds are held to a higher wealth measure than those in 3C1 funds, which can limit the investor pool that a fund is hoping to raise money from.
Rule 3c-5(a)(4)(i) includes an ?executive officer? or person serving in a similar capacity? within the definition of ?knowledgeable employee.? Executive officer is defined in Rule 3c-5(a)(3) as the ?president, any vice president in charge of a principal business unit, division or function (such as sales, administration ...
A subscription agreement is a formal agreement between a company and an investor to buy shares of a company at an agreed-upon price. It contains all the details of such an agreement, including Outstanding Shares, Shares Ownership, and Payouts.
What does that mean? A qualified interest is basically just mortgages or leans on real estate. Meaning that if you want to file a 3(c)5 you're looking at allocating at least 55% of your portfolio directly to real estate. The remaining 45% is broken down even further into two more tiers.
Key Takeaways Private funds must not plan to issue an IPO and their investors must be qualified purchases to qualify for the 3C7 exemption. There is no maximum limit for the number of purchasers of 3C7 funds. In contrast to 3C7, 3C1 funds deal with no more than 100 accredited investors.
Section 3(c)(7) of the Investment Company Act of 1940 (the ?Investment Company Act?) excludes from regulation under the Investment Company Act entities whose outstanding securities are owned exclusively by persons who are, at the time they acquire the securities, ?qualified purchasers? (?QPs?) as defined in Section 2(a ...
For instance, a qualified purchaser is often allowed to invest in funds that are exempt from the Securities and Exchange Commission (SEC) registration under both Sections 3(c)(1) and 3(c)(7) of the Investment Company Act, whereas an accredited investor would only be allowed to invest in a Section 3(c)(1) fund.
