Quote from: Marina_T on April 03, 2017, 04:12:09 PM

Quote from: kmb448 on April 03, 2017, 03:50:06 PM

We're all looking forward to the memorandum later on today. As always thanks for all the correspondence thus far. I did have another question after discussing some risk elements with a few of my friends/colleagues. Hate to skeptically poke and prod once again, but really need to be clear on this: We saw the minimum lock-in time before liquidation for world investors is 40 days while US investors have a minimum lock-in period of 1 year. So if the fund for any reason started tanking, or alternatively if it took off to a point where we'd feel motivated to trim off some profit and trade the token, we from US soil would be asymmetrically disadvantaged by remaining locked-in while offshore investors can do what they please or could totally bottom the fund out if decided upon exiting en masse? I understand that one upside to minimum lock-in periods is fostering long term oriented investments based on faith in the quality of assets, and avoiding pure profiteering, but need to understand why there is such a skewed difference between US and non-US investors, as well as what your motivations are behind that. Additionally understand that the crowdfunding only consists of $10 million USD while there is another larger $40 million USD accounted for by traditional investors - who are these traditional investors and do they have a lock-in time similar or longer than a year which would tremendously mitigate this risk? That would make a difference. If you can give me a reasonable justification for why this exists I will rest easier with deciding on my prospective investment.

KB

Dear KB - thank you for your interest. The need for the 1 year lock-up for US investors is to do with US securities laws. There is not much we can do around that unfortunately.

The investors in the traditional LP fund are locked in for the whole period of the fund, which is not confirmed yet, but could be around 7-10 years in line with other venture capital funds. LPs in the traditional fund do not have liquidity at all unlike token holders.

I hope you still like the project and would be interested to invest.

Marina,

Much appreciated. That's a big confidence booster knowing the LP's are committed long term and represent the majority stake of the fund. I figured that the reason was regulatory in nature. Still like the project.

kmb448

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