Securities

The Qualified Client Problem for Fund-of-Funds Managers

Crowdfunding, Funds, Investment, Investors, Securities

If you’re managing a feeder fund or fund of funds, you’ve probably spent time making sure your investors qualify under Reg D. You’ve collected investor questionnaires, reviewed accredited investor representations, and followed the subscription procedures established in your offering documents. Depending on whether you’re using Rule 506(c), you may have also completed additional investor verification.

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Single-investment feeder fund and potential investment adviser obligations

Does Managing a Single-Investment Feeder Fund Make You an Investment Adviser?

Funds, Regulation D, Securities, Syndication

You’ve identified a real estate syndication that you believe is a strong investment opportunity. You’ve reviewed the underwriting, evaluated the sponsor’s experience, examined the financing, and spent time understanding the business plan. After completing your due diligence, you’ve decided it’s a project worth bringing to your investor network to buy into the syndication. Rather than

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How Rule 506(c) and Regulation Crowdfunding can help build toward larger capital raises

How Reg D and Reg CF Can Help Build a Larger Capital-Raising Platform

Crowdfunding, Regulation D, Securities

If your long-term goal is to raise $20 million, $50 million, or even more online, it is tempting to think you need to start by building the biggest securities offering available to you. For some companies, that may be the right move. For many others, particularly those working with a limited initial budget, there is

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Regulation A real estate offering cost including legal, audit, state filing, reporting and marketing expenses

What Does a Regulation A Real Estate Offering Really Cost?

Crowdfunding, Regulation A, Securities

For the right real estate sponsor, Regulation A can create a very different capital-raising business. A Tier 2 offering can be publicly marketed, can include both accredited and qualifying non-accredited investors, and can raise up to $75 million during a 12-month period. That flexibility is attractive for sponsors who want to move beyond one-off syndications

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Regulation A Form 1-A SEC qualification process from filing to launch

The Regulation A Qualification Process: What Happens From Form 1-A to Launch

Raising Capital, Regulation A, Securities, Syndication

For a business that wants to raise capital on a much larger scale, Regulation A can change the conversation. Instead of limiting your investor base to accredited investors, Regulation A can allow you to publicly market an offering to both accredited and non-accredited investors. Under Tier 2, an issuer can raise up to $75 million

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When There Is No Property to Sell, You Have to Sell the Sponsor

Funds, Private Equity, Securities, Syndication

One of the advantages of raising capital for a real estate syndication is that the sponsor usually has something very specific to talk about. There is a property. There is a market. There is a purchase price, financing structure, rent roll, renovation plan, projected cash flow, and business plan. Investors can dig into the details

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Illustration showing a Regulation Crowdfunding offering and a Rule 506(c) offering operating side-by-side, allowing retail investors and accredited investors to support the same company through separate fundraising structures.

How Startups Are Combining Reg CF Marketing with 506(c) Capital

506(c), Funds, Real Estate, Regulation CF, Securities

Why More Founders and Sponsors Are Exploring Side-by-Side Offerings   Most founders begin the fundraising process with a fairly simple objective: raise enough capital to execute the business plan. Whether the goal is launching a startup, acquiring an asset or business, expanding a franchise, developing a real estate project, or purchasing an apartment complex, the

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When Feeder Funds Raise Investment Adviser Questions

Business, Funds, legal, Real Estate, Real Estate Transactions, Regulation D, Securities

Understanding How Your Role Changes and Why It Matters At a high level, feeder funds are not difficult to understand. Capital is raised from a group of investors, pooled into a single entity, and that entity invests into a larger syndication. From a structural standpoint, it’s a clean way to organize capital and participate in

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Illustration of feeder fund structure in a real estate syndication showing multiple investor groups pooling capital into a commercial real estate investment through feeder funds using Crowdfunding Lawyers branding.

How Feeder Funds Actually Work in a Real Estate Deals

Funds, Real Estate, Real Estate Transactions, Securities, Syndication

Practical Breakdown of Feeder Funds and Fund of Funds Structures The idea of a feeder fund can be abstract until you see how it plays out in an actual transaction. From the outside, most real estate syndications look straightforward. A sponsor finds a deal, builds a team, raises capital, and executes the business plan. That

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