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Frequently asked questions
The regulations for accredited investors vary from one jurisdiction to the other and are often defined by a local market regulator or a competent authority.
In the U.S, to be an accredited investor, a person must have an annual income exceeding $200,000 ($300,000 for joint income) for the last two years with the expectation of earning the same or a higher income in the current year. An individual must have earned income above the thresholds either alone or with a spouse over the last two years. The income test cannot be satisfied by showing one year of an individual’s income and the next two years of joint income with a spouse.
A person is also considered an accredited investor if they have a net worth exceeding $1 million, either individually or jointly with their spouse.
When the fund sells assets, the team will reinvest proceeds into other assets and likely begin returning funds to investors in years 8-10 as we begin to wind down the fund; once we begin distributions to the investor pool, the investors would be made whole on their initial investment before the 20% carry is calculated. The only time this would be done earlier is if the investor is selling their whole position (or a portion) after the one-year lockup.
After 12 months. We anticipate allowing the fund shares to trade on a secondary market in 2023, after the one-year legal lockup period and pending regulatory approval.
Collectables and cultural items will be stored with vaulting services such as Goldin or PWCC. We’ll also look at safety deposit box storage. Crypto will be held in custodial accounts and Metamask wallets. NFT assets will be held in a cold hardware wallet. Art will be stored in freeports, or we’ll work with art funds that maintain artworks. Wine and spirits will be stored in freeports, and rare books/manuscripts will be held in safety deposit box storage.
For cultural items, wine and spirits and rare books, we will use broker-obtained insurance policies. Real Estate insurance will be maintained by the property owner, adhering to all legal and regulatory approval. Art will be bought with funds that insure the pieces.