- Accredited investor
- An investor meeting the income, net-worth, licence or entity tests of Rule 501 of Regulation D.
- ATS
- Alternative trading system — an SEC-regulated venue for matching buyers and sellers of securities.
- Channel revenue
- All revenue a creator channel earns: ad share, subscriptions, sponsorships, licensing, products.
- Channel Revenue Token (CRT)
- A security representing a participation in a creator's channel revenue, on tokenized rails.
- DPI
- Distributions to paid-in capital — cumulative cash returned per dollar invested.
- Entry multiple
- Purchase price ÷ annual participation revenue. Its inverse is the gross entry yield.
- Gate
- A limit on repurchases during a specified period. The offering documents define the base, allocation of requests and treatment of requests that cannot be met.
- Net LP cash yield
- Annual cash distributed to LPs ÷ capital, after all fees.
- Permanent capital vehicle
- An evergreen fund with no fixed term and no forced exits.
- Reg CF
- Regulation Crowdfunding — public offerings up to $5M a year through a registered funding portal.
- Reg D · Rule 506(c)
- Offering exemption permitting general solicitation when all purchasers are accredited investors and the issuer takes reasonable steps to verify their status.
- Tender offer
- After a 36-month lock-up, investors may request repurchase through quarterly tenders, subject to limits, an audit holdback and the offering documents. A request does not guarantee payment or timing.
- Tokenization
- Recording ownership of a security on a distributed ledger for issuance, transfer and distribution.
- Tokenized RWA
- A real-world asset represented as a digital security; cash flows come from the asset.
- TVPI
- Total value to paid-in capital — cash distributed plus residual NAV, per dollar invested.
- Yield bridge
- An explanation of gross position income, fee bases and net LP cash yield. Fees assessed on revenue and NAV cannot simply be subtracted as percentage points of yield.