Reg CF
Regulation Crowdfunding — public offerings up to $5M a year through a registered funding portal.
Questions that involve Reg CF.
How does the Fund acquire CRTs?
Directly from issuers through private placements. The applicable exemption is established by each issuer’s offering documents; it is separate from the Fund’s own Rule 506(c) offering. Where an issuer runs a concurrent Regulation Crowdfunding offering of the same instrument, the Fund purchases alongside it — never through the funding portal.
How does Reg CF differ from Reg D?
Regulation Crowdfunding lets issuers raise up to $5M a year from the public through a registered funding portal, with investment limits for non-accredited investors. Regulation D offerings are private placements, chiefly to accredited investors.
Definitions are provided for reference and are not investment, legal or tax advice. Any offer is made only by the Fund's confidential Private Placement Memorandum.