Angel investing portals and compensationBy http://profile.typepad.com/1237764140s22740 // April 4, 2013 in Angel platforms
Be sure to check out this "client alert" from the K&L Gates law firm, pertaining to the already famous FundersClub and AngelList no-action letters issued last week by the SEC.
The alert is essentially a blog post and it is authored by Rob Rosenblum, who represented AngelList in connection with its no-action letter.
Rob assesses the letters in tandem and concludes that:
"they permit platforms to use a 'venture fund' model to facilitate investments, and they permit a registered investment adviser affiliated with the platform to receive incentive compensation (that is, compensation that is paid only if the value of the investment increases), and to be reimbursed for documented expenses."
Today's picture is a detail from this morning of one of the neighborhood cherry trees I've been blogging and tweeting about this week. The blossoms have peaked and petals are starting to cushion the ground.