How to subscribe to a deal
From opening a deal card to signing subscription documents and wiring funds — what happens at each step and what sets the timing.
The short answer
You open the deal card for a company, read the deal memo and the SPV documents, state the amount you want, sign the subscription documents electronically, and wire funds to the SPV before the date the card gives you. The position appears in your portfolio once the deal closes — which is not the same day you sign. Signing is minutes; the wire is on your bank’s clock; closing is on the date in the documents.
What has to be true first
Your account is open and your accreditation is confirmed — the deal list is closed until both are. You have read the deal memo and the SPV documents for that specific deal. Every number that matters to you personally is in them. You can move the money within the window the deal card states. A subscription you cannot fund is worse than one you did not sign.
Six steps, from the deal card to the position
Open Deals. Each company has a card: what the company does, the terms of the SPV, the documents, and the dates. Read the deal memo and the SPV documents. Entry price, minimum, fees and timing are stated there for that deal — they differ between deals, which is why no page on this site quotes them for all of them. Tap to participate and enter your amount. The minimum that applies is shown on the card before you confirm. Sign the subscription documents electronically. This is the point at which you have made a commitment.
What sets the clock
Signing Minutes. It is an electronic signature inside the app. The transfer Your bank’s timetable, not ours. International wires are the slow part; start early in the window rather than at the end of it. Closing The date stated on the deal card. It can move with the pace at which the allocation fills, and any change is communicated in the app. What you are signing for You are subscribing for an interest in an SPV, not for shares in the company, and that interest is generally not transferable before a liquidity event. Read what an SPV is and how an exit works before the first one, not after.
What next
Once the deal closes, everything about the position lives in the portfolio: valuation history, documents, and notices when something happens at the company. How to track your portfolio and reporting.