Eric Arsenault pfp

Eric Arsenault

@erico

409 Following
266 Followers


Eric Arsenault pfp
Eric Arsenault
@erico
😂 no way
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Eric Arsenault pfp
Eric Arsenault
@erico
I have not used a single “use AI for this✨” button that doesn’t suck
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Eric Arsenault
@erico
Happy to chat @raihan! We’ve been building a web3 AngelList alternative
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Eric Arsenault pfp
Eric Arsenault
@erico
Thanks @loverajoel 🙌
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Eric Arsenault pfp
Eric Arsenault
@erico
Yes, this is crypto
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Eric Arsenault pfp
Eric Arsenault
@erico
Not sure I understand your question. What we are trying to do at venture club is make early financing more transparent, accessible, meritocratic
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Eric Arsenault pfp
Eric Arsenault
@erico
A DAO with a legal entity still requires legal mumbo jumbo 🙃
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Eric Arsenault
@erico
Agreed, but most projects / founders have legal entities / contracts
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Eric Arsenault
@erico
Okay, we updated the Invest frames to include this information. Thanks again! Balancing smooth UX and information overload isn’t always the easiest.
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Nick pfp
Nick
@nintynick.eth
run your next fundraise in a frame
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Idan Levin 🎩 pfp
Idan Levin 🎩
@idanlevin
This is how bull markets start
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Eric Arsenault pfp
Eric Arsenault
@erico
It’s a 506c raise, so there are limitations on who can invest. The frame is a non custodial escrow, the investment can only be finalized after KYC and accreditation check
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Eric Arsenault
@erico
Just went through this process, wasn’t too bad!
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Eric Arsenault
@erico
Nice! Looking forward to it
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Eric Arsenault pfp
Eric Arsenault
@erico
Legal wrappers are created behind the scene, then that legal wrapper invests in the investment instrument sold. Technically, it's a 506c raise, so US investors need to be accredited.
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Eric Arsenault pfp
Eric Arsenault
@erico
Big fan of what you guys are building! Would love to chat.
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Eric Arsenault pfp
Eric Arsenault
@erico
docs.ventureclub.club has more info, tldr is we use a similar legal structure as AngelList (a LLC invests in the project). Assets belong to LLC members, if Venture Club were to disappear, asset owners would still own the LLC and could decide to keep the asset there or move it somewhere else if they want.
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Eric Arsenault pfp
Eric Arsenault
@erico
Ok sure, we can add it here, thanks for the suggestion.
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Eric Arsenault pfp
Eric Arsenault
@erico
It’s on the first frame, as well as the second frame (if you Learn More)… and on the deck, and on our docs. Literally everywhere, to make sure people understand. Where else would you want it??
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Eric Arsenault pfp
Eric Arsenault
@erico
Thanks Jason 🙌
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