Assure Labs SPVs have specific requirements in order to keep our service cost-effective. Make sure you enter these details.
If you have not already, please watch this video for start to finish instructions on creating your first deal.
When building your Assure Labs SPV in Glassboard, there are specific details you must enter to remain compliant. Please ensure you meet the below requirements.
Assure Labs Fees
All fees are taken from inside the capital committed within your SPV. This includes Assure's 1.5% fee and Blue Sky Fees.
To insure you raise the correct amount to cover all fees, it is best and most common to find a flexible investor who is willing to increase their commitment amount.
We recommend using the following formula to calculate your total raise:
(Amount to wire to the portfolio company + Blue Sky Fees + Base Rate) Divided by 0.985
Select Master / Series Structure and choose Create New Master Entity
Please use the following details to create a New Master Entity:
Master Entity Name: Assure Labs 2021, LLC
Formation Location: Delaware
Entity Type: LLC
Select an Entity Legal Name unique to your deal, following this naming convention:
[XYZ], a Series of Assure Labs 2021, LLC.
[XYZ] = the unique legal name you have selected for your deal
The Arbitration State and City are wherever you deem most appropriate. This will be the location where any arbitration might happen in the future for your SPV. Typically, the location is close to where the Organizer resides to keep legal fees at a minimum.
Organizer & Fund Manager
The Organizer will be yourself; the client of Assure. Note: the Organizer name can be modified under Settings at a later time
The Fund Manager must be: Assure Fund Management II, LLC
- Select Yes for Assure to set up the bank account. After you have completed your SPV set-up, you will receive an SS-4 document to sign for EIN and bank account to be created
- The URL/Website of the target investment (ie. portfolio company or other asset) will be required for a bank account to be created
- Any carry must be directed to the Organizer
- You must "Generate Documents" and "Approve Documents" for Assure to begin your Assure Labs SPV services