Special Purpose Vehicle (SPV) As A Service
For those of you who regularly invest via special purpose vehicles, you may have heard that Assure Services, one of the largest SPV providers in the United States, decided to wind down operations and will no longer support its customers. We are sorry this happened, especially just before the holidays and towards the year end. We are here to help in whatever way you need to make your life easier. Below are some highlights from our SPV offering.
Propel(x) SPV Highlights
- Dedicated Master LLC for every syndicator to hold only your SPVs
- Dedicated Bank account with dual signature authority
- Low costs
$8,200 for a transitioned SPV for 10 years*
$7,500 for a new SPV for 10 years* - $500 per year to maintain a dedicated Master LLC
- Pay only for what you use - we will return $600 per un-used year
- Highly compliant and experienced team and platform
* some additional costs may apply e.g. accredited investor checks etc.
WHAT IS BEING OFFERED?
We are an alternatives investment management platform and have been managing SPV syndicates in-house via our wholly owned subsidiary Planck Fund Management Corporation (PFMC).
We are now offering our SPV Management services to others who are looking to transition away from their current
service provider or create new SPVs.
TRANSITIONING AN EXISTING SPV
If you are transitioning away from your current service provider, we offer the below services:
- Facilitate Transition
- Consolidate and store your records in compliance with SEC Rule 17a-4
- Prepare and file all future tax returns, send K1s to all members
- Make distributions and wind-down when there is a liquidity event
- ERA registration and Form ADV filings
NEW SPVs
We welcome you to create new SPVs on the Propel(x) platform. Our platform enables the below services:
- Stage your deal on the Propel(x) platform
- Invite investors to your deal*
- Investors can complete the entire transaction via our platform including : KYC / AML, Investment document signatures, Funds transfers and Accreditation checks
- All tax documents will be distributed electronically via the platform
*Soliciting investors in exchange for a management fee or carried interest may require you to be registered as an Investment Advisor or Exempt Reporting Advisor. Please consult your legal counsel on this matter.
WHY US?
BEEN THERE, DONE THAT
That's right. We transitioned out from Assure in 2020 to increase transparency, efficiency, accuracy, and compliance, while providing best in class customer service. In this process, we built out our own reliable SPV business. We have been where you are today and believe there is no one better than us to help you navigate the complexities around SPV migration.
WE CARE
To ensure that you do not land in a situation as you are in now, we have addressed some obvious concerns upfront. We intend to keep your fees in a segregated bank account and draw them down annually to meet our expenses. This ensures that you pay only for the services you receive. Should your SPV wind up sooner than 10 years, we will refund the pro-rated share of the un-used capital.
STREAMLINED DIGITAL INFRASTRUCTURE
We are truly end-to-end and have in-house capabilities to support you across the complete lifecycle of an investment. i.e. sourcing, due diligence, structuring, portfolio monitoring and reporting. Since SPVs are only one piece of the puzzle, we encourage you to think holistically about the fragmented journey you will encounter when dealing with different providers.
FAQs
What is your pricing structure?
Please email us at spvs@propelx.com to receive detailed information for this service.
How do you stack up against current SPV providers?
Beyond the usual pricing comparisons and product features, we take pride in offering the best-in-class customer experience. Here is one of our member investors sharing his Propel(x) experience on K-1s.
I already made a decision to migrate my current SPVs. Why should I consider you?
If you have made a decision but not yet started the migration, we invite you to speak with us. There are not many fund administration providers who can offer the same level of customer care, integrated operations and team expertise like we do. In the long run, these things matter more and will impact your investment journey significantly.
Propel(x) is a digital alternative investment platform that enables accredited investors and qualified purchasers to invest in startups, venture funds and hedge funds. All securities offerings are done through either Propel(x)’s affiliated broker-dealer, Hubble Investments or Planck Fund Management Corp., a subsidiary of Propel(x).
This page has been prepared by Propel(x), Inc. (“Propel(x)” or “Company”) solely for informational and discussion purposes. No offering is being made or investment solicited via this material. This marketing material does not constitute a contract. Neither Propel(x) nor any of its affiliates provide legal or tax advice. Propel(x) and Planck Fund Management Corp. does not perform any broker-dealer duties as neither entities are registered broker-dealers.
This site is operated and maintained by Propel(x) Inc. (“Propel(x)”), which is not a registered broker dealer. Propel(x) does not give investment advice, endorsement, analysis or recommendations with respect to any securities. By accessing this site and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy.