Before you publish anything
- Entity setup — legal name, jurisdiction, and the identity of the people who may act for the entity.
- KYB — the entity's verification must be approved before an offering can be published.
- Banking destination — where subscription proceeds are to be received.
- Offering documents — the memorandum, the subscription agreement, and whatever your regime requires.
Publishing an offering
An offering is created as a draft and is visible to nobody but you. Publishing moves it to open, which is the only state the marketplace shows. Closing or pausing removes it from the marketplace without deleting it or its history.
| State | Visible on the marketplace | Accepts subscriptions |
|---|---|---|
| Draft | No | No |
| Open | Yes | Yes |
| Paused | No | No |
| Closed | No | No |
The terms of a draft offering are not shown to investors anywhere, including in deal rooms. If you need to discuss an unpublished vehicle, do it without attaching the draft.
Your investor book
The book is the list of investors registered against your entity, and optionally against a specific offering. Registration in your book is what grants an investor visibility of your offering-level material — not the fact that an offering happens to be open.
Operational readiness
- Decide who on your side receives capital-call and distribution notifications.
- Agree the reporting cadence you will commit to, and check you can produce it.
- Know who, on your side, can approve a subscription and who cannot.