Back in 2017, Propel(x) started offering syndicates to our 4,000+ community of accredited investors. As we’ve grown, it was only natural to expand further and build our SPVs platform with syndicator needs in mind. Today, we’re proud to serve a number of marquee syndicators through this platform.
I joined Propel(x) to lead the SPVs platform and brought over nearly two-and-a-half decades of experience in banking, IT, education and edtech. Leading our SPVs initiative has taught me one key lesson: our foundation is trust. As syndicators and investors, you place immense trust in us to support your investment objectives. And in a services business, trust cannot exist without a relationship.
That is exactly why we’re launching this weekly newsletter. While it takes the form of a newsletter, the intent is deeper – build a relationship to open dialogue, understand your needs, and respond to them as quickly as you articulate them.
Of course, it doesn’t have to be all-work-and-no-play; we’re not building a “Dull Boy” club here, are we? Investing and syndication are serious matters, but that doesn’t mean we can’t share a chuckle. So every now and then, I will include in the newsletter The SyndiCat – a peep into the lighter side of these serious matters!
I look forward to your feedback and support. Please write in with suggestions on the topics you’d like me to cover. You can connect with me on LinkedIn and read my blogs at our website and Substack. You could also book a call with me on my Calendly if you’re looking to create SPVs.
Juliet questioned the significance of Romeo’s family name, arguing that if she called him by any other name, he would still be the same person she loves. That was Shakespeare… but Delaware state thinks differently.
A DE series LLC recently sought our help to create a new bank account for distribution. They were stuck because its name did not follow the naming conventions laid out by the DE Division of Corporations for series operating under DE masters.
DE needs a series LLC to be identifiable (with its master) and unique. For identifiability, it stipulates the series name always start with the Master name. And for uniqueness, the master name should be appended by a unique identifier.
E.g. For a master LLC called Propelx LLC, a series may be named
- Propelx LLC Series 1 or
- Propelx LLC Alpha Series
But it may not be named
- Series 1 Propelx LLC (master name is suffixed, not prefixed) or
- Propelx, LLC Series 1 (note the extra comma “,”) or
- Propelx Series 1 LLC (Can not split master name, not even the “LLC”)
This is a small detail but helps you avoid a big surprise (of the not-so-nice type) later.
Let switch off this week’s SPV Spotlight on a lighter note with The SyndiCat!
If you’ve enjoyed this edition of SPV Spotlight, I would love for you to stay connected.
After all, the best ideas and the best opportunities are built when we grow together.
Cheers!
