Propel(x) is a Franklin Templeton Evo Nexus Incubator Portfolio Company
HUBBLE INVESTMENTS LLC
FORM CRS CUSTOMER RELATIONSHIP SUMMARY June 9, 2022
INTRODUCTION
Hubble Investments LLC (Hubble) is registered with the Securities and Exchange Commission (SEC) as a broker-dealer and is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Brokerage and investment advisory services and fees differ and it is important for you to understand these differences. Free and simple tools are available to research firms and financial professionals at Investor.gov/CRS, which also provides educational materials about broker- dealers, investment advisers, and investing.
Hubble’s parent company Propel(x) is an investment platform that enables accredited investors to invest in privately held startups. Propel(x) collects and provides information on the private placements that will become available if there is enough interest among accredited investors for the deal to close and become an offering of Hubble.
WHAT INVESTMENT SERVICES AND ADVICE CAN YOU PROVIDE ME?
We offer brokerage services on private placements for accredited and institutional investors only. Hubble does not offer any other investment products or services. Hubble does at times provide recommendations but does not provide ongoing advice regarding the private placements. Accredited investors can invest as little as $5,000 into a new offering as part of a syndicate which is a pool of investors. Direct investment minimums are $25,000. We do not set maximum investment limits.
Hubble Investments will perform additional due diligence on the offering, focusing on business, financial and organizational claims of the Startup. Only investments that pass this “Broker Review” and that have received sufficient investor interest will close. A summary of the outcomes will be made available to interested investors to inform their investment decision. For additional information: propelx.com.
CONVERSATION STARTERS. Ask your financial professional—
WHAT FEES WILL I PAY?
Direct Investments are subject to a one-time 2% platform fee. Syndicate Investments are subject to a one- time pro-rated syndicate formation fee. This fee can vary depending on the deal, the number of people investing and state filing costs. Hubble reserves the right to waive or amend investor fees on a case by case basis at its own discretion. If the investment generates a return, the Syndicate will pay a carry upon exit to Propel(x) Advisors LLC, a subsidiary wholly owned by Propel(x) Inc and registered as a venture capital firm in California.
You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying. For additional information, please see propelx.com
CONVERSATION STARTERS. Ask your financial Professional-
WHAT ARE YOUR LEGAL OBLIGATION TO ME WHEN PROVIDING RECCOMENDATIONS?
When we provide you with a recommendation, we have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. You should understand and ask us about these conflicts because they affect the recommendations, we provide you. Here are some examples to help you understand what this means.
HOW ELSE DOES YOUR FIRM MAKE MONEY AND WHAT CONFLICTS OF INTEREST DO YOU HAVE?
Hubble receives from the Issuer a transaction fee of 8% of the value of Securities sold by Hubble in the Offering, if the amount sold is less than $200,000, or 5% of the value of Securities sold by Hubble in the Offering if the amount sold is equal to or greater than $200,000. Additionally, Hubble, collectively and with its associated persons, shall receive from the Investors purchasing the Securities in the Offering fees as described above. One-time Platform Fee of 2% on Direct investments will be charged in addition to the investment and will not be deducted from the total investment amount. Fees paid by syndicate members will be deducted from the total investment amount. Hubble also receives a portion of the carried interest (similar to a performance fee) if/when there is an exit event for their investment. Hubble occasionally works on a retainer basis with organizations to help direct deal flow.
Hubble’s affiliate Propel(x) Advisors manages a venture capital fund “the Newton Fund and also some of our older syndicates (older than Nov 2020). Newton fund invests in many of the same private placements that are offered to investors. Investors should be aware that the firm, its employees or its affiliated fund may also participate in a deal. Another affiliate is Planck Fund Management Corporation, which administers and manages our newer syndicates (Nov 2020 and later).
CONVERSATION STARTERS. Ask your financial Professional-
HOW DO YOUR FINANCIAL PROFESSIONAL MAKE MONEY?
Our financial professionals are paid a salary and do not receive commissions or compensation based on the volume of deals placed.
CONVERSATION STARTERS. Ask your financial Professional-
DO YOUR FINANCIAL PROFESSIONALS HAVE ANY LEGAL OR DISCIPLINARY HISTORY?
No, neither the firm nor any of its registered representatives have any disciplinary history. Information on the representatives can be found on https://brokercheck.finra.org/. Additional information on our professionals can be found at: Propelx.com.
ADDITIONAL INFORMATION
To receive additional information about Hubble and to request a free copy of this Form CRS as well as to request any up to date information, please call us at 415.935.0554 or Email us at: info@propelx.com or Visit our website at: propelx.com/conversationstarters
CONVERSATION STARTERS. Ask your financial Professional-
Propel(x) is a Franklin Templeton Evo Nexus Incubator Portfolio Company
This site is operated 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. All securities posted here are being offered by, and all information included on this site is the responsibility of, the applicable issuer of such securities. Propel(x) has not taken steps to verify the adequacy, accuracy, or completeness of the information. Neither Propel(x) nor any of its officers, directors, agents and employees makes any warranty, express or implied, of any kind related to the adequacy, accuracy or completeness of any information on this site or the use of information on this site. By accessing this site and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy.
Certain offerings posted on the platform and so designated are offered by Hubble Investments, Member FINRA / SIPC and a fully-owned affiliate of Propel(x), located at 1 Franklin Parkway, Bldg # 930/1 – Fintech Suite, San Mateo CA 94403. Hubble Investments does not make investment recommendations and no communication, through this website or in any other medium should be construed as a recommendation for any security offered on or off this investment platform. This website is intended solely for qualified investors. Private investments are highly illiquid and risky and are not suitable for all investors. Investments in early-stage private companies should only be part of your overall investment portfolio. Furthermore, the allocation to this asset sub-class may be best fulfilled through a balanced portfolio of different start-ups. Investments in startups are highly illiquid and those investors who cannot hold an investment for the long term (at least 5-7 years) should not invest.
©2023 Propel(x). All rights reserved. Various trademarks held by their respective owners.
