RCIF II - Five bullet Friday - Issue # 33

Hi Bhoopathy Garu,

 

Our Crypto Savings Note is offered at 18% per annum, paid on monthly basis.

 

We reached the legal limit of 99 investors in the Rose City Income fund 1. That fund is closed for new investors. We have launched a new and improved version which is more hedged to the volatility of the crypto asset market.  You can see our subscription document for Rose City Income Fund II attached . Our fund administrator is Intertrust group (www.intertrustgroup.com), which administers close to $500 billion. Our legal counsel is Seward & Kissel ( www.sewkis.com ). If you are interested in investing via Crypto Savings note, I attached the format of an executed promissory note.One of our portfolio holdings, $YFI token is expected to launch their version 2 protocol this month. Similarly, Synthetix is also expected to launch futures on their platform this month. We have a number of positive catalysts that are just around the corner. We have been consistently able to generate 44% yield from our investments, as seen in our Retained earnings. This is a great time for new investors to enter the crypto asset market.

Due to the remarkable growth of our fund, it has recently undergone some developments to help accommodate and service our partners at a better rate. The major development being accepting a minimum of $1 Million as an entry level investment in RCIF II. This is primarily because of the excessive demand and limited slots available, and doing so will allow the fund to grow at an appreciable rate as was seen till now. A lot of our future investors who are family, friends and relatives of our current partners were a little disheartened to hear this, but considering this fact, we value all our investors equally and regardless want to provide an opportunity for each one of them to grow.

 Sam and I had been brainstorming this aspect for a while and due to the sudden increase in incoming investors and support towards a smaller initial capital, we have decided to move forward with a new venture, created specifically for these investors.We have Seneca Ventures LLC ( SVL) and this LLC will take one slot in the fund and we intend to onboard all the new investors who come with an investment less than $1 Million through SVL . Basically SVL will provide all the services which the current fund admin/ management is providing with a 0.41667% management fee on NAV per month which will be spent on engaging a professional CPA firm for the required services.  All the required documents pertaining to SVL will be transparently shared with the investors.

 Some of the services SVL will provide to the investor but not limited to are highlighted below:

1. A monthly statement issued by fund admin to the SVL will be shared with all the investors
2. SVL will facilitate the dividend distributions amongst all partners on a monthly basis
3. SVL will receive the fund admin statement and split it amongst all the partners in accordance with the high-watermark rules within 5 business days
4. Since SVL is investing in an open ended fund, we might have new investors joining the fund and the equity has to be rebased accordingly and updated on a regular basis
5. SVL will receive a Schedule K-1 for the RCIF II. It will be divided amongst all the partners with the help of our CPA firm and distribute Schedule K-1 to all partners

6. Accounting and tax filing of SVL is done to carry the LLC operations forward, irrespective of one continuing to stay in the fund or redeeming from the fund, this will allow other investors to continue and new investors to join.

Hope this is an amicable solution we can provide at this juncture facilitating prospective investors into this booming asset class. Find the attachments to move forward.

1. Subscription Document
2. Operating Agreement
3. Kyc/ Client background verification checklist

4. Bank details for the funds transfer. 

Thanks & Regards

Ravishankar Avadhanam

Director of Business Development & Operations

Ph:630-536-4115

www.rosecityfund.com

Please use my calendar for scheduling meetings

https://calendly.com/ravi-69