Separate Investment Fund Formation

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August 2021

Premise:

VitaDAO wants to make investments into equity of promising longevity startups because VitaDAO members get spicy deal flow.

See #dealflow channel in VitaDAO Discord.

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Problem:

DAOs that make investments controlled by members of the DAO run the risk of falling afoul of securities laws.

See the SEC’s DAO report.

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Solution:

A separately-managed investment fund, managed by selected members of the DAO, that VitaDAO invests into.

See VitaDAO-backed Investment Fund Proposal

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Illustration:

FAQ

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• Do VITA holders vote on what the fund invests into?
• No. The fund’s investment decisions are made by the managers.�
• Can the fund have investors other than VitaDAO?
• Yes. VitaDAO will be the only investor in the fund to begin with, but the fund managers can decide to open up the fund to other investors. �
• Will the fund hold VITA?
• The fund may accept part of VitaDAO’s subscription in VITA tokens. �
• Who are the fund managers?
• Qualified members of VitaDAO selected to manage the fund. �
• Are the fund managers independent?
• Yes. The fund is managed independently of VitaDAO, though the managers are members of the DAO and the fund may hold VITA, aligning incentives. �
• Where will the fund be incorporated and in what form?
• The fund should be a Wyoming LLC. See proposal.

Why a Wyoming LLC

What alternatives exist?

Next Steps

• Appoint agent(s)

More Questions?

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Discord: #legal-wg - Jesse Hudson#8458