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Subscription

The process and documents by which an investor commits to a fund, including eligibility verification and AML checks.

Subscription — The process and documents by which an investor commits to a fund, including eligibility verification and AML checks.

The subscription process is where accredited or qualified purchaser status is actually verified, AML and KYC checks are performed, and an investor is legally bound to the fund's terms — it is the operational and legal hinge point of every commitment, however informal earlier conversations may have been.

Frequently asked questions

What documents are involved in a subscription?

Typically a subscription agreement, investor questionnaire for eligibility verification, and supporting KYC and AML documentation, alongside the fund's PPM and LPA.

How long does the subscription process take?

It varies by fund and investor complexity, but institutional investors' own internal approval processes are often the longer pole, not the subscription paperwork itself.

Nothing on this page is legal, tax, or investment advice. SeRuM is not a registered broker-dealer, not a placement agent, and not an investment adviser.

Accredited investorA US investor meeting income, net worth or professional-credential thresholds under Regula Qualified purchaserA US investor meeting a higher threshold than accredited investor status, generally based PPMPrivate placement memorandum: the offering document for a private securities offering, cov

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