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+420 603 865 545

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invest@ventureclub.cz

Insignia business centre

Konviktská 291/24, Praha 1

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FAQ

What is Venture Club?

We are an investment club that brings our members non-public investments, social and educational events, and the chance to be part of the birth of companies that will one day change the world. We are united by a passion for investing, good company and a focus on ethical, sustainable and profitable projects. We source, select, organise and manage investments with and for members. We buy stakes in companies with the potential for growth and interesting returns. We invest together and all share fully in the outcome, with smaller investors investing alongside larger ones. In this way, it is possible to reduce risk and diversify better, even though investing in specific companies is generally risky.

How to become a Venture Club member?

If you have a referral from an existing member, you can register online. If you don't, please contact us to discuss your options. Once you have registered, agreed to record your details and confirmed your email, you will receive another invoice for the type of membership you have chosen. (You can also invoice a legal entity, although membership is always for an individual.) After payment of the membership fee, which is payable once a year and is due on the anniversary date of your account, your acceptance must be approved by the committee, or on its behalf by the club president. You may need to attend the next committee meeting to introduce yourself in person - this is compulsory for full members. The Committee will decide on the admission. However, we reserve the right to refuse admission without giving any reason. If you are refused membership, your membership fee will be refunded in full.
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What are the benefits of Venture Club membership?

Our club seeks and organizes investments and organizes social and educational events. We meet, consult and invest together in projects that are ethical, sustainable and profitable. Our members can access the online investment platform Venture Club Invest, which allows entry into club projects with a smaller investment, after signing a master investment agreement. Smaller investors invest alongside larger investors who oversee and manage the investments, and all participate without limitation in the outcome of any given project. We form a community of people who know each other and together assess opportunities as they arise and invest together.

What kinds of memberships do we have?

We currently have three forms of membership: the first is "Test" - for a first look at the club, or for those who want to come and show their project, and is actually just a registration for an event or portal. The next form is "Basic Membership", where you are really already a member of the club, and membership gives you access to online and product investments, and entry to educational and social events. It is suitable for smaller investors, to test how everything works without having to pay a larger fee The best form for investors who invest more or want to get more involved in the club is "Full Membership". You can invest more profitably - no deductions from your returns for the club, you get full access to all information, plus attendance at D-Days where we present projects including business plans and strategy documents. You can bring a guest to the events, you have access for two people. Full members have the opportunity to vote and be elected to the club committee and influence the direction the club takes going forward. For completeness, according to the constitution there is also an "Honorary Membership" - the club committee can grant this membership for free, it is then to the extent of the "Basic Membership", just unpaid.

Can a "Basic Member" apply for "Regular Membership"?

Yes, this is possible at any time during the membership period. Email us, you will receive an invoice for the difference in membership price and after payment we will then invite you to the Society Committee for a chat. If approved by the committee, you will be granted membership for a further 12 months.

What do I need to create a registration if I don't want to invest?

Registration is complete when you have completed the following steps: after submitting the application form, paying the membership fee, you must have all contact information filled out (name, address, date of birth), including the referrer. If the committee approves you, you are accepted. We will guide you through the whole process by email or, of course, feel free to contact us at any time. We will be happy to advise you.

What do I need to complete registration if I am also interested in accessing club projects?

Registration is complete once you have completed the following steps: after submitting the application form, paying the membership fee, you must have all contact details (name, address, date of birth), as well as your account number and uploaded two personal identification documents. Then the administrator will generate a framework investment agreement for you, you can fill in the investment questionnaire. Both documents need to be read, electronically signed by sms. They will come by email and you can also find them later in your profile - My Account, Documents section. Only after signing the contract and the questionnaire will we open all the information about the projects and the system will allow you to invest. You will enter the Pledge - you will order the investment if you like the particular opportunity. To order shares in the company or share certificates you will be asked to sign a framework agreement for this purpose. You will receive an email with payment instructions... We will guide you through the whole process by email or, of course, feel free to contact us at any time. We will be happy to advise you.

Why is an investor agreement concluded and an investment questionnaire required?

To have access to club projects and potentially participate with an investment through the online platform, you need to be a member of the club and have a contract. The framework agreement regulates the rights of both parties and is also supplemented by general terms and conditions. Although the club will do its best to both collect and supervise the invested funds, it is nevertheless clearly declared that this is an investment without further liability and this needs to be anchored in the contract. A questionnaire is needed to verify the qualification of the investor and the origin of the funds they are investing. Both documents must also exist in terms of registration of Venture Club Invest Ltd. with the CNB, according to par. 15, ZISIF, as a custodian of funds comparable to management. Both parties have them electronically - the member receives it by email after signing the sms and in addition has it saved in his profile to download for later use - My Account section. We recommend downloading and saving the contracts, the web application may not always be available and it is good to have something to "hold in your hand".

Why enter into a master agreement to invest in common shares or shares in companies?

The Master Common Unit Investment Agreement governs the procedure for ordering and acquiring a common unit or share in an investor company. A common share certificate is effectively the equivalent of a bearer share. For technical reasons, the sequence of steps is spread over different lengths of time and the investor acknowledges this by signing. That is to say, first, an investment order - called a Promissory Note - must be placed and paid. After the entire investment, or the relevant round of the tranche, has been sold to investors and it is known which shares have been exercised in what number, it is also possible to issue ordinary shares in certificated form and to deliver them to investors by way of re-signature. Only then can the investor be registered as a shareholder. The Agreement governs this process and the parties declare that, even though it is only by way of a subscription that the transfer of ownership of the shares takes place, once the Promise has been paid, they will act as if the subscription had already taken place.

How do I go about completing the Master Investment Agreement and the questionnaire?

If you are already a club member, make sure you have filled in all the details in the My Account section, including your bank account number, and uploaded two personal documents to verify your identity. Once we have verified your identity, the administrator will generate an investment agreement and questionnaire for you. Of course, if you fill out the header on the template documents by hand, this is fine too, just more work. You download the documents, print them, fill them out, sign them and upload them back into the system. We will occasionally exchange or send the original. So please prepare them in duplicate. If you scan the contract and questionnaire with your signature and upload it to the system, this will speed up your ability to access internal information and investments. We will open it immediately and not wait for the paper original.

I don't see an investor agreement and investment questionnaire, why?

If you already have access to the system and are therefore a member, but the investor agreement does not appear in your account environment with your details filled in, it is very likely that 1) you have not filled in your account number or 2) you have not uploaded two personal identification documents in the system. Maybe everything didn't save even though you uploaded it. That is, when you change or fill in your account number, you need to fill in your password again and only then save the changes. This is a security feature and to prevent a situation where someone accidentally changes your details without your knowledge. If you are unable to fill in your account number or upload documents, you can send us both to invest@ventureclub.cz and we will fill in and upload everything into the system for you. If you have completed both steps and still don't see the contract, it's best to email or call us. We'll be happy to help and work out what needs to be done.

What is Venture Club Invest and what kind of investments does it organize?

Venture Club Invest s.r.o. is an independent company, owned by the members of the club and working exclusively for the needs of Venture Club z.s., members of the association. It operates an information system - an online tool for managing the club's projects and records your investments in it. Venture Club Invest Ltd. has been registered under Section 15, ISIF, with the CNB since November 2017 and operates as a fund manager in a regime comparable to a management company. It is not subject to the supervision of the CNB. It only reports to the CNB on an annual basis and maintains separate accounts for operating and investment accounts. However, it is not a supervised entity with an approved strategy. It should be kept in mind that it only manages club investments, which are without any liability, and its use is entirely at the depositor's risk. Everyone enters into specific projects on "their" account and at their own risk. Invest only manages and accounts for the investment according to pre-announced terms. The other way of entering into investments is to buy shares in the investors company, directly or by way of a share certificate (behaving like bearer shares). Buying a stake in a company is a normal business activity, not subject to regulation for financial and investment companies. You are subsequently registered as a shareholder in the Companies House.

What contractual investment documents will I receive via the online platform and when?

The basis is a framework investment agreement and a questionnaire (previously it was also in paper form, now it is a signed document that you receive by email and can download in your Profile - My Account). After accepting the Promise (ordering the investment via the platform) and making the payment, you will receive an email confirmation of the payment and then you will find the same confirmation in your Profile (My Account). The Terms and Conditions of the investment - a copy of the terms and conditions in force at the time of the Pledge and publication in the system - can be downloaded via the button available at the bottom of the page where you enter the Pledge. A confirmation of the status of the investment will also come once a year and, of course, when the investment is completed - either by requesting a sale, if that is possible in that case, or by ending the investment and billing the members - this billing will also come. You see everything electronically in the system and you also receive everything by email, for your greater convenience and better security.

I am interested in changing my membership level for the next term, how do I proceed?

To change during the term from basic to regular, click on the button in your profile - My Account - Membership - to order an "upgrade" membership. The system will send you a prompt to pay the difference in membership price and once paid (and approved by the committee), you will extend your membership for an additional 12 months. Conversely, if you want to downgrade to a basic membership, this is also possible, but only for an additional period. In the system, set the "Membership level for the next period: Basic". When you renew your membership, the system will send you a request to pay the new level. Likewise, you can set "Terminate Membership" - when the membership expires, the system will no longer send a payment prompt and the membership will be terminated. This is possible automatically if you do not have a fund investment. If you need to ask, we will find a solution.

I am interested in terminating my membership, what happens to my investment if I keep it?

It is of course possible to request termination of membership at any time, but in that case the (fund) investment is also terminated and will be settled at the discretion of the club. The club can only manage funds for its members, so it will first settle the investment and only then can the membership be terminated. But the basis is an agreement and we are interested in fair terms, so please get in touch if necessary and we will try to find a suitable solution for both parties. The above applies to investments held through the club's non-public fund, according to par. 15 of the ISIF. Regarding holding an investment by way of holding a share in an investor company - you do not need to be a member of the club for this and can terminate your membership at any time.

I probably don't see all the investment documents. How is that possible?

Some documents are intended for different types of membership or for internal committee use only. In fact, it may be necessary to have a special NDA - club confidentiality - signed. This is normally only signed by "Full Members" but nevertheless, if you are interested in further information, please ask us.

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