Rule 506(c) allows for general solicitation or advertisement to the public for Rolling Fund GPs. AngelList Venture handles accreditation verification for all 506(c) funds on the platform.
Does that mean that Rolling Funds GPs can publicly fundraise from anyone?
The answer is a bit nuanced. While GPs can talk publicly about their fundraising they can only accept capital from Accredited Investors. Under 506(c), fund managers must verify the accredited investor status of each investor participating in the fund.
Wouldn't that create additional overhead for the GP?
Not at all. As part of our product offering, we verify all investor status on behalf of the GP. We want GPs to focus on funding the next wave of world-changing startups