Investment Risk Notice

Early-stage investing is a high risk activity. Investments in startups can result in profits as well as losses up to the full amount invested. Also, past performance is not indicative of future returns. Startup investments are illiquid, and often take many years to generate realised returns, if any. Actual participation in investments via The Closed syndicate is restricted to those who successfully submit the onboarding investor due-diligence documentation, as required under international anti-money-laundering laws. Actual access to information regarding Closed syndicate’s available investment opportunities is restricted to those who can fully understand and are able to bear all of the risks involved in the forward purchase of the specified instruments, including, without limitation, the risk of loss in excess of any initial or additional payments. These are sophisticated investors familiar with early-stage investing and the obligations of the nature of the specified instruments and who have the necessary financial means and knowledge to make investments in risky asset classes. Each country has different criteria to assess whether someone is eligible to be considered a qualified investor. Investors are required to confirm that they meet the qualifications of business angel investors according to the relevant laws applicable to the personal circumstances of the investor, in order to view and invest in Closed syndicate’s available investment opportunities. The Closed syndicate does not provide investment advice or make recommendations in any way. Any decisions to invest must be taken solely by the investor; Closed syndicate shall in no event be liable for any damages or losses except to the extent permitted by law.