Frens runs each opportunity deal-by-deal. There is no obligation to invest in every deal.
You review each opportunity, decide whether it fits your own criteria, and choose your own allocation.
For SPV structure, legal documents, ROFR, Allocations.com and transfer mechanics, see the Deal Structure page.
When a deal opens, Frens shares the key materials with members.
This typically includes the company overview, investment memo, share price, valuation reference, target allocation, minimum cheque, fees, timeline and supporting materials.
The goal is simple: you should understand what the company does, why the opportunity exists, what price we are buying at, and how participation works.
If interested, you submit a soft commitment.
This is a non-binding indication of interest. It helps Frens understand demand and manage the final allocation.
Example: if Frens has access to a US$500k share block and members soft commit US$800k, we use soft commitments to manage final allocations before moving to funding.
You can change or cancel your soft commitment before final allocations are confirmed.
If the deal proceeds, Frens confirms final allocations with participating members.
Once you confirm your final allocation and move into subscription, your commitment should be treated as final.
Your ownership is based on your funded amount as a percentage of the final SPV size.
Example: if the SPV invests US$500k and you invest US$50k, you own 10% of the SPV.