Part IV - An X-Ray of the Fund’s M&A and Subscription/Redemption Agreement
In this second last part, we explain the legal mechanism of how investors subscribe and redeem shares in your Fund and look at the key documents that make this work.
A. The Fund’s Constitution
An Incubator Fund in the BVI is incorporated as a “company limited by shares” (the “Company”): a standard limited company which has been upgraded using a Special Resolution that adopts amended and restated Memorandum and Articles of Association (M&A) for the Company.
We have shared a template M&A here for ease of reference.