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When Seth Bradley says, "It's all good until it's not," he's cutting to the heart of what every capital raiser needs to understand about securities law. As both a practicing securities attorney and successful fund manager who's raised tens of millions personally, Seth brings unique dual perspective to the often misunderstood world of investment funds.
The podcast delves into the dangerous misconceptions that trap well-meaning real estate entrepreneurs. That casual arrangement where friends wire money to your LLC for real estate deals? Potentially illegal. The popular co-GP model where you're raising capital but not making management decisions? "Dead" according to Seth, as market downturns expose non-compliant structures through investor lawsuits.
Seth breaks down the critical distinctions between 506B and 506C offerings with remarkable clarity, explaining why a pre-existing relationship matters and how fund structures can evolve. The conversation takes a fascinating turn toward industry innovation as Seth discusses his role with TribeVest, which has revolutionized fund creation by handling everything from legal documentation to investor relations for a fraction of traditional costs.
Perhaps most compelling is our discussion about the massive disparity in private equity, where historically 98.3% of investments have gone to white men. Seth offers straightforward advice for underrepresented groups entering fund management: "Be confident and don't be intimidated." This episode provides both the technical knowledge and strategic guidance needed to navigate the complex world of compliant capital raising.
Ready to ensure your fund stays on the right side of securities law? Follow the podcast and visit fundsonfirecom/founders to access the free Fund Foundations 101 course that will help you launch and scale your investment fund the right way.
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