SEC Reviews Venture Fund's Fee and Share Overhaul Requests
Published Date: 4/24/2025
Notice
Summary
Connetic Venture Capital Access Fund and Connetic RIA, LLC asked the SEC for permission to offer different types of shares, charge fees for early withdrawals, and add ongoing service fees. This affects investors in their closed-end fund by changing how they pay fees and what shares they can buy. The SEC will decide by May 16, 2025, unless someone requests a hearing, so keep an eye out if you’re involved!
Analyzed Economic Effects
3 provisions identified: 0 benefits, 2 costs, 1 mixed.
Early withdrawal charges possible
The fund asked the SEC for permission to impose early withdrawal charges on investors who redeem or withdraw before a specified time. If approved, investors who take money out early from this closed-end fund could have to pay those charges.
Ongoing asset-based distribution/service fees
The fund asked the SEC for permission to impose asset-based distribution and/or service fees that would be charged against the fund's assets. If approved, investors in the closed-end fund could experience ongoing fees taken from fund assets for distribution or service purposes.
Fund may issue multiple share classes
Connetic Venture Capital Access Fund asked the SEC for permission to issue multiple classes of shares. If the SEC approves, investors in this closed-end fund could choose among different classes of shares offered by the fund.
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