FundersClub’s main activities are not directly affected by this act because we are presently targeting accredited investors only. Furthermore, we are using legal structures and exemptions that have been used by angel groups and VC funds for decades and so are not relying on new legislation for our present operations. However, we are intrigued by the new possibilities enabled by the JOBS Act and look forward to potentially expanding our activities down the road.
*The JOBS Act, meant to enable crowdfunding for all Americans, was signed into law on April 5, 2012 by President Obama and is currently under an SEC rule-making period. For more information, visit http://www.sec.gov/spotlight/jobs-act.shtml.