Pelion Ventures VIII Financial Institutions Fund Exemption Request for Conflict of Interest
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This notice allows Pelion Ventures VIII Financial Institutions Fund to proceed with investments in certain companies after seeking an exemption from conflict of interest regulations. The Fund, part of a network of related ventures, needs this exemption due to shared control, impacting its ability to invest in multiple companies. Businesses involved should be prepared to engage with regulators during the review period.
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Key Changes
- Allows Pelion Ventures to proceed with investments pending conflict of interest exemption
- Involves a network of related ventures controlling multiple companies
- Requires interaction with regulators during the review period
Obligations
What this law requires
Pelion Ventures VIII Financial Institutions Fund, L.P. must obtain and maintain an exemption under Section 312 of the Small Business Investment Act of 1958 and 13 CFR 107.730 before proceeding with financings to the ten identified companies
Pelion Ventures VIII Financial Institutions Fund, L.P. must disclose to the SBA that it is providing financings to Accio, Inc., Agrippa Industries, Inc., Cartwheel, Inc., Commenda Technologies, Inc., Moises System, Inc., Nala, Inc., Redem Tech. Inc., Remi Labs, Subscript, Inc., and Strider Technologies, Inc.
Pelion Ventures VIII Financial Institutions Fund, L.P. must disclose the common control relationship with Pelion Inc., Pelion Ventures VIII, L.P., Pelion Ventures VIII-Enterprise Fund, L.P., Pelion Ventures VIII-A, L.P., and Pelion Ventures VIII-C, L.P. and that these entities are Associates under 13 CFR 107.50
Any interested person must submit written comments on the transaction within fifteen days of publication to the Associate Administrator for Investment, U.S. Small Business Administration, 409 Third Street SW, Washington, DC 20416
Pelion Ventures VIII Financial Institutions Fund, L.P. must comply with the conflict of interest regulations under 13 CFR 107.730 or maintain active exemption status