Regulatory Requirements – Summary
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Various regulations do not allow General Partners of limited partnerships to distribute the performance record of the General Partner and of the particular partnerships under management to the general public, except in very general terms.
The same regulations stipulate that those who may have access to such information and who the General Partner may accept as limited partners satisfy certain financial requirements. If a person or an entity satisfies these financial requirements, they are called an “accredited investor” or a “qualified purchaser” depending on the regulations under which a given partnership operates.
Thus, the general public has access only to general information about VCM and the partnerships it manages. In order to access more specific information about the VCM Investment Frameworks and its past investment record, you must submit a Qualification Form, or be approved by VCM based on its existing knowledge of your financial parameters.
Certain parties such as the press, VCM service providers, and potential employees may be granted access to restricted areas of the VCM website provided they do not act as potential investors.
Starting mid-2012, VCM is not accepting from potential limited partners the Qualification Forms described below .
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Mechanics of Access – Summary
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The Site Map will help you understand which areas of the website are restricted and who may access them. However, summaries of most restricted areas are available to the general public.
After you have filled out the online Qualification Form, below, we will review your information and either issue you an Access Code, deny your application, or request further information. It is very likely we will call you to ascertain your accredited investor status.
Our use of the information that you provide us is strictly for the purpose of satisfying the regulatory requirements related to “qualified” and “accredited” investors. We use this information in the most restricted fashion possible. Please see our Privacy Statement for more information.
Much of the information about VCM you may wish to study can be obtained by either becoming a Registered Guest or an Observer of this website (see their definitions below), or by calling VCM and requesting the information package, or at a meeting at VCM's offices (see please Contact Information).
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Mechanics of Access – in Depth
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Access Levels
The general public, also referred to as ”Visitors”, is given access to the unrestricted areas of the VCM website. All those who are given access to many restricted portions of the website are called “Registered Guests”.
In addition, there are two more restricted areas of the website that even Registered Guests do not have access to. Access to these areas is given to Observers and Partners.
“Observers” are Registered Guests who, after being qualified by VCM, are given access to detailed performance reports and to legal documentation that they will need to sign to become limited partners in one of the several VCM partnerships.
“Partners” are given access to the entire website, including the areas used for day-to-day communication with the limited partners, and the website area containing information and reports prepared for each limited partner.
Past performance quarterly reports are available to the Observers, and summaries of past performance are available to Registered Guests.
Most information that at first is available only to Partners, with time (once its proprietary nature diminishes or other distribution restrictions grow irrelevant) becomes available to Observers and Registered Guests. This information allows them to study to the maximum degree possible the decision making at VCM and the style of VCM’s communication with its limited partners.
Qualifying for Access
As to the precise mechanics, after you have filled out the Qualification Form – it takes less than a few minutes, and the form is available on this website, below – the form will be reviewed by VCM. VCM may request further information, or VCM may call you to ascertain that you satisfy the regulatory requirements. After that, either a temporary Access Code will be emailed to you, or the application may be denied by VCM, and a denial notification email will be sent to you.
Enter your temporary Access Code on the Login Page, and then you can choose your own permanent Username and Password for future use of the website.
Alternatively, a temporary Access Code may be sent to you based on VCM’s determination that you satisfy all requirements to become a Registered Guest or an Observer and a decision by VCM to invite you to become one. You will not have to submit a Qualification Form in this case.
If you are allergic to forms and would rather apply for a password on the phone or by email, you may call us, or ask us to call by sending us an email at the address in Contact Information.
VCM will establish your qualifications as an “accredited investor” by a process which, in essence, is the same at most General Partner firms managing hedge funds:
- VCM will ask questions similar to the ones asked in the Qualification Form to ascertain your "accredited investor" status,
– Your desire to proceed further with your research of VCM investment frameworks will be ascertained by a VCM representative via a meeting, emails, or a phone conference with you,
– A VCM representative will try to ascertain that you understand the style of our investments, in particular the long-term nature of our investments and concentration in relatively few positions, and will discuss with you the use the risk factors of our investment strategies.
– You will have an opportunity to ask questions that may have not been answered by your study of the documents that VCM made available to you on this website or by other means.
Privacy of Your Information
Our use of the information that you provide in the Qualification Form and other communications with us is strictly for the purpose of satisfying the regulatory requirements related to “qualified” and “accredited” investors. Our Privacy Statement, posted on this website, further describes how we protect your privacy.
Rest assured that after 20 years in the business of managing money, we understand the value of our partners’ and observers’ privacy. We use the information provided to us in the most restricted fashion, and we certainly do not provide it to any third parties who would use it for marketing purposes, or for any purposes other than serving you as our partner or prospect.
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Qualification Form
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The questions in the Qualification Form are dictated by the regulations defining an “accredited investor”.
US entities:
To fill out a Qualification Form, please click here.
Non-US entities:
If you are not a resident or citizen of the United States, in addition to the Qualification Form you must submit the Access Authorization Form for a non-US Entity.
Website access will not be granted by VCM unless the information provided by a non-US entity is sufficient to establish its status as a potential client of VCM.
To fill out a Qualification Form, please click here.
To fill out a Access Authorization Form for a non-US Entity, please click here.
Here are suggestions how to make easier on you to send us the information requested in the Access Authorization Form for a non-US Entity. Our email and mailing addresses are in Contact Information:
• Fill out an Access Authorization Form for a non-US Entity, attach it to an email as Microsoft Word or PDF file, or paste it into an email, and send the email to us, or
• Email to us your resume that you perhaps usually use for other purposes, or
• Email to us your personal information, your LinkedIn profile (if it is not a perfunctory one) and an electronic copy of your business card, or
• Email to us your personal information as requested in the Access Authorization Form for a non-US Entity and a link to your bio on your corporate website, or
• Email a link to your personal website (if it is a detailed one and contains at least all information requested in the Access Authorization Form for a non-US Entity), or
• Use the post office mail, and send us any of the above suggested documents, or anything else that contains at least all information requested in the Access Authorization Form for a non-US Entity.
Do not send please links to social networking sites (Facebook, My Space, etc.) and to other than LinkedIn business networking sites – only LinkedIn profiles are accepted. Send, if you wish, suggestions about other business networking sites we should accept.
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