iSelect is a very unique product, but when you break it into it’s parts it’s fairly easy to understand.
On the front end, we’re a traditional venture capital fund. We have a diligence process, we have an investment process, we have certain categories of industry where we have focus and real expertise, and we invest in companies in those areas that meet our requirements for the fund. We watch the companies grow over time, and we hopefully have positive exits where we make a lot of money for us and for our investors.
On the back end, we’re unique in that we don’t raise a large amount of capital at one time and deploy it over the life of our fund. Each deal that we bring on to the fund our investors have to approve and determine to invest in that deal. So, we have to constantly prove our diligence standards.
We distribute to our investors on the back end through a network of registered investment advisors and broker-dealers, and through some institutional investors too. For those investors, we’re able to get them into this asset class, into these private deals that they’ve never been able to access before, because we have a very defined diligence process.
It’s comprehensive, of course, but it’s also accessible and transparent, and easy for the investment advisors, their clients, and their regulators to come in and audit the fact that we do a comprehensive diligence process.