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Fee Schedule

​Since inception in 2014, FKA has never charged fees on founders and only modest fees on exit to investors.
​Now 10 years on, we are facing compliance costs with FMA registration and AML regulations. The investment activity has grown substantially with nearly 50 portfolio companies and over 200 investors​. ​T​his makes the reliance on  volunteers for all back office work no longer appropriate.​

​In order to recover compliance and back office staff costs, the fee schedule below is applicable from November 2024. FKA will remain lean and has no intention to monetize the investment process for profit. Directors receive no remuneration and will review fee levels to ensure that costs are met with prudence. 
The Board may adjust fee levels from time to time as is appropriate. Any excess income will be attributed to the ADI and 4FF founder programs.

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Startup Investments
		Rate	Cap
	General Investor	2.00%	$2,000
	Active Angel	1.50%	$1,500
	Voting Angel  First Round that FKA leads  after DD & Investment Vote	0.75%	$750

• All investments are subject to a $25 minimum fee.
• Voting Angels are a subset of Active Angels who are members of the invite only Driver Fund who support FKA's DD and Investment Voting process.
• Active Angels have passed the FKA Veto Gate and continue to help with various aspects of the angel investment process. such as early mentoring, assisting with  ADI.Clinic, DD, and post investment management.
  
• All others are General Investors. frequency and magnitude of investments is not a sufficient criterium to qualify as Active Angel.
• General Investor Illustration
  ‣ Invest $1,000, fee $25, to pay $1,025
  ‣ Invest $25,000, fee $500, to pay $25,500
  ‣ Invest $300,000, fee $2,000, to pay $302,000

Fund Investments
		Rate	Cap
	NEXT GEN Fund	e x e m p t
	Driver Fund	e x e m p t

• ​NEXT GEN Fund commitment to 5 x $1,000 investments by collective vote.
• Driver Fund commitment to 5 x $3,000 investments by collective vote.
  By invitation only. Currently DF30, formerly VF25, VF20, LP2, LP1​.

Investment Returns
		Rate	Cap
	Liquidity Event	2.00%	$2,000
	Dividend	0.25%	$200

• All return payouts are subject to a $25 minimum fee.
• A Liquidity Event may result in tranched payouts. If the total return is less than 1x only the minimum fee is applicable for each payout.
• Liquidity Event Illustration for $10,000 invested
  ‣ Return $500, payout = $475, fee = $25.
  ‣ Return $50,000, payout = $49,000, fee = $1,000.
  ‣ Return $120,000,
       Tranche 1 $40,000, payout = $39,200, fee = $800,
       Tranche 2 $60,,000, payout, $53,800, fee = $1,200,
       Escrow $20,000, payout $19,975, fee = $25.

Secondaries
		Rate	Cap
	Buyer	1.00%	$1,000
	Seller	1.00%	$1,000

Fee Exemptions

• Members of the DD Team do the heavy lifting when FKA leads a round. Therefore all investments from the DD Team in that round do not attract fees.
• Investor Reps co-ordinate comms between startup and investors and may also serve on the startup board. The acting Investor Rep pays no fees for investments in that startup.
• FKA Directors are not renumerated and therefore receive a full fee exemption.

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