Lucy Law, Chief Kitten Herder
The NEXT GEN Fund is open to young persons under 35 who qualify as wholesale investors or who collaboratively invests via a sponsoring wholesale investor. Essentially, participants jointly consider investment opportunities that are open to FKA investors. This would typically mean reading and discussing DD reports, potentially calling on members of the DD team and maybe the founders for more insight and to answer questions. Eventually, the group decides by majority vote if an investment should be made. The investment is then made by the NEXT GEN Fund on behalf of all participants and the resulting shares are transferred to the individual NEXT GEN Catalist accounts. Participants are also welcome to attend ADI Clinics and pitch nights.
The group self-organises to agree communication standards and the format and frequency of meetings. Lucy Law has volunteered to act as the group co-ordinator or Chief Kitten Herder. She has professional experience, is a regular at ADI.Clinic and has worked on several of FKA’s recent DDs.
Investing in startups is highly risky. The size and timing of returns are uncertain, and the capital may not be repaid.
How NEXT GEN accounts work with Catalist​
  • Catalist will need to set up a new account (NEXT GEN account) which is shared between the sponsoring wholesale investor and the sponsored NEXT GEN investor. ​
  • The wholesale investor will be able to access the NEXT GEN account using their existing login (and they’ll still be able to access their existing account).​
  • The NEXT GEN investor will be able to access the NEXT GEN account, but they won’t have access to anything in the wholesale investor’s individual account.​
  • The wholesale investor will be responsible for the NEXT GEN account and for providing any funds used to invest.  The wholesale investor will hold any investments made on trust for the NEXT GEN investor, and delegates them authority to submit investment orders from the NEXT GEN account, subject to the ability of the wholesale investor to have oversight.
Four steps to your NEXT GEN account
​You need to do this before you can submit your investment:
  1. The Wholesale investor should ensure they have an active Catalist account, which is registered as a wholesale account. You can check your account type by clicking on “My account” when logged in.  “Investor type” should be “Wholesale” and “Account type” should be “verified”.
  2. The NEXT GEN investor should set up their own individual investor account.  To do this they should click on the “Join” button on the Catalist website and create their own individual login.  They then need to login to their new account and complete the online ID verification form that will appear.  They will need either a NZ Passport or drivers licence to hand to complete the process.
  3. Email [email protected] when both the wholesale investor and the NEXT GEN investor both have active Catalist accounts.  Tell Catalist that you want to invest in the FKA NEXT GEN Fund and therefore you need a “NEXT GEN” Trust account specifying who is the wholesale investor and who is the NEXT GEN investor.
  4. We will confirm to both of you when the account is ready to invest from.  When you invest in the NEXT GEN Fund HERE, make sure you do so using your new NEXT GEN account.
Notes about using additional accounts  
  • When you are given access to an additional account, to access it log into your existing Catalist account and click on your account name at the top of screen.  You can then choose to view any of the other accounts you have access to by selecting the relevant account from the drop-down list
  • If you have access to more than one investor account, please make sure you are using the correct account, i.e. the one you want to hold the new investment in, when submitting a new investment order.
  • If you have access to any private marketplace pages, your access rights may be different in the different accounts, so please make sure you are in the correct account before searching for a private investment on the marketplace.
  • Please note that for multi-user accounts or accounts representing more than one person, any of the users may legally bind the account.  If you require further approvals before trading, you must ensure these are in place before a user submits any trading order.  Under the Catalist terms and conditions Catalist may action the instructions of any one joint account holder.
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