YOBI CAPITAL FUND Corp

Key economics

Preferred return

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Hurdle rate

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LP / GP split

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GP catch-up

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GP clawback

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GP commitment

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Diligence findings (13 · 6 high/critical)

• high
  DDQ gap: Does the fund engage an independent auditor?The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.
• high
  DDQ gap: Does the fund have a GP clawback provision?The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
• high
  DDQ gap: Is the fund's fee schedule disclosed (management fee, etc.)?The offering documents don't answer a standard institutional DDQ question (Fees & Expenses). An allocator will ask this directly — the GP should be ready with an answer.
• high
  DDQ gap: What is the LP/GP carried-interest split above the preferred return?The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
• high
  DDQ gap: What is the preferred return (hurdle) rate offered to LPs?The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
• high
  Numeric inconsistency — Shares issued and outstanding as of June 30, 2015Audited balance sheet states 24,000,000 shares issued and outstanding at June 30, 2015, but the Statement of Stockholders' Equity shows a June 30, 2015 balance of 41,500,000 shares; the 24,000,000 figure is also inconsistent with the $4,150 common-stock amount at $0.0001 par (which implies 41,500,000 shares).
• medium
  DDQ gap: Does the fund use a third-party fund administrator?The offering documents don't answer a standard institutional DDQ question (Governance). An allocator will ask this directly — the GP should be ready with an answer.
• medium
  DDQ gap: Is there a GP catch-up, and at what rate?The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
• medium
  DDQ gap: What distribution-waterfall structure does the fund use?The offering documents don't answer a standard institutional DDQ question (Structure). An allocator will ask this directly — the GP should be ready with an answer.
• medium
  DDQ gap: What is the GP's capital commitment (skin in the game)?The offering documents don't answer a standard institutional DDQ question (Economics). An allocator will ask this directly — the GP should be ready with an answer.
• medium
  Document-quality defect — Identity of the wholly-owned subsidiaryThe body of the offering circular identifies the wholly-owned Title III subsidiary as 'Yobi Ventures, LLC', but the audited financial statements (titled 'AND SUBSIDIARY', singular) name the wholly-owned subsidiary as 'Yobi Homes, LLC' — an entity never mentioned anywhere in the body of the document, creating a mismatch about which entity is the Company's subsidiary.
• info
  Spelling / typo — IssuranceIn the audited Statement of Stockholders' Equity, the line item for the founder's share issuance is misspelled 'Issurance' (should be 'Issuance').
• info
  Spelling / typo — Yobi Captial Fund CorporationThe Company's own name is misspelled as 'Yobi Captial Fund Corporation' (should be 'Capital') in Note 1 of the financial statements; the same misspelling recurs in the unaudited Note 1.

DDQ readiness — 31% covered

4 answered · 0 partial · 9 gaps of 13 standard questions.