Self-Certification for High Net Worth Investors in the UK

Asked by

Community Member

Feb 25, 2025

Venture Legal

In the UK, do we need to ask potential LPs to self certify as a High Net Worth or Sophisticated Investor when we share a PACT? I.e Do we need to incorporate an investor self declaration as part of the PACT?

1 See in Base

Answered by

Community Member

Feb 26, 2025

The PACT is a non-binding letter of intent and therefore you will not need to ask LPs to certify. That being said, you should avoid LPs that are not wealthy and meet the basic accreditation standards. Once you're ready to start a closing process, your lawyer will draft the proper declarations in the official legal docs.

Answered by

Community Member

Feb 26, 2025

Thank you.

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In the UK, do we need to ask potential LPs to self certify as a High Net Worth or Sophisticated Investor when we share a PACT? I.e Do we need to incorporate an investor self declaration as part of the PACT?

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