Introduction to Frens Syndicate
About Frens Syndicate:
Frens is a syndicate comprised of Web3 founders, C-level executives, product owners, builders, and VC analysts. Our shared mission is to collaboratively explore and invest in exceptional early-stage projects, analyze them collectively, exchange insights, and cultivate fruitful partnerships. Frens's goal is to create a leading in-class syndicate with access to superior deals. At Frens, we're not only here to forge meaningful connections but also to create substantial financial opportunities.
Investor Alignment: We exclusively introduce projects in which we are going invest ourselves and have "Skin In the Game".
Investment Pools: Frens operates as a unified Investment Pools. SAFTs are issued under the Frens legal entity, ensuring a secure and transparent investment process. Tokens can be claimed seamlessly through a project/Frens dashboard or via airdrop.
Freedom to Select: each member commits solely to projects aligning with their investment criteria. Our allocation size per member is usually between $3k-50k.
At Frens Syndicate, our investment strategy is guided by a rigorous assessment of the projects we support. We prioritize projects that exhibit exceptional qualities:
Exceptional Teams (To Fill):
Backing from Reputable VCs (To Fill):
Significant Upside (To Fill):
Great projects receive a score of 1.
Good projects receive a score of 0.5.
Our target is to invest in projects that score 2.5 to 3 out of 3 based on the above criteria.
Note: In certain market conditions, we may consider projects that score 2 out of 3 if they align with our investment strategy and offer strong potential for growth.
The Investment Process:
Initial Due Diligence:
Detailed scoring based on a model is conducted internally before sharing with the community.
Only 7% of deals pass this initial stage.
Deals that pass the initial due diligence are presented to the community for discussion and voting.
Community members provide insights about the team, technology, and other relevant factors.
If a deal is approved by the community, it progresses to the next stage.
SAFT Signing and Fund Collection:
After a deal is approved, Fren GPs (General Partners) sign a SAFT (Simple Agreement for Future Tokens) and begin collecting funds.
Members can make either soft or hard commitments.
Soft commitment indicates an intention to book an allocation, which can be canceled.
Hard commitment signifies a final decision, and members are required to transfer funds.
Funds must be transferred within 48 hours of making a hard commitment, or the allocation becomes available to other members.
Members have 72 hours to change the status of the soft commitment to the hard one.
Funds are collected and stored in a Fren multi-sig wallet dedicated to the particular deal.
These funds are later sent to the wallet address specified in the SAFT.
As the project listing date approaches, members are notified about the claiming process.
Tokens are distributed to the wallets used for transferring funds during the fund collection stage.
Alternatively, wallets may be added to the project/Frens claiming dashboard for token distribution.
This structured process ensures transparency, community involvement, and accountability throughout the investment journey within Frens Syndicate. It also emphasizes the importance of timely commitments.
How to Become a Fren:
Fill out the Application Form:
Interested individuals should start by filling out a 2-minute application form, which can be accessed at the provided: https://form.typeform.com/to/gpQd3cTQ. This application is designed to gather basic information about potential members and their interests.
The application typically takes only about 2 minutes to complete.
Screening and Contact:
After receiving the application, Frens's COO or Business Development Officer BDO will review the submissions. All applications are reviewed twice a week.
If there is a good fit between the applicant's profile and the club's criteria, they will be contacted via Telegram or email to arrange a short call. This call is likely to be an opportunity to further discuss the applicant's background, interests, and alignment with Frens's values and community.
Onboarding and Access:
If the call is successful and both parties agree that the applicant aligns with the club's objectives and values, the applicant will be welcomed into Frens.
They will be added to the club's Discord and Telegram groups.
The applicant will receive onboarding instructions, which may include details on how to participate in investment opportunities, engage with the community, and access deals.
Overall, this process ensures that new members not only possess the necessary financial and blockchain competence but also align with the Frens community-oriented culture, emphasizing warmth, honesty, and valuable interactions among members. It's a structured approach to maintain the quality and cohesion of the Frens community.
Join Frens Syndicate to be part of a vibrant community shaping the future of Web3 investments!
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