What does Pending KYC mean?

When an investor on Lilypads invests for the first time, they have to comply with the KYC process. 

 

KYC is an acronym for Know Your Customer, whereby the LPs must provide their personal information to verify their identity via their ID documents. An investor will fail to go through with their investment process until their KYC procedure is completed. Therefore, the LPs who have their yellow ‘pending KYC’ checkmark next to their names imply that their KYC verification is pending.

 

Lilypads ensures that every investor in its platform has completed their KYC authentication. Our team regularly follows up with every investor to execute their KYC verification for moving forward with their investments.

What happens when an LP has signed but not completed their investment?

Typically, when LPs have signed but not completed their investment, it means that the KYC verification for their actual funds is awaiting.

 

When an investor on Lilypads invests for the first time, they have to comply with the KYC process. KYC is an acronym for Know Your Customer, whereby the LPs must provide their personal information to verify their identity via their ID documents. An investor will fail to initiate their investment process until their KYC procedure is completed. Therefore, the LPs who have their KYC pending will have a yellow ‘pending KYC’ badge next to their names.

 

However, for the LPs who have their KYC pending and have opted to fund their account via ACH at signing, Lilypads automatically extracts their funds from their account. Therefore, this entire process has a turnaround time of a few days. 

 

Additionally, those LPs who have chosen to fund their investment via Wire or have already sent their fundings can experience a delay in their investment until the Wire is completed. Lilypads ensures that your LPs have sent their fundings and estimated their investment before the deadline.

How can I see which LPs have signed their investment?

If you head over to the Connection tab on the INP, you can scroll down below the Invite and Invite links section to open a column view of all the LPs who have been invited to your Network to participate in your offering. There you can see four columns namely Invited, Opened, Signed, and Completed. Under the Signed section, you can find out which LPs have signed the investment. Furthermore, in this section, you can also see which LPs have signed but not completed their investment.

 How can I see which LPs have completed their investment?

If you head over to the connection tab on the INP, you can scroll down below the Invite and Invite links section to open a column view of all the LPs who have been invited to your Network to participate in your offering. There you can see four columns namely Invited, Opened, Signed, and Completed. Under the completed section, you can find out which LPs have completed the investment. Furthermore, in this section, you can also see which LPs have signed but not completed their investment.

This help page and the information contained herein is provided for informational and discussion purposes only and is not intended to be a recommendation for any investment or other advice of any kind, and shall not constitute or imply any offer to purchase, sell or hold any security or to enter into or engage in any type of transaction.

Investing in venture capital funds is inherently risky and illiquid. It involves a high degree of risk and is suitable only for sophisticated and qualified investors.