Investor Application

Depending on the entity type of the Applicant (e.g. Individual, company, trust, etc.), you will need to have the following information on hand in order to complete the Investor Application Form:

• Full legal name & address of the Applicant
• ABN & ACN or equivalent (if applicable)
• Contact details for the primary & secondary contact
• Contact details for signatories

AML Information Collection & Checks

We have appointed FirstAML as our agent to fulfil our regulatory and compliance checks related to Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF). Following the online Application Form submission, you will receive an email from First AML inviting you to complete the necessary AML/CTF checks.

The First AML process is straightforward and easy to complete. We kindly ask that you complete the AML/CTF checks as set out by First AML using their online platform and to provide any supporting documentation identified. The nature of the additional information required will depend on the information given by the Applicant in this Subscription Deed and during the AML, including without limitation the type of entity of the Applicant.

First AML will guide you through the AML process. Please answer all questions to the best of your abilities and First AML will follow up with any questions or queries. AML legislation and compliance requirements may change from time to time, and as such, the Applicant should follow the guidance provided by First AML. 

We kindly ask that you provide any verification documentation requested by First AML directly to them. ‍Verification documents may need to be certified, and should this be required, First AML will be able to provide guidance on the certification requirements.

If you have any questions about the AML process, please contact:

• First AML at cdd@firstaml.com or +61 1800 727 510
• Tenacious at manager@tenacious.ventures or +61 403 876 008.

‍Please note that your application will not be complete until you have completed all requested AML/KYC checks, and Tenacious Ventures Fund II has confirmed in writing that you have been admitted to the Fund.

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Politically Exposed Persons (PEPs)

As part of our AML/CTF compliance obligations, Tenacious Ventures is required to identify whether the Applicant or a beneficial owner of the Applicant is a Politically Exposed Person (PEP), in line with the definition given below.

A PEP is an individual who holds a prominent public position or role in a government body or international organization, either in Australia or overseas. Immediate family members and/or close associates of these individuals are also considered PEPs.

PEPs often have power over government spending and budgets, procurement processes, development approvals, and grants. Because PEPs hold positions of power and influence, they can be a target for corruption and bribery attempts, and, ultimately for money laundering or terrorism financing activities.

Examples of PEPs include heads of state, government ministers or equivalent politicians, senior government executives, high-ranking judges, high-ranking military officers, central bank governors, or board members or executives of an international organisation. This is not a complete list of PEPs.

The AML/CTF Act identifies three types of PEPs

1. Domestic PEP – someone who holds a prominent public position or role in an Australian government body.
2. Foreign PEP – someone who holds a prominent public position or role with a government body in a country other than Australia. This would include foreign PEPs working or residing in Australia.
3. International organization PEP – someone who holds a prominent public position or role in an international organization, such as the United Nations (UN), the World Trade Organisation (WTO) or the North Atlantic Treaty Organisation (NATO).

While First AML will undertake PEP checks, Applicants will also be asked to rate the likelihood that the Applicant and/or a beneficial owner of the Applicant is a politically exposed person.

This information will be collected via an online form along with other KYC information which we require for legal, tax and compliances purposes. You will be prompted to complete the KYC data collection & FATCA/CRS self-certification forms after we've reviewed your investor application.

Foreign Account Tax Compliance Act (FATCA) & Common Reporting Standard (CRS) Self-Certification must be completed by all investors to declare their CRS and FATCA status.

FATCA and CRS regulations oblige us to ask a few questions about the tax residency of the Applicant. We've tried to keep this as straightforward as possible.

The FATCA/CRS Self-Certification information will be collected via an online form along with other KYC information which we require for legal, tax and compliances purposes. You will be prompted to complete the KYC data collection & FATCA/CRS self-certification forms after we've reviewed your investor application.

‍Please note: a certification must be completed for each entity under which an investor invests. For example, where an investor has an investment in Tenacious Ventures as an individual and separately via a trust, two certifications must be completed.

About FATCA/CRS

‍The Common Reporting Standard (CRS) is the single global standard for the collection, reporting, and exchange of financial account information on foreign tax residents. Under it, banks and other financial institutions (including Tenacious Ventures) will collect and report to the Australian Tax Office (ATO) financial account information on non-residents, which the ATO will then exchange with participating foreign tax authorities of those non-residents. 

The objectives of the Foreign Account Tax Compliance Act (FATCA) are broadly similar to those of CRS, however, there are several important differences. FATCA applies only to US persons, whereas CRS applies to Reportable Persons, which covers all foreign tax residents. FATCA also requires registration with the US Internal Revenue Service if the entity is classified as a Reporting Financial Institution. There is currently no registration requirement for CRS in Australia.

Tenacious Ventures is not able to provide you with tax or professional advice in respect of FATCA/CRS. We encourage you to seek the advice of an experienced tax or professional adviser in relation to completing this form. 

The Tenacious Ventures Fund II data room includes copies of the following fund documents:

• Information Memorandum
• Subscription Deed
• Partnership Deed
• Trust Deed

The data room can be accessed via this link, and in most instances you should already have access. Otherwise, please contact our COO & Operating Partner, Vela Georgiev, to request access via manager@tenacious.ventures or +61 403 876 008.

A subscription application must be completed for each entity under which an investor invests. Where possible, we will try to minimize duplicate data entry and AML checks, however, please note that some duplication may be unavoidable in order for us to meet our legal and compliance obligations related to AML/CTF and KYC.