Some projects may open in multiple “tranches” (or rounds), which can sometimes be confusing for members who want to confirm exactly which tranche they’re investing in.
1. Look for a “2” or Other Numerical Indicator on the Mini Prop
When a project opens multiple tranches under separate campaigns, you’ll often see the project name followed by a small “2” or subsequent numerical tag.
2. Check the Offering Document
If the project’s name has not changed—yet it appears to have re-opened—be sure to review the Offering Document:
- Current Amount Raised: Look for any updates on how much money the issuer has raised to date to all investors with outstanding securities.
- Prior Crowdfunding Distributions: The document should also mention any distributions the issuer has made to existing investors in the past five years.
- Offering Terms: Even if the campaign has been re-opened, the offering terms might remain the same as the original.
3. Confirm with the Issuer or Our Team
If you’re unsure whether you’re in Tranche 1 or Tranche 2 (or if it’s simply the same campaign re-opened):
- Ask directly in the project’s Discord channel: The issuer or our team can let you know if any details have changed since the previous round.
- Reach out to support: If you have questions about the project’s structure, we’re here to help you navigate the documentation and clarify any confusion.
4. Why Tranches Re-Open or Multiply
- Maximizing Fundraising Windows: An issuer might have reached their initial goal or time limit but then decided to open another round to raise additional funds.
- Separate Campaigns for Reporting: Multiple campaigns (with “2” or another label) help both investors and issuers keep track of each tranche’s progress or milestones more easily.
Key Takeaways
- Multiple Tranches: Look for project names labeled with a numerical indicator.
- Same Offering, Re-Opened: Check the Offering Document for how much has been raised to date and any changes in terms.
- Always Ask: If in doubt, ask the issuer in the project’s channel or contact our support team to ensure you know exactly which tranche you’re joining.