It’s hard to believe it's the final day of 2022. What a year! We are excited about what’s to come in 2023... read on for a sneak peak into the most frequently asked features *cough* K-1 services. 👏
Let’s start with some numbers. Today, Tribevest has more than 1,500 Tribes who are transacting in a big way. Our Tribes have pooled over $36M capital on the platform and completed over 1,200 deals!
More than half of our Tribes invest in more than one asset class. Real estate investments lead the way:
- 53% of Tribes investing in multi-family properties
- 32% investing in single family rentals including vacation homes
- 32% in syndications
Tribes also diversify through these assets:
- 45% invest small business ventures
- 24% invest in stocks
- 22% invest in cryptocurrency
- 7% invest in collectibles
They are making strides in their wealth journey and that’s what we are all about: taking action and building wealth, together.
$900,000 Raised by You
In September we raised $900,000 through a community round on Wefunder because our Tribes wanted to invest in Tribevest. Over 400 investors raised their hands and made the decision to invest anywhere from $100 to $100,000.
“I’m overwhelmed by the support of our Tribevestors who believe in the power of personal community finance,” said Travis Smith, Founder and CEO of Tribevest. “As we bring more and more tribes onto our platform, the number one question we receive is, ‘how do we invest in your company and be part of this journey with you?’ We’re built on the concept that you can accomplish more as a team. That is what this round represents.”
Big Product Improvements
On the product side, we’ve launched powerful features that continue to help make group investing to be easy, safe, and transparent for you. From improved cap table management to representing yourself as an LLC within your Tribe and integrations, 2022 has been a big year.
Growing Transparency
We took big strides to update our cap table management experience to support more advanced equity structures. With this, your tribe has the flexibility to:
✅ Represent “Sweat Equity” through reserved equity values
✅ Tie only a portion of the overall equity pool to capital contributions
✅ Take complete manual control over assigning equity values
✅ Assign officer titles and responsibilities for your tribe
From start to finish, you can now generate, sign and maintain your Tribe’s operating agreement directly from the platform to ensure your tribe is built on a solid, transparent foundation.
✅ Generate an agreement based on your unique bylaws and settings
✅ Share and review with your tribe
✅ Collect signatures from all members for execution
✅ Reference and amend the agreement throughout your tribe’s lifespan
Improvements have been made to Tribe contributions. This new view gives you the entire history of your Tribe's contributions. In addition, you can now easily navigate between funding rounds, cap table, and cap ledger to provide visibility into funds being contributed as well as each member's equity. Additionally, you can track the status of all members' contributions.
🧭 Navigate the app easily with new, intuitive menu
⭥Find transactions easier with advanced filtering and sorting
💵 Make single contributions without a funding round
Making Our Platform Safer
A more secure platform is safer for everyone.
This year, we made changes to the security features around adding personal accounts, opening business accounts and conducting safe and monitored transactions. We've leveraged the best industry encryption and security practices to ensure that Tribevest is a safe place to save and financially collaborate with your Tribe.
Easier Than Ever
We’re committed to making it easier for you to invest as a group. Earlier this year, we completely overhauled Tribe Setup giving you more control over setting up your Tribe and the next steps you need to take whether it’s adding members or getting your LLC filed.
Our services have been integrated with all Intuit and Yodlee products, including Quickbooks, Mint, and Stessa to name a few, so you can connect Tribevest with tools that help run your investor group with ease.
If you’ve already got your own LLC, bring it with you to Tribevest! And if you want to form an LLC for your Tribe, but want to represent yourself as an LLC, you can do that too with Business Profiles.
Looking Ahead
2022 has been a year laying the foundation and building out the core Tribevest platform. As we head into 2023 we are excited about expanding the platform through deal, community and service partnerships to serve you even better.
This includes bringing you K-1 services, deal options, and our mobile app. Keep your eyes peeled for updates!
If your New Year's resolution includes building wealth - Tribevest is a great way to share the journey with your friends and family.
