Raised
$158K
Investors
26
Min Invest
$1,000
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AltStreet Analysis
·Generated from EDGAR primary sources
OwnLocal I Fund, a series of Wefunds LLC, filed under Rule 506(b) on August 21, 2015, raising $158K from 26 investors with a $1K minimum investment. The filing was submitted by Michael Norman (Promoter) and is part of the Wefunder platform ecosystem, which operates 101 related EDGAR entities in the pre-IPO investment space.
This pooled investment fund represents a typical early-stage crowdfunding-era offering under the 506(b) private placement exemption. The $1K minimum investment and relatively small average check size (~$6K per investor) are characteristic of retail-accessible syndicate vehicles on platform-mediated pre-IPO marketplaces from this period.
Data Flags
EDGAR Filing Data
Form D — Primary Source
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Filing events
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none on file
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Statements extracted
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none on file
NAV prints
0
none on file
Offering chains
0
none on file
Investor
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Related Persons (Form D)
Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.
Michael Norman
Promoter · Cambridge, MA
Questions About OwnLocal I Fund, a series of Wefunds LLC
Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.
What is OwnLocal I Fund, a series of Wefunds LLC?
OwnLocal I Fund, a series of Wefunds LLC is a Delaware limited liability company organized in 2015 that filed a Form D with the SEC on August 21, 2015 as a venture capital fund. The filing claims Rule 506(b) for an offering of pooled investment fund interests. AltStreet links the issuer to Wefunder.
Is OwnLocal I Fund, a series of Wefunds LLC legit?
AltStreet does not rate legitimacy; it reports the public record. OwnLocal I Fund, a series of Wefunds LLC filed a Form D with the SEC on August 21, 2015 claiming Rule 506(b). A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $157,701 sold to 26 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. The issuer is linked to Wefunder, which AltStreet has reviewed. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.
Is OwnLocal I Fund, a series of Wefunds LLC registered with or approved by the SEC?
No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that OwnLocal I Fund, a series of Wefunds LLC claimed Rule 506(b) and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.
How much has OwnLocal I Fund, a series of Wefunds LLC raised?
OwnLocal I Fund, a series of Wefunds LLC reported $157,701 sold from 26 investors of a $157,701 total offering as of the Form D filed August 21, 2015.
Who can invest in OwnLocal I Fund, a series of Wefunds LLC?
The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. The filing reports no non-accredited investors. The minimum investment accepted from an outside investor is $1,000.
What is the minimum investment in OwnLocal I Fund, a series of Wefunds LLC?
The Form D lists $1,000 as the minimum investment accepted from any outside investor as of August 21, 2015. Issuers can waive their own minimums, and the figure does not include fees.
Who is selling OwnLocal I Fund, a series of Wefunds LLC and how are they paid?
The Form D names no recipient of sales compensation, which usually means the issuer or its affiliates are placing the securities directly. Sales commissions are reported as $0 and finders' fees as $0. Form D allows these to be estimates.
Who is behind OwnLocal I Fund, a series of Wefunds LLC?
The Form D lists 1 related person: Michael Norman, promoter (Managing Member of Wefunds LLC). Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.
Where is OwnLocal I Fund, a series of Wefunds LLC located?
The issuer's address on its SEC filings is C/O Wefunds LLC, 1 Broadway St. 14th Floor, Cambridge, MA 02142. Its phone number of record is 401-473-3647. It is organized under the laws of Delaware.
How long is the OwnLocal I Fund, a series of Wefunds LLC offering open?
The issuer indicated that the offering is intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open, and no amendment is on record yet.
How large is OwnLocal I Fund, a series of Wefunds LLC?
The issuer declined to disclose its revenue range on the Form D, which the form permits.
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Data Methodology
Capital raise figures, investor counts, and filing dates are sourced directly from SEC EDGAR Form D primary documents via the SEC EDGAR submissions API and full-text search index. EDGAR entity profiles and deal-level data are reviewed by AltStreet analysts with backgrounds in corporate finance and securities law — cross-referenced against offering circulars, audited financial statements, and primary regulatory filings before publication. Platform-provided information, where present, is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. Platforms may request factual corrections for demonstrable inaccuracies by contacting [email protected]. This page does not constitute investment advice.