Question 1

What is WeFunds Wefunder VII, a series of Wefunds LLC?

Accepted Answer

WeFunds Wefunder VII, a series of Wefunds LLC is a Delaware limited liability company that filed a Form D with the SEC on October 6, 2022 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.

Question 2

Is WeFunds Wefunder VII, a series of Wefunds LLC legit?

Accepted Answer

AltStreet does not rate legitimacy; it reports the public record. WeFunds Wefunder VII, a series of Wefunds LLC filed a Form D with the SEC on October 6, 2022 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 $856,828 sold to 174 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.

Question 3

Is WeFunds Wefunder VII, a series of Wefunds LLC registered with or approved by the SEC?

Accepted Answer

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 WeFunds Wefunder VII, 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.

Question 4

How much has WeFunds Wefunder VII, a series of Wefunds LLC raised?

Accepted Answer

WeFunds Wefunder VII, a series of Wefunds LLC reported $856,828 sold from 174 investors of a $856,828 total offering as of the Form D filed October 6, 2022.

Question 5

Who can invest in WeFunds Wefunder VII, a series of Wefunds LLC?

Accepted Answer

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 $3,000.

Question 6

What is the minimum investment in WeFunds Wefunder VII, a series of Wefunds LLC?

Accepted Answer

The Form D lists $3,000 as the minimum investment accepted from any outside investor as of October 6, 2022. Issuers can waive their own minimums, and the figure does not include fees.

Question 7

Who is selling WeFunds Wefunder VII, a series of Wefunds LLC and how are they paid?

Accepted Answer

The Form D names no recipient of sales compensation, which usually means the issuer or its affiliates are placing the securities directly.

Question 8

Who is behind WeFunds Wefunder VII, a series of Wefunds LLC?

Accepted Answer

The Form D lists 1 related person: Nicholas Tommarello, promoter (Officer of the manager's member). Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.

Question 9

Where is WeFunds Wefunder VII, a series of Wefunds LLC located?

Accepted Answer

The issuer's address on its SEC filings is 1 Broadway, Cambridge, 14th Floor, Cambridge, MA 02142. Its phone number of record is 5106982462. It is organized under the laws of Delaware.

Question 10

How long is the WeFunds Wefunder VII, a series of Wefunds LLC offering open?

Accepted Answer

The issuer indicated that the offering is not 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.

Question 11

How large is WeFunds Wefunder VII, a series of Wefunds LLC?

Accepted Answer

The issuer declined to disclose its revenue range on the Form D, which the form permits.