Key Investor Information Document (KIID)
Updated on 1st February 2020
This document provides you with essential information you should know about this investment product. It is not marketing material. It is information required by law to help you understand the nature, risks, costs and potential benefits and losses of this product and to help you compare it with other products.
The product consists of units of a Venture Capital Entity (hereinafter, "ECR") of those included in Law 22/2014, of November 12, 2014, regulating venture capital entities, other closed-end collective investment entities and management companies of closed-end collective investment entities (hereinafter, the "LECR") and, in particular in a European Venture Capital Fund (hereinafter, "EuVECA") included in Regulation (EU) 2017/1991 of the European Parliament and of the Council of 25 October 2017 amending Regulation (EU) n.No 345/2013 on European Venture Capital Funds and Regulation (EU) No 346/2013 on European Social Entrepreneurship Funds (the "REuVECA").
The product is marketed and will be managed by Sabang Investments SGEIC, SA (hereinafter, the "Management Company"), with website address www.thelabventures.com.
For more information about the product, please call 900 535 015 where the Comisión Nacional del Mercado de Valores (hereinafter, the "CNMV") will provide you with such information.
This document was prepared on 01/02/2020.
You are about to purchase a product that is not simple and may be difficult to understand.
What is this product?
Shares of an ECR, particularly of a CRF.
The objective is to generate value for its unitholders by taking temporary holdings in non financial and non-real estate companies which, at the time of taking the holding, are not listed on the first market of the stock exchanges or any other equivalent regulated market in the European Union or other OECD member countries.
In any case, the investments of the FCRE will be subject to the limitations set forth in REuVECA and in articles 9 to 19 of the LECR and other applicable provisions.
However, there is no guarantee that the investments undertaken will be adequate and successful.
Target retail investor
Investors who meet the following requirements:
- Commit to invest at least EUR 100,000.
- That they declare in writing, in a document separate from the contract relating to the investment commitment, that they are aware of the risks associated with the planned commitment.
Retail investors shall be understood as those described in Article 204 of Royal Legislative Decree 4/2015, of October 23, which approves the revised text of the Securities Market Law, and particularly, Article 75.2 of the LECR.
What risks do I run and what could I get in return?
The scenarios presented illustrate the profitability of your investment. You can compare them with scenarios for other products.
The scenarios presented are an estimate of future returns based on past data on the variation of this investment and are not an exact indicator. What you will receive will vary depending on market developments.
The stress scenario shows what you could receive in extreme market circumstances, and does not take into account a situation where we are unable to pay you.
The figures presented include all product costs: but may not include all costs you may have to pay to your consultant or distributor. The figures do not take into account your personal tax situation, which may also influence the amount you receive.
This graph illustrates the return your investment could earn. You can compare it to the payout charts of other derivatives. This chart presents a range of possible outcomes and is not an exact indication of what you may receive. What you receive will vary depending on the performance of the underlying. The graph shows the gain or loss of the product for each value of the underlying. The purchase of this product assumes that you think the price of the underlying will increase. Your maximum loss would be that of your entire investment.
What happens if the Management Company is unable to pay?
Investments will generally be made in markets where there are no liquid clearing mechanisms. The fees and expenses of the CEMF affect the valuation of the CEMF. In addition, during the life of the FCRE there may be regulatory changes (including tax or regulatory changes) that could have an adverse effect on the FCRE, its unitholders, or its investments. As a result, there can be no assurance that the FCRE will be able to achieve its investment objectives or that investors will receive a return of invested capital.
What are the costs?
Composition of costs
How long do I have to keep the investment, and can I withdraw money early?
The product is of a closed nature, with no transmission or issuance of the product to third parties. Likewise, the product does not have redemption mechanisms ("liquidity windows") at the investor's request.
How can I make a claim?
Any complaint relating to the conduct of the Management Company may be brought directly to the attention of the Management Company.
Any complaint regarding the product or the conduct of the Management Company about this product may be submitted in writing to:
- Jurisdiction: Spain
- Mailing Address : Arbea Campus Empresarial, Parque, Edificio 2, Ctra. Fuencarral a Alcobendas, km 3, 8, 28108 Alcobendas, Madrid
- Email address: email@example.com
- Web site: thelabventures.com
Other information of interest
Any additional documentation in relation to the product will be published on the Management Company's website www.thelabventures.com, in accordance with legal requirements, and, in any case, in the Prospectus and the ECR Management Regulations.
In order to obtain more detailed information - and in particular details of the structure and risks associated with an investment in the product - you should read these documents. These documents are also available free of charge on the CNMV website (www.cnmv.es/portal/home.aspx).