{"id":164,"date":"2024-01-30T19:15:05","date_gmt":"2024-01-30T19:15:05","guid":{"rendered":"http:\/\/34.121.138.169\/?page_id=164"},"modified":"2024-07-17T14:10:06","modified_gmt":"2024-07-17T14:10:06","slug":"faq","status":"publish","type":"page","link":"https:\/\/driftcapital.com\/?page_id=164","title":{"rendered":"FAQ"},"content":{"rendered":"\n<div class=\"container\">\n<div class=\"faq_container\">\n<div class=\"accordion\">\n    <h2 class=\"subtitle\">FAQ<\/h2>\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">How does it work?<\/button>\n    <div class=\"accordion-content\">\n      <p>Drift Capital is structured as a closed-end fund, like that of private equity and venture capital firms. Drift Capital Fund I, L.P. (the \u201cFund\u201d) allows investors (Limited Partners) to buy partnership interests, representing ownership in the Fund\u2019s assets: collector automobiles. Each Limited Partner has a dedicated account held with our banking partner. As assets are acquired, capital is called from the Limited Partners to fund their capital account, and as assets are sold, their proceeds are distributed to the Limited Partners\u2019 capital accounts.<\/p>\n    <\/div>\n  <\/div>\n<div class=\"accordion-item\">\n    <button class=\"accordion-header\">Is there an investment minimum?<\/button>\n    <div class=\"accordion-content\">\n      <p>While there is no minimum investment in Fund, a typical allocation to collectibles is 5% of investible assets.<\/p>\n    <\/div>\n  <\/div>\n\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">What are the requirements to being able to invest?\n<\/button>\n    <div class=\"accordion-content\">\n      <p> Partnership interests in Drift Capital Fund I, L.P. are offered under Regulation D Rule 506(c) under the Securities Act. As required under U.S. federal securities law, all purchasers in the offering must:<br><br>\n1. Qualify as accredited investors<br>\n2. Provide the necessary information for the issuer to verify that the investor is accredited<br>\n3. Complete a private offering questionnaire <\/p>\n    <\/div>\n  <\/div>\n\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">How do I invest in the Fund?\n<\/button>\n    <div class=\"accordion-content\">\n      <p>Please <a href=\"\/?page_id=12\">contact us<\/a> to get in touch with someone from Drift Capital\u2019s Investor Relations team.<\/p>\n    <\/div>\n  <\/div>\n<div class=\"accordion-item\">\n    <button class=\"accordion-header\">Who can invest in the Fund?<\/button>\n    <div class=\"accordion-content\">\n      <p>Participation in Drift Capital\u2019s offering is available to accredited investors and qualified purchasers.<\/p>\n    <\/div>\n  <\/div>\n\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">What are the criteria for an individual to qualify as an accredited investor?<\/button>\n    <div class=\"accordion-content\">\n      <ul>\n  <li>Earned income that exceeded $200,000 (or $300,000 together with a spouse or spousal equivalent) in each of the prior two years, and reasonably expects the same for the current year.<\/li>\n  <li>Has a net worth over $1 million, either alone or together with a spouse or spousal equivalent (excluding the value of the person\u2019s primary residence and any loans secured by the residence (up to the value of the residence)).<\/li>\n  <li>Are a broker or other financial professional holding certain certifications, designations, or credentials in good standing, including a Series 7, 65 or 82 license.<\/li>\n<\/ul><br>\n<p>\nA spousal equivalent means a cohabitant occupying a relationship generally equivalent to that of a spouse. Please visit the U.S. Securities and Exchange Commission for more information on qualifying criteria. <\/p>\n    <\/div>\n  <\/div>\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">What is the term of the Fund?<\/button>\n    <div class=\"accordion-content\">\n      <p> Drift Capital Fund I, L.P. (the \u201cFund\u201d) has a 10-year term with an extension of up to two additional years. Automobiles are expected to be bought and sold throughout the life of the Fund. <\/p>\n    <\/div>\n  <\/div>\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">When will Drift Capital liquidate its assets?<\/button>\n    <div class=\"accordion-content\">\n      <p>Automobiles are expected to be bought and sold throughout the life of the Fund, with an average holding period of 5+ years.\n<\/p>\n    <\/div>\n  <\/div>\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">How is capital returned to investors?<\/button>\n    <div class=\"accordion-content\">\n      <p> When the assets are divested from the portfolio throughout the life of the Fund, the proceeds from the sale are disturbed <i>pro rata<\/i> to the Limited Partners\u2019 capital accounts. The Fund has a European-style distribution waterfall. All distributions from the sale of investments will go to the LPs, with the GP not participating in any profits until the investors\u2019 initial committed capital has been fully returned. <\/p>\n    <\/div>\n  <\/div>\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">Is the offering available to international investors?<\/button>\n    <div class=\"accordion-content\">\n      <p>Yes, the offering is available to investors outside of the United States.<\/p>\n    <\/div>\n  <\/div>\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">What cars does the Fund invest in?<\/button>\n    <div class=\"accordion-content\">\n      <p>Please <a href=\"\/?page_id=12\">contact us<\/a> to get in touch for more information.<\/p>\n    <\/div>\n  <\/div>\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">How does Drift Capital decide which cars to invest in?<\/button>\n    <div class=\"accordion-content\">\n      <p>Please explore the <a href=\"\/?page_id=8\">Research<\/a> section of the website for detailed information.<\/p>\n    <\/div>\n  <\/div>\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">Do investors in the Fund get to drive the cars?<\/button>\n    <div class=\"accordion-content\">\n      <p>As a perk to investing in the Fund, some of the cars in the Fund can be driven by the Limited Partners. Drift Capital will put on quarterly events that provide experiential access to these remarkable automobiles.<\/p>\n    <\/div>\n  <\/div>\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">Where are the automobiles stored and how are they maintained?<\/button>\n    <div class=\"accordion-content\">\n      <p>The Fund\u2019s assets are stored in a highly secured facility in conditions that are optimized for long-term storage. The automobiles are maintained and overseen around-the-clock by a dedicated team of make- and model-specific technicians.<\/p>\n    <\/div>\n  <\/div>\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">Where does Drift Capital find its cars?<\/button>\n    <div class=\"accordion-content\">\n      <p>With relationships across all facets of the automotive industry, Drift acquires assets from a variety of venues\u2014engaging marque-specific expertise to provide assurance of\u00a0authenticity. If you are a collector, automaker, broker, dealer, museum, or auction house and would like to get in touch, please <a href=\"\/?page_id=12\">reach out to us.<\/a><\/p>\n    <\/div>\n  <\/div>\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">Are the Fund\u2019s automobiles insured?<\/button>\n    <div class=\"accordion-content\">\n      <p>Yes, the Fund\u2019s assets are fully insured upon acquisition.<\/p>\n    <\/div>\n  <\/div>\n  <div class=\"accordion-item\">\n    <button class=\"accordion-header\">How does Drift Capital assess changes in the value of its assets throughout the life of the fund?<\/button>\n    <div class=\"accordion-content\">\n      <p>Drift Capital utilizes a team of independent appraisers to perform quarterly appraisals of the portfolio to ensure unbiased, consistent, and fair representation of any adjustments of the assets\u2019 value.<\/p>\n    <\/div>\n  <\/div>\n<div class=\"add_que\">\n<span style=\"color: #2f2f2f\">Additional questions?<\/span><br\/><a href=\"\/?page_id=12\" style=\"\n    color: #2f2f2f;\n    padding: 11px;\n    display: inline-block;\n    margin-top: 20px;\n    border: 1px solid;\n\">Contact Us<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>FAQ How does it work? Drift Capital is structured as a closed-end fund, like that of private equity and venture capital firms. Drift Capital Fund I, L.P. (the \u201cFund\u201d) allows investors (Limited Partners) to buy partnership interests, representing ownership in the Fund\u2019s assets: collector automobiles. Each Limited Partner has a dedicated account held with our [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-164","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FAQ - Drift Capital<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/driftcapital.com\/?page_id=164\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FAQ - Drift Capital\" \/>\n<meta property=\"og:description\" content=\"FAQ How does it work? Drift Capital is structured as a closed-end fund, like that of private equity and venture capital firms. Drift Capital Fund I, L.P. (the \u201cFund\u201d) allows investors (Limited Partners) to buy partnership interests, representing ownership in the Fund\u2019s assets: collector automobiles. 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