Iberis is extending the Greytech II fund lock-in... probably without your knowledge or consent.

As part of our due diligence process we asked the funds we were considering about the clauses in the in management agreements related to extension periods. One of the fund mangers we spoke to referred us to the CMVM regulations below. (google translated for us!) Article 38 #3 and #4 state that
3 - Participants who vote against the extension may request the redemption of participation units.
4 - The value of the participation unit, the redemption of which is requested under the provisions of the previous number, corresponds to that of the last day of the period initially foreseen for the duration of the venture capital fund, and there must be an auditor’s opinion, prepared in advance not exceeding 30 days from the date of redemption, expressly pronouncing on the valuation of the venture capital fund’s assets.


1 Like

I am an investor in IberisGreytech II fund. I am awaiting the 2023 Tax Year PFIC statement. Has anyone received it yet? I wrote to the investor email a few days ago but have not had a reply.
Thank you ahead of time for any information.

Last year we got it on 3/28. No, i haven’t gotten it yet, but I’m not expecting it until the end of March or early April. As I think was discussed here on nomadgate somewhere, it is pretty normal for K-1s and PFIC statements to be late. You pretty much have to assume you will be filing an extension.

1 Like