Am I a Wholesale Investor?

Most First Light Capital offers are wholesale investment offers which means only Wholesale Investors can invest in them.

Who is a Wholesale Investor?

To qualify as a Wholesale Investor, you must meet the criteria set out in Schedule 1 of the Financial Markets Conduct Act 2013 (FMCA). There are several ways you can qualify as a Wholesale Investor including the following:

Are you a Large Investor?

You are a large investor if you and your controlled entities as at the last day of each of the last 2 financial years have net assets or a total turnover exceeding $5,000,000

Are you an Investment Business?

You are an investment business if your principal business is investing in, trading in, underwriting or providing financial advisor or broker services in relation to financial products. For example, banks, investment banks, brokers, manager of a registered managed investment scheme or licensed financial advisers and professionals who invest on behalf of other people.

Do you own or control, or have you acquired, a portfolio of Specified Financial Products of a value in aggregate of at least $1m over the last 2 years, or have you been employed or engaged in an Investment Business for at least 10 years and for at least 2 years participated to a material extent in investment decisions?

Specified Financial Products includes:

  • Debt securities
  • Equity securities
  • Managed investment products
  • Derivatives

Term deposits, Kiwisaver funds, cash surpluses residential property, standalone commercial property, are excluded.

Are you investing at least $750,000 in an offer?

Talk to us first if you think you qualify

Are you an Eligible Investor?

To qualify as a certified Eligible Investor, you need to demonstrate your track record of investment experience. We take the following into consideration:

Have you previously invested in First Light Capital offers or similar offers?

This includes other commercial and/or industrial property managed investment schemes or other types of syndicated investments

What is your investment background in other Financial Products?

This includes how often you invest in Financial Products, your current portfolio of Financial Products, and whether you are able to assess the merits and risk of such Financial Products

Do you have any relevant experience that might support your application?

This includes financial qualifications, experience working in the financial services industry and/or property industry, and whether you have taken any training courses relating to commercial property.

The following types of investments do not qualify you as an Eligible Investor

Term deposits, Kiwisaver funds, cash surpluses, residential property, standalone commercial property

Please refer to the Application Form attached to the Investment Statement for the offer which provide full details of the Eligible Investor and other Wholesale Investor criteria.

Eligible Investors will need to provide us with an Eligible Investor Certificate which certifies that you fit within the FMCA requirements for this exclusion. The content of this certificate is prescribed by the FMCA. The certificate must be signed-off by an advisor (lawyer, authorised financial advisor, or chartered accountant) who is independent of the offeror. Both certificates are available in the Application Form. Eligible Investor Certificates are valid for two years unless you have revoked this earlier.

All Wholesale Investors (including Eligible Investors) will need to provide us with a Safe Harbour Certificate in the name of the person who will make the investment. This is available in the Application Form. Safe Harbour Certificates are valid for two years unless you have revoked this earlier.

Randolph van der Burgh
September 16, 2021

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