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meVC.com Offers White-Knuckle VC Ride to the Masses - Page 2

ccording to the filing, the money to meVC takes a detour into the DFJ coffers: "As payment for its services as our Investment Sub-Adviser, meVC Advisers has agreed to pay to Draper Advisers a portion of the management fee equal to 40 percent of any amounts it receives from us, that is an amount equal to 1.0 percent of our average weekly net assets. meVC Advisers has also agreed to pay Draper Advisers additional compensation equal to 90% of any carried interest payment it receives from us, that is an amount equal to 18 percent of our annual realized capital gains net of realized and unrealized capital losses."

While following the money here requires following a circuitous route, it's all pretty standard VC compensation fare.

Like OpenIPO and day trading, this new populist spawn of the Internet age is a new and untested idea facing the hazards of both the IPO and VC markets. Success, however, will certainly buy seats for masses of ordinary people on a white-knuckle, high-G-force ride previously reserved only for the economic elite.

IN A NUTSHELL:

Company Name: MEVC Draper Fisher Jurvetson Fund Inc.
Address: 991 Folsom St., Suite 301, San Francisco, Calif. 94107
Phone: (800) 830-1822
Fax: (415) 977-6160
Contact email address: info@mevc.com
Web address: www.mevc.com
Employees: N/A
Total Funding: $4.5 million
Investors: Draper Fisher Jurvetson


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