According to our data Q2 tends to have the most funded deals of the year. Since most offerings last around 4 months, launching in Q4 might be smart. Of course, there are other factors that play into account like whether the issuer is a startup or established and what geopolitical or macroeconomic events are pressuring investors. 

Yes, there are websites and companies that aggregate crowdfunding deals that are active (as well as other types of deals).

Some of these primary deal aggregators include:

1. KingsCrowd ("Trusted by over 475,000 investors to vet startup investments from 60+ online investment platforms")

2. so.capital ("Equity Crowdfunding, Donation Crowdfunding, NFTs, Alternative Assets")

3. Vincent ("exempt reporting adviser in the alternative investment space")

4. CrowdLustro ("Reg CF, Collectibles, Real Estate, NFTs, & other alternative assets")

5. Alts.co ("alternative assets" -- more than just crowdfunding)

6. Sharky - ("Discover startups like a pro!")

7. Investibule - ("Investibule opens the door to community investments - aggregating opportunities across 30+ platforms.")

For those looking for deals outside the US, there are other aggregators (e.g. CrowdInvest - "Invest in promising start-ups in India from the UK"). As with any service provider, it's important to verify information listed on these sites with information on the site of the funding portal or provided by the issuer. 

Completely different process for the two sorts of offering.

In a Reg CF offering, the Form C is filed with the SEC and the moment it shows up on the EDGAR system, the issuer can start accepting investment commitments on the intermediary's site. The SEC does not review or sign off in any way. That doesn't mean they (and other regulators) aren't looking, though!

In a Reg A offering, the SEC must review and "qualify" the offering before it goes live. (We don't use the term "approve"; the SEC never approves or blesses offerings.) If it's a Tier 1 Reg A offering, the states that the offer will be made into also have to sign off.

In both cases, you can "test the waters" before filing or qualification, but any materials you use to test the waters need to be filed with the SEC.

Regulation Crowdfunding (Reg CF) and Reg CF are the same thing, Reg CF refers to Title III of the JOBS Act, which is also known as Regulation Crowdfunding. It is a set of rules and regulations put in place by the Securities and Exchange Commission (SEC) that allows small businesses and startups to raise funds from a large number of investors through crowdfunding platforms.

Regulation Crowdfunding allows companies to raise up to $5 million in a 12-month period from both accredited and non-accredited investors, via crowdfunding platforms that are SEC-registered intermediaries. The process of Reg CF is different from traditional fundraising methods, such as IPOs, venture capital, and angel investing, as it allows companies to raise money from a large number of small investors through online platforms.

Reg CF is a relatively new regulation and it has provided small businesses and startups with a new way to raise funds, by allowing them to tap into a large pool of potential investors. This has also opened up investment opportunities for smaller investors who may not have been able to participate in traditional fundraising methods.

In summary, Reg CF and Regulation Crowdfunding are the same thing, it's the legal framework that allow companies to raise funds from a large number of investors through crowdfunding platforms, by complying with certain rules and regulations set by the SEC.

As someone who believed in the power of community and collective action to bring about change, I would likely see the benefits of crowdfunding and impact investing. These forms of financing allow individuals to pool their resources together to support causes and businesses that align with their values and beliefs.

Crowdfunding, in particular, has the potential to provide small businesses and startups, particularly those owned by minorities and disadvantaged communities, with access to much-needed capital. This can help to create jobs and stimulate economic growth in these communities, which is vital to achieving true equality and justice.

Impact investing, on the other hand, allows individuals to invest in businesses and projects that not only provide financial returns but also have a positive social and environmental impact. It is a way for people to use their financial resources to promote sustainable development and address pressing global issues such as poverty, climate change, and inequality.

I would also see the potential of crowdfunding and impact investing to provide a way for marginalized communities to take an active role in shaping the economy and society. It empowers people to use their financial resources to promote causes and businesses that align with their values and beliefs, instead of being passive recipients of charity.

In summary, I would see the benefits of crowdfunding and impact investing as a way for individuals to use their financial resources to promote economic justice, sustainable development and empower marginalized communities to shape their own future.

In the United States, companies looking to raise funds through crowdfunding must comply with the rules and regulations set forth by the Securities and Exchange Commission (SEC) in Regulation Crowdfunding. Some of the requirements for companies include:

- The company must be organized in and have its principal place of business in the United States.
- The company must provide certain disclosures to the SEC and to potential investors, including financial statements and information about the management team and the business.
- The company may only raise a certain amount of money in a 12-month period, currently $5 million
- The company must use an SEC-registered intermediary, such as a broker-dealer or a funding portal, to conduct the crowdfunding offering.
- The company must also provide certain investor protection measures, such as allowing investors to cancel their investment commitments within a certain period of time.
- The company must also make sure that their campaign adheres to anti-fraud regulations and that their investors are accredited or not.

It is important to note that these requirements and rules are subject to change and depending on the legislation of different countries the requirements may vary.

Hi Ray,

Congratulations on your graduation from law school. I always recommend to someone new to investment crowdfunding to start by visiting a platform looking around, finding a company you like, and investing in the company. Experiencing a crowdfunding campaign as an investor is a significant first step. Going through the due diligence process reviewing the form C to get a better understanding of the required compliance and then experiencing the marketing and investor acquisition process reading campaign page updates, asking questions, reading the responses from the founders and reading your emails, attending founder webinars, and engaging the investor community with your questions and insights. This would be the first step in better understanding the process as an investor. I find the larger platforms do a great job of providing regulatory information for both investors and founders so digging into the FAQ section will provide some deep practical insights into the process. If you enjoy the process begin looking for your place in the industry connecting with the platforms and securities attorneys to learn that aspect of the business.  

It is difficult to predict exactly how regulated investment crowdfunding will evolve in 2023, as it depends on a variety of factors such as changes in the regulatory environment, technological developments, and market trends. However, here are a few potential developments that could shape the future of regulated investment crowdfunding:

1. Increased use of blockchain technology: Blockchain technology could potentially be used to streamline the crowdfunding process, making it faster and more secure.

2. Development of new regulatory frameworks: Governments around the world may develop new regulatory frameworks to address the unique challenges and opportunities presented by crowdfunding.

3. Growing popularity of alternative forms of financing: Crowdfunding may become more popular as an alternative to traditional forms of financing, such as bank loans or venture capital.

4. Increased competition: As crowdfunding becomes more popular, more platforms may enter the market, leading to increased competition among platforms.

5. Greater focus on investor protection: As the industry evolves, there may be a greater focus on protecting the interests of investors, including through the use of measures such as disclosure requirements and investor education.

Overall, it is likely that regulated investment crowdfunding will continue to grow and evolve in the coming years, with a focus on using technology to improve the efficiency and effectiveness of the process. 

*Written by OpenAI's ChatGPT* 

@Brian Belley, @Jenny Kassan and @Sara Hanks, I wonder if you have thoughts about where to incorporate a benefit corp.

This is a great question! @Brian Belley recently told me that the average investment via Reg CF is about $750. That suggests there is some room to budget for marketing. On the other hand, investors plopping down $100 leave very little room. I hear ranges of from 10 to 30% for marketing budgets. Using 20% against the average of $750 would suggest the cost of investor acquisition is $150--far more than a common $100 minimum investment. I hope Brian or others can add more color to this conversation.