Public Solicitation of Investments

As some of you are aware, in September it technically became legal for entrepreneurs to publicly solicit investments through advertising, social media, etc.  However, the SEC has yet to set final rules for doing so.  For instance: what disclosures must be made and when, etc.  For this reason, wise entrepreneurs will approach the process cautiously and retain competent legal advice prior to any such solicitation.

Due to the change allowing public solicitation, (aka general solicitation), AngelList created a means for public fundraising through its site.  AngelList says that 3,000 entrepreneurs have signed up and have raised over $8MM, although not all of the money was through the new public-fundraising option.

This is worth checking out if you are in the fundraising mode.