Security & Custody

Legal Structuring & Asset Protection

This section details how TheAngel ensures legal clarity and investor protection through professional securitisation structures.

1. SPV Structuring

For smaller raises and simple deals, TheAngel uses Special Purpose Vehicles (SPVs) that:

• Hold startup equity

• Issue tokenised securities

• Keep founder cap tables clean

• Provide clear legal claim for investors

SPVs isolate financial risk and simplify governance.

2. Luxembourg Securitisation Compartments

For scalable, institutional-grade fundraising, TheAngel integrates Filedgr’s securitisation funds.

Key Properties

• Unlimited compartments

• Segregated assets

• Fully bankruptcy-remote

• Each compartment is treated as an independent legal entity

• No cross-contamination of assets

This model protects investors even in worst-case scenarios.

3. Actively Managed Certificates (AMCs)

Tokenised investment instruments are structured as AMCs, standardised financial notes with:

• Performance linked to startup equity

• ISIN identification

• Clear legal documentation

• Compliant issuance under EU law

AMCs are widely recognised in institutional finance.

4. Bankruptcy-Remote Architecture

Filedgr’s orphan foundation structure ensures:

• No beneficial owner

• No external creditor claims

• No operational conflict of interest

• Legal independence between compartments

Source: Filedgr documentation