> For the complete documentation index, see [llms.txt](https://docs.theangel.app/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.theangel.app/faq-library/investors-faq.md).

# Investors FAQ

### Investor FAQs

<details>

<summary>What exactly am I investing in?</summary>

You are purchasing tokenised investment notes (AMCs) backed by real equity held in a secure legal structure.

</details>

<details>

<summary>Are these tokens legal securities?</summary>

Yes.

Each token represents a regulated securitised note issued by an SPV or Luxembourg compartment.

</details>

<details>

<summary>Can I lose money?</summary>

Yes.

Startup investing is high-risk. Tokenisation improves liquidity and structure, but does not eliminate risk.

</details>

<details>

<summary>Is liquidity guaranteed?</summary>

No.

Quarterly liquidity windows allow trading but do not guarantee that a buyer will be available.

</details>

<details>

<summary>How much can I invest?</summary>

Depends on:

* Your investor classification (retail, angel, HNWI, professional)
* Your jurisdiction

</details>

<details>

<summary>Can I invest from the United States?</summary>

Yes — if you are an accredited investor under Reg D.

</details>

<details>

<summary>Do I get voting rights?</summary>

No.

Tokens represent economic rights, not governance rights.

</details>

<details>

<summary>Do I go on the startup’s cap table?</summary>

No.

The SPV/compartment acts as a single shareholder.

</details>

<details>

<summary>How do I sell my tokens?</summary>

During quarterly liquidity windows, you can place sell orders through the marketplace.

</details>

<details>

<summary>How is token price determined?</summary>

Price is informed by:

* Startup’s quarterly performance
* Updated valuation model (AVM)
* Supply/demand during the window

</details>

<details>

<summary>How often do founders update investors?</summary>

Every quarter.

</details>

<details>

<summary>How do I know founders are legitimate?</summary>

All founders undergo:

* KYC
* Company registry verification
* Adverse media checks
* Cap table checks

</details>

<details>

<summary>How are my investments stored?</summary>

Secure custodial or non-custodial wallet options exist depending on your region.

</details>