> 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/tokenisation-and-legal-structure/actively-managed-certificates-amcs.md).

# Actively Managed Certificates (AMCs)

### Actively Managed Certificates (AMCs)

Once your equity is placed into the fund structure, TheAngel issues Actively Managed Certificates (AMCs), which are:

* Investment notes representing ownership
* Backed by underlying startup equity
* Issued per compartment (per startup)
* Tradeable
* Regulated under EU securitisation law

**This model dramatically increases investor confidence because AMCs:**

* Are standardised financial instruments
* Can be priced transparently
* Can be custody-held
* Have familiar legal status and documentation

Each AMC is a tokenised representation of a real, legally defined security.