Note: This article has been updated to reflect recent changes in the software. Please review the new information to stay up to date with the latest features and improvements.
The waitlist feature was created for the instance where a sponsor is collecting funds for a new offering, and they reach their maximum amount for a capital raise, or the number of accredited investors has reached a limit.
For these cases, investors are not able to get in as well, and the Sponsor has no way of knowing that they were interested. This leads to a potential opportunity loss for both the investor and the sponsor.
InvestNext has created a feature called Waitlist, where investors can go through a soft commitment flow or create an interested form so the Sponsor can reach out to the investor for future deals.
Step-by-Step Instructions:
Step 1. Enable the waitlist feature by going to Capital Raises, select the applicable capital raise, and go into Settings:
Step 2. Once in Settings within the capital raise, enable “Auto-close” and click the checkmark to enable Waitlist.
Note: If the sponsor disables the waitlist, the “thank you” message in the offering will be disabled
Step 3. When a Capital raise has reached the maximum commitment, investors will be able to waitlist themselves for future opportunities.
When several classes are available and some are oversubscribed, the investor gets the option to join the waitlist.
Once the waitlist submission has been made by the investor, from the Opportunities page of the capital raise, sponsors will see "Waitlist Request" labeled opportunities. This labeling allows sponsors the ability to easily decipher between waitlist requests and regular opportunities.
Managing a Waitlist Request
Approving/Rejecting a Waitlist Request
Step 1. Sponsors can approve or decline all waitlist requests by navigating to the Capital Raise > Opportunities tab and selecting the Waitlist Request labeled opportunity.
Step 2. Once an investor is approved, the investor will receive an email that invites them to invest and directs them to the commitment flow to complete their in
After approving a waitlist request (before the investor takes any action), the Waitlist request can be canceled by the sponsor directly within the Commitment details. Canceling the request will remove the Waitlist Commitment, but the investor Opportunity will still be present within the Capital Raise.
Investor view:
When a Capital raise has reached the maximum commitment, investors will be able to waitlist themselves for future opportunities. Under the Offering section, the investor will see the option to join a waitlist from the investor portal:
When several classes are available and some are oversubscribed, the investor gets the option to join the waitlist.
After selecting a class and inputting their soft commitment amount, investors will see a "Thank You" screen.