Sprout deregulation FAQs

For Sprout ceasing to be an FCA appointed representative of Khepri Advisers Limited.

1. Who can I contact for support on this topic?

You can message us at info@viasprout.com with questions about the transition, at any time up until 30 September 2024.‍‍

‍2. What if I have a problem related to Sprout’s services provided to me while I was a user of the platform?

Please reach out to: info@viasprout.com

If you remain unhappy with the outcome of a complaint, eligible complainants may be able to refer to the complaint to the Financial Ombudsman Services at South Quay Plaza, 183 Marsh Wall, London E14 9SR. Telephone 0800 023 4567, or email a complaint to complaint.info@financial-ombudsman.or.uk. Further information, including information about eligibility for the Financial Ombudsman Service, is available at www.financial-ombudsman.org.uk. Professional Clients are not eligible for the Financial Ombudsman Service.

If any fund manager or custodian bank holding your client money owes you money in connection with the services provided, and are unable to pay it, you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS), up to a maximum of £85,000 (subject to change over time).

For more information, including information about eligibility, you can contact the FSCS in writing at 7th Floor, Lloyds Chambers, Portsoken Street, London, E1 8BN by telephone on 0800 678 1100, by email to enquiries@fscs.org.uk or by going to www.fscs.org.uk.

3. Why are we changing our business model?

Going forwards, we will be focusing our efforts on fixing the issue of discovery and connection between LPs and GPs. We will be moving away from our curation approach, instead seeking to show LPs the whole world of private markets.

We will no longer be curating a selection of funds, and no longer syndicating vehicles of smaller tickets to lower the entry point for investors. Instead, each fund will have a different minimum, based on their own policies, and we will be introducing investors directly to funds. Our new model is one of discovery and introduction, rather than curation and syndication.

4. What does Sprout do now?

We’re launching a private markets discovery platform. This will make fund discovery more relevant, and faster than ever, for LPs.

We are focusing on our core audience of family offices and UHNWIs. We also work with experienced, active angels and fund investors (LPs).

To that end, we require a bespoke platform to meet the very specific needs of investors. We have done this, building the brand new Sprout platform from scratch.

5. What will Sprout do with my personal information?

If you have made an investment through the Sprout platform, UK financial regulation requires that your data must be kept by Sprout for the lifetime of that investment and for five years following the end of that investment.

If you have a Sprout account and have never made an investment with Sprout, we are also required to keep relevant information for regulatory purposes.

6. What date will Sprout cease to be an FCA appointed representative of Khepri Advisers Limited?

7th March 2024.

7. What does this mean for me and my investments made via Sprout?

If you invested capital into funds through Sprout, this development should not change anything with respect to those investments.

Your fund investments are held and managed by your applicable fund manager(s), and you will receive reporting and the ability to manage your investments via the Sprout platform. You will have received a link to this by email.

You will continue to be able to log in to view your investments and receive reporting on the Sprout website, by going to https://invest.viasprout.com/.

8. Can I withdraw my funds from the platform?

This is not applicable, as Sprout never held your invested capital. If you invested via a Sprout vehicle, this will be governed by the relevant custodian bank or partner. Each fund manager continues to hold invested capital, and Sprout’s deregulation will not affect this.

9. Can I transfer my investments to another platform or financial institution?

This is not possible. Sprout is not responsible for your investments as your custodians / fund managers have control of your capital. Sprout was just fulfilling the role of a distribution and reporting platform.

10. Where can I receive investor reports?

You may log in to view your investments and investor reports on the Sprout website, by going to https://invest.viasprout.com/, although please note this service is unregulated and there are no warranties provided as to the accuracy of the data on the site.

11. Where are my investments held?

Your investments are held by your selected funds (or respective custodians) and will be (or has already been) invested in startup companies.

12. How does Sprout’s deregulation impact someone that was a user of the platform but did not make any investments via the consumer platform?

Our deregulation has no real effect on these users. We have removed all of these accounts.

13. Is it possible to make new investments on the platform?

It is not possible to make investments via the previous Sprout platform after these changes. We will be launching a new platform, and will communicate full details of the proposition and eligibility in due course.