Relationships and Dependencies
This section outlines the key interactions and dependencies between entities within Monark Markets' Primary Offering API. It provides a structured overview of the investment flow, detailing how partners, investors, and SPV managers interact throughout the lifecycle of an investment, from onboarding and qualification to execution and tracking.
- Partner → Financial Institution
- Partners are associated with one, or multiple Financial Institutions. Each time a downstream B2B client of a Partner is onboarded onto the marketplace, a unique ID will be created for the Financial Institution.
- Every investor will be associated with one Partner and one Financial Institution.
- If a Partner holds a direct relationship with an Investor, a "default" Financial Institution ID will be associated with that investor.
- Partner → Investor
- Partners manage their Investors. This includes investor creation, accreditation, questionnaires, and subscriptions.
- Partners control Investor access to the marketplace and ensure compliance with KYC/AML and other regulatory requirements.
- Investor → Questionnaire
- Investors complete Questionnaires.
- Questionnaire responses are linked to specific Investors.
- Partners can view aggregated Questionnaire response data for their own Investors.
- Investor → Accreditation Status
- Investors self-certify accreditation status under Rule 506(b).
- Accreditation is required to be updated every 12 months.
- Verifying accreditation is a prerequisite to viewing the private company marketplace.
- Investor → IndicationOfInterest → PreIPOCompany
- Investors submit IOIs for specific companies. The submission of an IOI does not require an investor to subscribe to an SPV if one becomes available for that company.
- Investors can create, update, and/or delete IOIs.
- IOIs are tracked and aggregated to gauge interest in private companies.
- Monark leverages aggregated IOI data to inform SPV creation decisions.
- PreIPOCompany → PreIPOCompanyInvestment → PreIPOCompanySPV
- Companies have specific investment opportunities associated with them. Investments describe the transaction that takes place in the open market, capturing the nuanced nature of each private company transaction. Investments may contain information such as the number of shares, share class, transaction type (secondary, primary, tender offer, etc) - this information may differ across different investments within the same company.
- One company may be associated with multiple investments, each with its own unique identifying characteristics.
- Investments are held by SPVs. Currently, each SPV has a 1:1 correlation with an investment.
- SPVs track allocation and subscription details
- Investor → PreIPOCompanySubscription → PreIPOCompanySPV
- Investors subscribe to, or purchase shares in, SPVs. The number of shares available in the SPV is equal to the number of shares in the underlying company held by the SPV.
- Subscriptions track investment amounts and status of the investment.
- SPVs manage the overall allocation, ensuring that sufficient capital is raised in order to facilitate the transaction.
Updated about 5 hours ago