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KYB for Multi-Jurisdictional VCs - Practical Pain Points?
Anyone dealing with KYB for VCs or investment funds operating across multiple, distinct regulatory regimes? We're finding it a nightmare trying to standardize documentation requirements and ultimate beneficial owner (UBO) verification when the fund has LPs in three different continents, each with their own interpretation of 'control' and acceptable proof. It's less about the software and more about the fundamental data gathering. How are others coping without drowning in bespoke document requests and legal reviews for every single new investor type? Specific vendor solutions for global UBO attestation are welcome, but really looking for process insights here. This is slowing down capital deployment big time.
1 comments · 2 points
Yeah, it's a mess. We had to basically over-document for every jurisdiction and still ran into issues with UBO definitions. The 'ultimate' part gets really tricky across different legal systems.