LRF will manage the Fund and use the final raise to buy up to six (6) thoroughbred racehorses with the intent of racing at Santa Anita Park, Del Mar and around the U.S.A. Each investor will own a pro-rata percentage of the Fund.
Here’s an Example:
If the Fund raises $200,000:
LRF will use the proceeds to purchase up to three racehorses (and more if the final raise is higher). LRF will also set aside a suitable reserve to pay expenses and operational costs. LRF will purchase the racehorses through traditional industry means. For example, the horses will be purchased:
With 15 years experience, LRF has the industry networking ability to purchase almost any racehorse that is for sale.
Once purchased, the horses will be trained by one of LRF’s trainers and prepare for its first race for the Fund. Investors will be kept intimately abreast of the racing careers of the Fund horses. The hallmark of LRF is its ability to communicate the horse’s journey with its investors. This “inside the locker room” communication provides a wealth of knowledge to both people new to ownership and those that have owned before.
LRF will also provide an accounting summary of all activity and, if applicable, make a distribution of available proceeds to the investors.
The Fund initially plans to dissolve by December 31, 2018. However, if the Fund is financially viable, LRF, at its election, may continue the fund into 2019 and beyond.