Terms of Use

Updated Oct 20, 2025

These Terms of Use govern your access to and use of the Crowd Street Platform. By accessing the Platform, establishing a login on our Platform, completing a Member Profile, establishing a Member Account, or using any Services, you agree that you have read, understand, and accept all of the terms and conditions contained in these Terms of Use, including our Investment Risks Disclosure, Privacy Policy, and other disclosures provided via the Platform. Your consent to and compliance with these Terms of Use is a condition to your access to and use of the Platform.

If you do not agree to these Terms of Use or any revisions, your sole and exclusive remedy is to terminate your use of the Platform and Services.

We may amend or modify the Terms of Use at any time by posting the Terms of Use on the Platform. We will notify Users of our updated Terms of Use by e-mail, notice on our Platform, or similar means. The revised Terms of Use shall be effective on the date posted, but will not apply retroactively. Your continued access to or use of the Platform or Services after posting of revised Terms of Use constitutes your acceptance of the revised Terms of Use.

1. Services

Crowd Street Services. Crowd Street provides Users with an array of Services and content, including educational materials, financial tools, investment information, and investment opportunities, and facilitates Members’ investment transactions, performance monitoring, and other functions and services. Crowd Street does not provide any tax, legal, financial, investment, or accounting advice. Unless otherwise specified in these Terms of Use, the Platform and Services are Member Services provided by Crowd Street Inc.

You acknowledge that the Platform is “self-directed.”

You are responsible for all purchase decisions, as well as decisions to pursue an investment strategy, hold or redeem an investment, participate in a capital call, vote your securities, place instructions on your Member Account, and other actions related to your Member Account or investments.

Brokerage Services. Crowd Street Capital offers Brokerage Services in connection with the initial placement of specified securities. Crowd Street Capital is a registered broker-dealer and member of FINRA and SIPC. Members may receive Brokerage Services only after signing an Account Agreement and approval by Crowd Street Capital. All investments are self-directed and unsolicited.

Advisory Services. Investment advisory services are provided by Crowd Street Advisors, a registered investment adviser with the SEC. Crowd Street Advisors provides investment advisory services exclusively to private funds managed by Crowd Street Advisors, and does not provide investment advisory services to Users or Members.

2. Important Notices

By your acceptance of these Terms of Use, you acknowledge receipt of these notices and disclosures:

Risks of Investing. Please carefully review our Investment Risks Disclosure for an overview of important risks you should consider. You acknowledge and agree that your access to and use of the Platform and Services is subject to risks, including but not limited to the risks described in the risk disclosure and elsewhere on the Platform and documents related to specific investments. The occurrence of any of these or other risks could result in losses and damages to you.

Privacy Policy. Crowd Street respects your privacy and is committed to protecting it. Please review our Privacy Policy. Notwithstanding and in addition to the foregoing, if you are a vendor to us, are a Sponsor or Issuer, (as defined below), or provide services, products, or goods to Crowd Street, you acknowledge and agree that we may use and provide your business identifiable information and other nonpublic, confidential information to third parties as part of our vendor onboarding to validate payment instructions and perform due diligence on you as required by law and as otherwise required by us in our reasonable discretion (including but not limited to Know Your Business, credit checks, and background checks).

E-Sign and Electronic Delivery Consent. Crowd Street provides most of its Services electronically. You consent to the use of electronic signatures and delivery of records in electronic format during our relationship with you as set forth in our E-Sign and Electronic Delivery Consent.

Regulatory Disclosures. In accordance with applicable regulations, Crowd Street provides certain public Regulatory Disclosures for your information.

3. Accounts

Registration. To access certain features of the Platform and certain Services, you will be required to create a login and complete a Member Profile by providing information about yourself and your entity (if applicable). To complete an investment on the Platform, you will be required to create a Member Account for yourself and/or each investing entity (e.g. trust and retirement account) for which you will be investing. You represent and agree that the information you provide to us is accurate and that you will notify us of any changes. You acknowledge that Crowd Street relies on the information you have provided to us.

Member Account Eligibility. To establish a Member Account, you must:

Be an Accredited Investor,
Be at least 18 years old,
Be a U.S. citizen or resident alien, or invest through an eligible U.S.-based entity,
Not have been suspended or removed from the Platform,
Verify your identity and pass certain anti-money laundering checks and other due diligence requirements, and
Sign an Account Agreement.

Users who completed all investments via the Platform prior to September 2023 established a Member Account and completed investment subscriptions in connection with investments for which Brokerage Services were not provided, and no Account Agreement was required. Those Users may continue to use the Platform via their Member Account to service their portfolio, and these Terms of Use govern their continued use of the Platform. Users who wish to engage in new investment activities, and thereby receive Brokerage Services, may do so only after completing all required steps and entering into an Account Agreement.

Safeguarding Your Account. When you register, you will be asked to establish a login and password that will be used to access your Member Profile or Account. We require multi-factor authentication and other security features to access your Member Profile, or Account. You are solely responsible for maintaining the confidentiality of your login and password, and you accept responsibility for all activities that occur under your login. You are responsible for maintaining security and control of your login information, passwords, e-mails, devices you use to access the Platform or the Services or to send any instruction to us, and bank accounts you have associated with your Member Profile or Account. You must keep your email account associated with your login secure against any attacks and authorized access. If you believe that your login information or associated email account is no longer secure, then you must immediately notify us at compliance@crowdstreet.com. You acknowledge that the banking instructions you provide to us via the Platform will be shared with third parties who rely on those instructions to process payments directly to you in connection with investments placed via the Platform. Crowd Street does not handle cash transactions on behalf of Members or Sponsors and is not responsible for errors or fraud related to such banking instructions or payment processing.

Account Usage. You must ensure that the login, Member Profile, and Account you register will not be used by any other person unless they have been registered and completed any required identity verification described in these Terms of Use. Crowd Street reserves the right to terminate, suspend or restrict your access to the Platform, Services, or your login, Member Profile or Account or refuse to complete a transaction or instruction, in its sole discretion. Circumstances in which such adverse actions are more likely to arise include compliance with legal or regulatory requirements, suspected breach of these Terms of Use by you or your Account, suspected security breach, fraudulent activity, money laundering, or other crime, suspicious activity, circumvention of our policies, controls, or procedures, or other actions that we deem warrant adverse action. Any instruction or order given for your Member Profile or Account using your login credentials or those of any other person you have registered for your Member Profile or Account for will be treated as being from you and fully authorized by you, and Crowd Street will not be liable for relying on such instruction or order.

Authorization. Users who complete a Member Profile, open an Account, or engage in actions in a Member Profile or an Account on behalf of an entity or another individual must have full power, authority and capacity to consent to these Terms of Use and make decisions for such entity or individual.

Accredited Investor Verification. To complete your Member Account opening, and before you can invest in any securities, you must submit verification that you are an Accredited Investor. This verification is required for securities issuers to comply with Rule 506(c) under the Securities Act.

Identity Verification and Anti-Money Laundering Inquiries. You agree to provide us with the information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime and permit us to keep a record of such information. You will need to complete certain verification procedures before you are permitted to use certain Services or complete an Account opening or an investment. The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, email address, date of birth, taxpayer identification number, government identification number and scans of government-issued identity documents. In addition to providing this information, to facilitate compliance with regulatory requirements for data retention, you agree to permit us to keep a record of such information for the lifetime of your Account plus 6 years beyond the termination of your Account. You agree to keep us updated if any of the information you provide changes.

You authorize us to make inquiries, whether directly or through third parties, that we consider necessary to satisfy regulatory obligations, verify your identity or protect you and/or us against fraud, money laundering, terrorist financing or other financial crime, and to take any action we deem necessary based on the results of such inquiries. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed in full to vendors or agencies and that we may receive information about you from vendors or agencies.

If we determine that any information provided by you may be or is wrong, untruthful, outdated or incomplete, we may send you a notice to request corrections, remove relevant information directly and, as the case may be, terminate all or part of the Services provided to you.

4. Communications

Calls and Texts. If you provide us with phone number(s), you: (a) represent and warrant that the numbers you provide are your phone numbers, and you will promptly notify us if that changes, (b) consent to receive calls and texts made to that phone number concerning your Member Profile, Account, transactions, and other operational matters, including calls that may be prerecorded or completed with an automatic telephone dialing system (automated calls) for such operational purposes (including security alerts), or investigating or preventing fraud, and (c) consent to receive calls and texts made to that phone number for promotional purposes. You may opt out at any time from receiving these types of texts or calls by opting-out on your Account profile, advising the caller orally, by replying “STOP” to a text, or by e-mail to help@crowdstreet.com. Opting out of receiving operational phone calls and texts may impact the functionality that the Platform and Services provide to you. Please note, even if you opt out, we may still make other calls as permitted by law. You may continue to receive calls or text messages for a short period while Crowd Street processes your request, and you may also receive text messages confirming the receipt of your opt-out request. From time to time, you also may have the opportunity to “opt in” to receive additional types of promotional calls and texts, and your selection to receive such communications shall be your consent, which may be revoked at any time by changing your selection in your Member Profile, advising the caller orally, by replying “STOP” to a text, or by e-mail to help@crowdstreet.com.

You agree that Crowd Street may record and monitor phone calls and other electronic communications with you for customer service and/or regulatory compliance purposes. Crowd Street does not guarantee that any particular communication will be recorded and/or retained. We may share your number with third parties that provide services to us in connection with any of the foregoing purposes, including but not limited to debt collectors and as otherwise described in our Privacy Policy. You understand that message, telephone minute and data rates may apply for calls and texts made to a mobile phone number.

Emails. Crowd Street may send you emails concerning your Member Profile, Account, transactions, and other operational matters. Crowd Street also may send you promotional emails regarding our products and services, as well as those of third parties. You may opt out of promotional emails by following the unsubscribe instructions in the promotional email itself.

5. Dispute Resolution

Most concerns regarding the Platform or Services can be addressed effectively through open communication, and we encourage you to reach out to us at ir@crowdstreet.com so we can support you and work toward resolution.

Crowd Street does not make investment recommendations or decisions for Members, cannot control or impact the performance of an investment, cannot enforce reporting or other compliance obligations of third parties, and does not take custody of Members’ funds or securities. Crowd Street does not receive investors’ funds and cannot refund an investment completed by a Member. Crowd Street seeks to facilitate effective communication and issue resolution with third parties. You acknowledge, however, that legal disputes about an investment are between the User and the investment Issuer or Sponsor, and they must be resolved pursuant to the terms of the subscription agreement for the investment and/or the Issuer’s governing documents.

Dispute Notice. In the event of any claim, controversy, or dispute (each a “Dispute”) between a User and Crowd Street, each party will notify the other party in writing at least thirty (30) days prior to commencing formal legal action, so that the parties can attempt in good faith to resolve the dispute informally. Notice to Crowd Street of any Dispute shall be sent by email to legal@crowdstreet.com. Notice to the User shall be sent by email to the then-current email address associated with the User’s account and/or Member Account. Notice to Crowd Street must include (i) your name, postal address, email address, and telephone number, (ii) a description in reasonable detail of the nature or basis of the Dispute, including whether you believe that the Dispute is a Brokerage Dispute, and (iii) the specific relief that you are seeking. If, within thirty (30) days after the date notice is received by the applicable party, (a) we cannot agree how to resolve the Dispute, then either party may commence a legal proceeding, or (b) we cannot agree whether the Dispute is a Brokerage Dispute, then either party may commence a legal proceeding and the court shall decide whether a Dispute qualifies as a Brokerage Dispute.

Dispute Resolution. These Terms are governed by the laws of the State of New York without regard to conflict of law principles. Any Dispute, other than a Brokerage Dispute, must be brought exclusively in the federal or state courts located in the Borough of Manhattan, New York, New York, including the United States District Court for the Southern District of New York, and you submit to this exclusive jurisdiction and waive, to the fullest extent permitted by applicable laws, any objection to the laying of venue in such courts and any claim that any such action has been brought in an inconvenient forum.

You waive the right to a trial by jury. You waive the right to bring a class action, collective action or multi-party proceeding.

You and Crowd Street waive their respective rights to (i) a jury trial; (ii) a class arbitration, class action, joint, or multi-party proceeding; or (iii) private attorney general or action or other representative proceeding. Each party shall bear its own costs, fees and expenses in connection with any action brought pursuant to this Dispute Resolution provision, whether or not it is a Brokerage Dispute. Notwithstanding the provisions of this section Crowd Street may seek injunctive relief in any court having jurisdiction to protect its intellectual property rights.

Brokerage Disputes may be resolved in the federal or state courts located in the Borough of Manhattan, New York, New York, including the United States District Court for the Southern District of New York or, at the Member’s request, pursuant to FINRA Arbitration. Brokerage Disputes may be brought in FINRA Arbitration only with respect to Brokerage Services as expressly defined in Section 21 and as provided for in the FINRA Arbitration Code.

6. Modifications of the Platform and Services

Crowd Street reserves the right to modify or discontinue the Platform, Services, and/or certain features at any time, temporarily or permanently, without notice to you. Crowd Street will have no liability for any change to the Platform or Services or any suspension or termination of your access to or use of the Platform or Services. Crowd Street modifies the content on the Platform from time to time, but makes no representation that the content is always complete or up to date. We are under no obligation to update such material or provide user support.

7. Securities Products

Securities offered on the Platform are only suitable for investors who are familiar with and willing to accept the high risks associated with alternative investments and private placements, including the risk of complete loss of your investment. Securities offered on the Platform generally are not publicly traded and, therefore, generally are illiquid. Additionally, the Securities may be subject to restrictions on resale or transfer including holding period requirements. Investing in alternative investments and private placements requires high risk tolerance, low liquidity need, and long-term commitments. You must be able to afford to lose your entire investment. Investment products are not FDIC insured, may lose value, and there is no bank guarantee.

Unless otherwise provided in the governing documents of each offering, Securities offered on the Platform have not been registered under the Securities Act, in reliance, among other exemptions, on the exemptive provisions of Regulation D under the Securities Act. No governmental agency has reviewed the Securities and no state or federal agency has passed upon either the adequacy of the disclosures or the fairness of the terms of any offering.

Content provided on the Platform has been prepared without reference to any particular investment requirements or the financial situation of any person or entity. Featuring or posting on the Platform or via the Services of any opportunity or Security does not constitute a recommendation by Crowd Street that you invest in that Security or a representation of the quality of any potential investment. Crowd Street does not recommend or endorse any particular issuer, sponsor of an investment opportunity, or an investment in any particular investment.

You are responsible for seeking the advice of a qualified third-party investment, tax, or legal professional if you believe you need assistance making decisions regarding your investment activities.

The Issuer of an investment opportunity, and not Crowd Street, is responsible for compliance with exemptions from registration under applicable law.

These risks are non-exhaustive and are intended to highlight certain risks associated with investing in securities that are not registered with the SEC. In addition to reviewing Investment Risk Disclosures, we strongly advise you to consult a legal, tax and financial professional before investing, and carefully review all the specific risk disclosures provided as part of any offering materials and ask the issuer any questions you may have or request additional information.

8. Third-Party Information

The Platform contents include information provided by third parties. Most of the information on the Securities is provided by Sponsors or Issuers. While Crowd Street continually endeavors to provide reasonably and materially correct information, Crowd Street cannot verify or guarantee the accuracy or completeness of all information provided by third parties. Crowd Street makes no representation, warranty, or assurance that any information posted on the Platform or through the Services concerning or by third parties is accurate or complete and has no responsibility or liability for that information. Crowd Street disclaims all liability and responsibility arising from any reliance placed on such materials by any User or anyone who may be informed of the content. All statements and/or opinions expressed in third party content are solely the opinions and the responsibility of the person or entity providing the third party content.

9. User Interactions

The Platform facilitates communication between Users, including but not limited to Issuers posting updates and reports for Members. Crowd Street reserves the right to restrict access or remove content, but Crowd Street cannot monitor all communications and content shared by Users, review or audit all Issuer communications, or prevent inappropriate or inaccurate communications. You acknowledge that Crowd Street is not responsible for any loss or damage of any sort related to communications from other Users via the Platform or Services.

10. Indemnification

To the fullest extent permitted by law, you are responsible for your use of the Platform and the Services, and you agree to defend and indemnify Crowd Street and its officers, directors, employees, consultants, affiliates, subsidiaries and agents (together, the “Crowd Street Entities”) from and against every claim, and any related liability, damage, loss, and expense, including reasonable attorneys’ fees and costs, arising out of or connected with: (a) your use of, or misuse of, the Platform and Services; (b) information provided or representation made by you to Crowd Street or to any third party via the Platform; (c) your violation of any portion of these Terms of Use, any representation, warranty, or agreement referenced in these Terms of Use, any agreement you enter into with respect to an Investment on the Platform, or any applicable law or regulation; (d) your violation of any third party right, including any intellectual property right or publicity, confidentiality, other property, or privacy right; (e) any dispute, issue, or agreement between you and any third party, or (f) any interactions between or agreements between you and another User or any third party. We reserve the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you (without limiting your indemnification obligations with respect to that matter), and in that case, you agree to cooperate with our defense of those claims.

11. Disclaimers; No Warranties

THE PLATFORM, SERVICES AND ALL MATERIALS, INFORMATION, AND CONTENT AVAILABLE THROUGH THE SERVICE ARE PROVIDED “AS IS” AND ON AN “AS AVAILABLE” BASIS. CROWD STREET DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, RELATING TO THE PLATFORM OR SERVICES AND ALL MATERIALS, INFORMATION, AND CONTENT AVAILABLE THROUGH THEM, INCLUDING: (A) ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE, QUIET ENJOYMENT, OR NON-INFRINGEMENT; AND (B) ANY WARRANTY ARISING OUT OF COURSE OF DEALING, USAGE, OR TRADE. CROWD STREET DOES NOT WARRANT THAT THE SERVICE OR ANY PORTION OF THE PLATFORM, SERVICES, OR ANY MATERIALS OR CONTENT OFFERED THROUGH THEM, WILL BE UNINTERRUPTED, SECURE, OR FREE OF ERRORS, VIRUSES, OR OTHER HARMFUL COMPONENTS, AND CROWD STREET DOES NOT WARRANT THAT ANY OF THOSE ISSUES WILL BE CORRECTED.

NO ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM THE PLATFORM, SERVICES OR CROWD STREET ENTITIES OR ANY MATERIALS, OR CONTENT AVAILABLE THROUGH THEM WILL CREATE ANY WARRANTY REGARDING ANY OF THE CROWD STREET ENTITIES OR THE SERVICE THAT IS NOT EXPRESSLY STATED IN THESE TERMS. WE ARE NOT RESPONSIBLE FOR ANY DAMAGE THAT MAY RESULT FROM THE PLATFORM OR SERVICES AND YOUR DEALING WITH ANY OTHER SERVICE USER. YOU UNDERSTAND AND AGREE THAT YOU USE ANY PORTION OF THE PLATFORM AND SERVICES AT YOUR OWN DISCRETION AND RISK, AND THAT WE ARE NOT RESPONSIBLE FOR ANY DAMAGE TO YOUR PROPERTY (INCLUDING YOUR COMPUTER SYSTEM OR DEVICE USED IN CONNECTION WITH THE PLATFORM OR SERVICES) OR ANY LOSS OF DATA, INCLUDING USER CONTENT.

CROWD STREET MAKES NO WARRANTY OR REPRESENTATION AS TO ANY SPONSOR’S OR ISSUER’S COMPLIANCE WITH THE INVESTMENT COMPANY ACT, THE INVESTMENT ADVISERS ACT, OR THE SECURITIES ACT, OR ANY OTHER LAW, RULE, OR REGULATION. YOU UNDERSTAND AND AGREE THAT YOU, AND NOT CROWD STREET, BEAR THE RISK FOR ANY LOSSES THAT DERIVE FROM THE ILLEGALITY OR NONCOMPLIANCE OF AN ISSUER’S INVESTMENT OPPORTUNITIES.

YOU ARE SOLELY RESPONSIBLE FOR ANY INVESTMENT DECISIONS YOU MAKE BASED ON THE SERVICE. CROWD STREET SHALL NOT BE LIABLE FOR ANY INVESTMENT DECISIONS MADE BY YOU OR FOR ANY LOSS BASED ON THOSE DECISIONS.

THE LIMITATIONS, EXCLUSIONS AND DISCLAIMERS IN THIS SECTION APPLY TO THE FULLEST EXTENT PERMITTED BY LAW.

Crowd Street does not disclaim any warranty or other right that Crowd Street is prohibited from disclaiming under applicable law.

12. Limitation of Liability

TO THE FULLEST EXTENT PERMITTED BY LAW, IN NO EVENT WILL ANY CROWD STREET ENTITY BE LIABLE TO YOU FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES (INCLUDING DAMAGES FOR LOSS OF PROFITS, GOODWILL, OR ANY OTHER INTANGIBLE LOSS) ARISING OUT OF OR RELATING TO YOUR ACCESS TO OR USE OF, OR YOUR INABILITY TO ACCESS OR USE, THE PLATFORM OR SERVICE OR ANY MATERIALS OR CONTENT ON THE SERVICE, WHETHER BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), STATUTE, OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT ANY CROWD STREET ENTITY HAS BEEN INFORMED OF THE POSSIBILITY OF DAMAGE.

TO THE FULLEST EXTENT PERMITTED BY LAW, THE AGGREGATE LIABILITY OF ALL CROWD STREET ENTITIES TO YOU FOR ALL CLAIMS ARISING OUT OF OR RELATING TO THE USE OF OR ANY INABILITY TO USE ANY PORTION OF THE PLATFORM OR SERVICES OR OTHERWISE UNDER THESE TERMS, WHETHER IN CONTRACT, TORT, OR OTHERWISE, IS LIMITED TO $1,000. NOTWITHSTANDING THE FOREGOING, CROWD STREET WILL IN NO EVENT BE LIABLE FOR ANY CLAIMS OR DAMAGES ARISING OUT OF OR RELATED TO ANY USER’S INVESTMENT OR POTENTIAL INVESTMENT, OR ANY CONDUCT, MISCONDUCT, OR OMISSION OF ANY ISSUER, SPONSOR OR OTHER USER. YOUR USE OF THE PLATFORM AND SERVICES, AND ANY FINANCIAL DECISIONS YOU MAKE, ARE AT YOUR SOLE RISK.

EACH PROVISION OF THESE TERMS THAT PROVIDES FOR A LIMITATION OF LIABILITY, DISCLAIMER OF WARRANTIES, OR EXCLUSION OF DAMAGES IS INTENDED TO AND DOES ALLOCATE THE RISKS BETWEEN THE PARTIES UNDER THESE TERMS. THIS ALLOCATION IS AN ESSENTIAL ELEMENT OF THE BASIS OF THE BARGAIN BETWEEN THE PARTIES. EACH OF THESE PROVISIONS IS SEVERABLE AND INDEPENDENT OF ALL OTHER PROVISIONS OF THESE TERMS. THE LIMITATIONS IN THIS SECTION WILL APPLY EVEN IF ANY LIMITED REMEDY FAILS OF ITS ESSENTIAL PURPOSE.

13. Event of Death

In the event of your death, the representative of your estate or the survivor or survivors shall notify Crowd Street, and Crowd Street may, before or after receiving notice, take proceedings, require papers and inheritance or estate tax waivers, or restrict transactions in the Member Account. In the event of your death, Crowd Street may cancel all open offers, but Crowd Street shall not be responsible for any action taken on such offers prior to the actual receipt of notice of death. Further, Crowd Street may in its discretion close the Member Account without awaiting the appointment of a personal representative for your estate and without demand upon or notice to any personal representative.

14. Tax; Tax Reporting

You acknowledge that it is your responsibility to declare and pay any applicable income, gains, or similar taxes to all applicable tax authorities, make any tax filings, and to pay any and all taxes when due in all applicable jurisdictions. Crowd Street enables Sponsors and Issuers to provide certain tax forms such as Form K-1s to Users via the Platform. However, Crowd Street cannot verify the accuracy of such information or take responsibility for ensuring that Sponsors or Issuers timely or accurately deliver tax forms to Users.

15. Fees and Charges

Crowd Street does not charge commissions to Users for their participation in an offering nor does it charge investors any fees for accessing or creating an account on the Platform. However, you acknowledge that other fees may apply and that Crowd Street receives fees and/or commissions from Sponsors and/or Issuers in connection with User transactions, the Services, and other services provided to Sponsors, Issuers, and Users. Fees and/or commissions charged by Crowd Street Capital for brokerage services are described in the offering material for a particular transaction, where applicable. Crowd Street Advisors Fund fees will be paid in accordance with the applicable offering documents.

16. Confidentiality

You acknowledge that you may have access to certain confidential and proprietary information of Crowd Street, Issuers, Sponsors, other Users, and others through the Platform and the Services. This confidential information includes, but is not limited to, private placement memoranda, business plans, financial projections, financial results, investment agreements, transactions, addresses, phone numbers, tax id numbers, investment information, and banking information. You agree to treat such information as confidential, not use it for any purpose other than the investment purposes for which the information was provided to you, and not to disclose it to any third party, except (i) as necessary to permit your accountant, lawyer, or investment advisor to provide services other than affecting like transactions; (ii) in connection with an audit or regulatory examination by federal or state regulators; or (iii) as may otherwise be legally required or authorized.

17. Intellectual Property

Platform Content. Crowd Street grants you a limited right to use the Platform, Services, and content provided through them (“Content”), including Third Party Content described below, solely for the purpose of investment-related activity through the Platform and Services. You may view, download, and print the Content solely for personal non-commercial use. No license or other right, title or interest in any Content is intended or granted. You may not reproduce, publish, distribute, display, modify, create derivative works from, sell, license, or exploit in any way, in whole or in part, any of the Content or the Platform. Crowd Street reserves all rights with respect to copyright and trademark ownership of all Content.

Feedback. If you choose to provide input, suggestions, or questions via the Platform (collectively, “Feedback”), then you grant Crowd Street an unrestricted, perpetual, irrevocable, non-exclusive, fully-paid, royalty-free right to exploit the Feedback in any manner and for any purpose, including to improve the Platform or Services and create other products and services. Crowd Street has no obligation to use or exploit the Feedback in any manner.

Ownership; Proprietary Rights. The Platform and Services are owned and operated by Crowd Street. The Content, logos, visual interfaces, graphics, design, compilation, information, data, computer code (including source code or object code), products, software, services, and all other elements of the Services (“Materials”) provided by Crowd Street are protected by intellectual property and other laws. All Materials included in the Platform and Services are the property of Crowd Street or its third party licensors. Except as expressly authorized by Crowd Street, you may not make use of the Materials. Crowd Street reserves all rights to the Materials not granted expressly in these Terms of Use.

Third Party Content, Services and Linked Platforms. Third parties provide content, tools, reports, services, connectivity, and other material (collectively, “Third Party Content”) on the Platform and/or through the Services. Crowd Street does not prepare or endorse Third Party Content, does not guarantee the accuracy, timeliness, completeness or usefulness of Third Party Content, and is not responsible or liable for any content, advertising, products, or other materials on or available from third party sites.

18. DMCA Notification

We comply with the provisions of the Digital Millennium Copyright Act applicable to Internet service providers (17 U.S.C. § 512, as amended). If you have an intellectual property rights-related complaint about material posted on the Platform, you may contact our Designated Agent at the following address:

Crowd Street, Inc.
ATTN: Legal Department (Copyright Notification)
10 East 40th, Suite 1020
New York, NY 10016
Email: legal@crowdstreet.com

Any notice alleging that materials hosted by or distributed through the Platform infringe intellectual property rights must include the following information:

an electronic or physical signature of the person authorized to act on behalf of the owner of the copyright or other right being infringed;
a description of the copyrighted work or other intellectual property that you claim has been infringed;
a description of the material that you claim is infringing and where it is located on the Service;
your address, telephone number, and email address;
a statement by you that you have a good faith belief that the use of the materials on the Service of which you are complaining is not authorized by the copyright owner, its agent, or the law; and
a statement by you that the above information in your notice is accurate and that, under penalty of perjury, you are the copyright or intellectual property owner or authorized to act on the copyright or intellectual property owner’s behalf.

19. Prohibited Conduct

You agree that you will not:

Use the Platform, Services, Content, or Materials to identify potential investment opportunities from third party Sponsors or Issuers and attempt to circumvent Crowd Street and invest directly with such third party Sponsors or Issuers on your behalf or on behalf of anyone else;
Use the Platform Services, Content, or Materials to advertise or solicit other Users for any purpose, commercial or otherwise;
Use the Platform or Services for any illegal purpose or in violation of any local, state, national, or international law;
Harass, threaten, demean, embarrass, or otherwise harm any other User, Crowd Street employee, Sponsor, Issuer, or other person, as determined by Crowd Street in its sole and absolute discretion;
Violate, or encourage others to violate, any right of Crowd Street or a third party, including by infringing or misappropriating any Crowd Street or third party intellectual property right;
Interfere with security-related features of the Platform or Services, including by: (i) disabling or circumventing features that prevent or limit use or copying of any content; or (ii) reverse engineering or otherwise attempting to discover the source code of any portion of the Service except to the extent that the activity is expressly permitted by applicable law;
Interfere with the operation of the Platform or Services or any User’s enjoyment of the Platform or Services, including by: (i) uploading or otherwise disseminating any virus, adware, spyware, worm, or other malicious code; (ii) making any offer or advertisement to another User; (iii) collecting personal information about another User or third party without consent; or (iv) interfering with or disrupting any network, equipment, or server connected to or used to provide the Platform or the Services;
Perform any fraudulent activity including impersonating any person or entity, claiming a false affiliation, accessing any other account without permission, or falsifying your age or date of birth;
Sell or otherwise transfer the access granted under these Terms of Use or any right or ability to view, access, or use any Content or Materials; or
Attempt to do any of the acts described in this section or assist or permit any person in engaging in any of these acts.

20. General Terms and Conditions

Suspension; Termination. Crowd Street may at any time, in its sole discretion and without prior notice to you: (i) prohibit or restrict your access to the use of the Platform or Services; (ii) restrict your ability to engage in one or more investment transactions; and/or (iii) terminate your Account.

Other Agreements. Investments involve the execution of numerous agreements with third parties in addition to agreements you may enter into with Crowd Street and its affiliates. When you invest in a transaction, you will enter into one or more agreements with the Issuer and/or Sponsor, such as a subscription agreement, limited liability company operating agreement, and/or shareholder agreement. These investment agreements govern the terms of your investment. Crowd Street generally is not a party to your investment agreements. These Terms of Use do not affect your investment agreements. These Terms of Use apply to the Services provided by Crowd Street to support and facilitate your investment activities.

Additional Terms. Your use of the Platform and Services are subject to all additional terms, policies, rules, or guidelines that we may post on or link to from the Platform (the “Additional Terms”). All Additional Terms are incorporated by this reference into, and made a part of, these Terms.

Contact Information. The Platform is offered by Crowd Street, located at 10 East 40th, Suite 1020, New York, NY 10016. You may contact us by emailing us at info@crowdstreet.com.

Notice to California Residents. If you are a California resident, under California Civil Code Section 1789.3, you may contact the Complaint Assistance Unit of the Division of Consumer Services of the California Department of Consumer Affairs in writing at 1625 N. Market Blvd., Suite S-202, Sacramento, California 95834, or by telephone at (800) 952-5210 in order to resolve a complaint regarding the Service or to receive further information regarding use of the Service.

International Use. The Platform and the Services are intended for United States residents. We make no representation that the Service is appropriate or available for use outside of the United States. Access to the Platform and Services from countries or territories or by individuals where such access is illegal is prohibited.

Binding Effect; Assignment. This Agreement shall bind your heirs, assigns, executors, successors, conservators and administrators. You may not assign this Agreement or any rights or obligations under this Agreement without first obtaining Crowd Street’s prior written consent. Crowd Street may assign, sell, or transfer your Member Account, the Platform, and/or the Services and its obligations under these Terms of Use, or any portion thereof, at any time, without your prior consent.

Severability. If any provisions or conditions of these Terms of Use are or become inconsistent with any present or future law, rule, or regulation of any applicable government, regulatory or self-regulatory agency or body, or are deemed invalid or unenforceable by any court of competent jurisdiction, such provisions shall be deemed rescinded or modified, to the extent permitted by applicable law, to make these Terms of Use in compliance with such law, rule or regulation, or to be valid and enforceable, but in all other respects, these Terms of Use shall continue in full force and effect.

Entirety of Agreement. These Terms of Use, and any attachments, disclosures, agreements and policies referred to in these Terms of Use contain the entire agreement between Crowd Street and you and supersede all prior or contemporaneous communications and proposals, whether electronic, oral, or written, between Crowd Street and you with respect to the Platform and the Services, provided, however, that any and all other agreements between Crowd Street and you, not inconsistent with these Terms of Use, will remain in full force and effect.

No Waiver; Cumulative Nature of Rights and Remedies. You understand that Crowd Street’s failure to insist at any time upon strict compliance with any term contained in these Terms of Use, or any delay or failure on Crowd Street’s part to exercise any power or right given to Crowd Street, or a continued course of such conduct on Crowd Street’s part, shall at no time operate as a waiver of such power or right, nor shall any single or partial exercise preclude any other further exercise. All rights and remedies given to Crowd Street in these Terms of Use are cumulative and not exclusive of any other rights or remedies to which Crowd Street is entitled.

Term of Agreement. Crowd Street may terminate the Platform, Services, an Account, and/or these Terms of Use at any time in its discretion, with or without notice to User. Upon the effective date of such termination, all rights granted to User will terminate, and User shall cease all access to and use of the Platform and Services. Crowd Street shall have no obligation to User to retain copies of any User data following the effective date of termination, or to deliver any User data to User. The rights and obligations of the parties set forth in these Terms of Use which by their terms survive such termination shall remain in full force and effective beyond the effective date of termination.

21. Definitions

As used throughout these Terms of Use, the following terms have the following meanings.

“Account” means Member Account or Sponsor Account.

“Accredited Investor” means an “accredited investor” as defined in Rule 501(a) of Regulation D. As of September 2025, this means:

A natural person who satisfies one of the following federal standards:
Income: Has earned income that exceeded $200,000 (or $300,000 together with a spouse or spousal equivalent) in each of the prior two years, and reasonably expects the same for the current year;
Net Worth: has a net worth over $1 million either alone or together with a spouse or spousal equivalent (excluding the value of their primary residence); OR
Professional License: holds in good standing a Series 7, 65, or 82 license.

An entity can satisfy the federal standards in several ways, including but not limited to:

Revocable Trust: a revocable trust for which the grantor is an Accredited Investor;
Accredited Owners: an LLC, corporation, or other entity in which all of the equity owners (shareholders or LLC members) are Accredited Investors;
Trust Assets: a trust with assets of more than $5 million, not formed specifically to purchase the securities, whose purchase is directed by a sophisticated person; OR
Entity Investments: an LLC, corporation, or other entity with total investments of more than $5 million, not formed specifically to purchase the securities.

“Brokerage Dispute” means a dispute arising in connection with Brokerage Services.

“Brokerage Services” means Crowd Street Capital’s services as a limited broker, which are provided exclusively in connection with the initial placement of specified securities to accredited investors who have an approved Account Agreement. All Services provided other than the initial placement of securities by Crowd Street Capital, are Member Services provided by Crowd Street Inc. and are not Brokerage Services. Crowd Street Capital does not provide individual investment advice, recommend any particular investment strategy, security or transaction, take custody of securities you elect to purchase, handle your cash, evaluate the performance of a security after initial placement, or provide services related to capital calls, distribution elections, or proxy voting. Crowd Street Capital acts as an intermediary, or “agent”, and does not take ownership of securities offered on the Platform or otherwise engage in principal trades.

“Crowd Street” means CrowdStreet, Inc. (“Crowd Street Inc.”) and its wholly-owned subsidiaries including but not limited to Crowd StreetCapital, LLC (“Crowd Street Capital”) and CrowdStreet Advisors, LLC (“Crowd Street Advisors”).

“FINRA Arbitration” means arbitration before FINRA Dispute Resolution, Inc. in accordance with FINRA’s Code of Arbitration Procedure for Customer Disputes (“FINRA Arbitration Code”). Any provisions of the Terms, including but not limited to Sections 5, 11 and 12, that are inconsistent with the FINRA Arbitration Code shall not apply to Brokerage Disputes governed by FINRA.

“Member” means any person or entity who has established a login on our Platform, regardless of whether they have provided information to complete a profile with their identification, contact, investment interests and other information (“Member Profile”).

“Member Account” means the non-custodial account established for a person or entity to complete investments on the Platform.

“Member Services” means all services other than Brokerage Services and includes, but is not limited to, member support, technology, educational material, resources, facilitation of sponsor reporting and communications, and all other tools and services.

“Platform” means Crowd Street’s websites, technology, including but not limited to crowdstreet.com and the Services.

“Securities” refers to the interests purchased by Members in investment opportunities via the Platform. The Securities are offered by the entity that is issuing the Securities (the “Issuer”) or their affiliated manager (the “Sponsor”).

“Services” means Member Services and Brokerage Services.

“Sponsor Account” means the administrative account established for an Issuer and/or Sponsor to offer investment opportunities, publish investment updates and reports, distribute tax information, and communicate with Members.

“User” means each person and/or entity that accesses or uses the Platform in any capacity, whether or not such person or entity creates a log in, Member Profile, Member Account or Sponsor Account.