Folla Capital, Wilmington, NC (2026)

09/16/2026

How many Reg CF issuers go on to raise venture capital?

The SEC's Division of Economic and Risk Analysis looked at every crowdfunding offering initiated between May 16, 2016 and December 31, 2024.

Of 3,253 Reg CF issuers with reported proceeds, 110 — 3.4% — went on to receive venture capital financing.

Across every crowdfunding offering initiated in that window, 10.5% involved an issuer that filed a Form D afterward. A Form D is not necessarily a priced round, so that figure is an upper bound. The two figures use different denominators: 3.4% is of issuers with reported proceeds; 10.5% is of offerings initiated.

These are market-wide figures. They say nothing about any single company, and nothing about why.

They are not a success rate. A later venture round is one possible next step after a crowdfunding raise, not the measure of it.

What they are is a base rate. If a funding plan counts on a venture round at step three, the base rate belongs in the conversation at step one — before the earlier choices are made.

This post is not a recommendation as to any security, structure, or exemption for any particular company.

White paper: Sequenced Capital: Why the First Check You Take Decides the Last One.

follacapital.com/sequenced-capital

Securities offered through Folla Capital, LLC, member FINRA/SIPC.
Image: AI-generated

08/10/2026

Most raises fail before they launch. The reasons are boring, and that's the point.

When CB Insights analyzed 111 startup failure post-mortems in 2021, the single most-cited reason was running out of cash and failing to raise the next round. Second, in about 35% of cases, it was building something with no real market need.

Neither of those is a fundraising problem you fix with a better deck. They're readiness problems. A raise doesn't create demand or extend runway — it exposes whether you had them.

Before you launch, the honest questions:

- Do your financials tell a story a stranger can follow and diligence?
- Is your cap table clean enough to survive a close read?
- Do your corporate documents actually exist and agree with each other?
- Is there a real market pulling, or are you hoping the raise proves there is?

A specialist broker-dealer runs those questions with you before the offering goes out — because the diligence a BD does isn't a hurdle at the end, it's what should have shaped the raise from the start.

The unglamorous work is the work.

Questions about getting raise-ready? follacapital.com

Securities offered through Folla Capital, LLC, member FINRA/SIPC.

08/02/2026

Which capital should you actually raise from? Start with who's already in your corner.

A quick way to think about it, as an issuer:

- 𝗜𝗳 𝘆𝗼𝘂𝗿 𝗰𝘂𝘀𝘁𝗼𝗺𝗲𝗿𝘀 𝗹𝗼𝘃𝗲 𝘆𝗼𝘂 𝗮𝗻𝗱 𝘄𝗮𝗻𝘁 𝗶𝗻 → that points toward Local / Tribal capital, and often toward Reg CF, which is open to non-accredited investors.

- 𝗜𝗳 𝘆𝗼𝘂𝗿 𝗯𝗮𝗰𝗸𝗲𝗿𝘀 𝗮𝗿𝗲 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗶𝗻𝘀𝗶𝗱𝗲𝗿𝘀 𝗮𝗻𝗱 𝗮𝗰𝗰𝗿𝗲𝗱𝗶𝘁𝗲𝗱 → that points toward Domain / Yield capital, and often toward 506(c), which is accredited-only and verified.

The mistake is running it backwards: picking the exemption you read about, then hunting for investors it fits. Your existing relationships already tell you which lane you're in. The exemption should follow the investors — not the other way round.

This is a founder/issuer-education point, not a recommendation to invest in anything. It's about how you plan a raise.

Which lane are your relationships pointing you toward?

Questions on fit? follacapital.com

Securities offered through Folla Capital, LLC, member FINRA/SIPC.

07/23/2026

What Regulation Crowdfunding actually looks like at scale — the data, not the hype.

The SEC's economic staff analyzed the market from its 2016 start through the end of 2024. A few numbers worth sitting with:

- An estimated 8,492 offerings from 7,134 issuers. - Issuers reported roughly $1.3 billion in proceeds across 3,869 offerings — and that's a lower-bound estimate. - 83 registered funding portals operating as of year-end 2024. - The median issuer had about $80,000 in total assets, around $10,000 in revenue, three employees, and only about one in seven had recorded a net profit.

𝗥𝗲𝗮𝗱 𝘁𝗵𝗮𝘁 𝗹𝗮𝘀𝘁 𝗽𝗼𝗶𝗻𝘁 𝗮𝗴𝗮𝗶𝗻. Reg CF is serving genuinely early-stage companies — small, often pre-profit, many raising outside institutional channels for the first time. That's the feature, not the bug: it's capital formation reaching businesses the traditional market skips.

It's also exactly why the disclosure and the diligence matter so much. Early-stage means real risk, and the framework exists so investors can see it clearly.

Investing in early-stage private companies is speculative and involves real risks, including illiquidity and the possibility of a total loss of the amount invested.

We work in this market every day. Questions about whether it fits your company? follacapital.com

Securities offered through Folla Capital, LLC, member FINRA/SIPC.

This image was produced by AI.

07/20/2026

Three ways to raise capital from the public. They are not interchangeable.

𝗥𝗲𝗴 𝗖𝗙 (𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻 𝗖𝗿𝗼𝘄𝗱𝗳𝘂𝗻𝗱𝗶𝗻𝗴). Up to $5M in a rolling 12-month period. Open to accredited and non-accredited investors, with per-investor limits. Must run through a registered broker-dealer or funding portal. Good fit when your investors are your customers and community.

𝗥𝘂𝗹𝗲 𝟱𝟬𝟲(𝗰) 𝗼𝗳 𝗥𝗲𝗴 𝗗. No dollar cap. General solicitation is allowed — you can market it publicly — but every purchaser must be a verified accredited investor. Good fit when you're raising from accredited investors and want to advertise the raise.

𝗥𝗲𝗴 𝗔 (𝗧𝗶𝗲𝗿 𝟮). Up to $75M in 12 months, open to non-accredited investors — but it requires audited financial statements and ongoing reporting. It's the most demanding of the three, and for later-stage companies, it can be worth it.

Notice what the choice actually turns on: who your investors are, how much you need, and what disclosure you can carry. Not which one sounds best.

Picking the wrong lane costs months. Picking it in the wrong order costs the raise.

Questions about which exemption fits your situation? Reach out — follacapital.com.

Securities offered through Folla Capital, LLC, member FINRA/SIPC.

This image was produced by AI.

04/10/2026

𝗨𝗻𝗽𝗼𝗽𝘂𝗹𝗮𝗿 𝗼𝗽𝗶𝗻𝗶𝗼𝗻: 𝗺𝗼𝘀𝘁 #𝗳𝗼𝘂𝗻𝗱𝗲𝗿𝘀 𝗮𝗿𝗲 𝗳𝘂𝗻𝗱𝗿𝗮𝗶𝘀𝗶𝗻𝗴 𝘄𝗿𝗼𝗻𝗴.

The entire is built around one investor type — 𝗬𝗶𝗲𝗹𝗱 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 investors. They care about IRR first. They care about your mission or community a distant second. Period. It doesn't make them bad people. It's just that 98% of startups and operating businesses don't fit the 10x in 5-7 year return model they're looking for.

Yet founders endure endless pitch-and-pray contests, collect 47 rejections, and drive home from them listening to "find your why" podcasts to feel better about it.

Because that's what the startup ecosystem tells them to do.

𝗛𝗲𝗿𝗲'𝘀 𝘁𝗵𝗲 𝗴𝗼𝗼𝗱 𝗻𝗲𝘄𝘀: more people are focusing on enhancements and innovations within SEC-exempt offering rules, combined with internet distribution, have quietly unlocked three other investor archetypes most founders are ignoring. We certainly are.

𝗧𝗿𝗶𝗯𝗮𝗹 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 — people who invest in YOU before the deal. Friends, family, customers, the buddies you served with. They don't need a track record. They already believe in you. You're halfway there.

𝗟𝗼𝗰𝗮𝗹 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 — investors who want their city to win — exist everywhere, waiting for a hear a great idea from a local founder focused on a local need. They just need to know about it and be able to participate legally as investors. Done.

𝗗𝗼𝗺𝗮𝗶𝗻 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 — retired operators and industry veterans who've lived the problem you're solving — will back you if they can find you. Make it easy to do so.

All three can be reached through a Reg CF or Reg A raise, or invited into a Reg D 506(b) where a pre-existing relationship exists.

When was the last time your local ecosystem schooled you on the various SEC exemptions and the variety of innovative security types you can offer? I thought so.

I call it 𝗘𝗮𝗿𝗻𝗶𝗻𝗴 𝗖𝗮𝗽𝗶𝘁𝗮𝗹. The tools are here. The rules allow it. The herd hasn't figured it out yet.

Which type of capital has been most overlooked in your raise? Drop it in the comments.

12/04/2025

🔥 𝗧𝗵𝗲 𝘀𝘁𝗮𝘁𝘂𝘀 𝗾𝘂𝗼 𝗶𝘀 𝗯𝗿𝗼𝗸𝗲𝗻. 𝗠𝗼𝘀𝘁 𝗳𝗼𝘂𝗻𝗱𝗲𝗿𝘀 𝗷𝘂𝘀𝘁 𝗱𝗼𝗻’𝘁 𝗸𝗻𝗼𝘄 𝗶𝘁.

Pitch culture is outdated, inefficient—and built for investors, not you.

There’s a better way: raise capital by 𝗲𝗮𝗿𝗻𝗶𝗻𝗴 𝗶𝘁.

💥 Why it works:

• Follow SEC rules—but use modern tech to scale
• Supporters invest when they believe in your mission
• You stay in control—with real reach, real results

🎥 See how to skip the pitch and flip the script.

07/30/2025

Are you a founder or small business owner and still raising capital like it's the '90s?
It’s time to evolve - not by bending the rules, but by working smarter within them.

Join us for a practical, no-nonsense webinar on how to earn investment in the digital age.

🗓️ Thursday, August 14
🕑 2:00–3:00 PM ET

What you'll learn:

✔️ The history of securities laws - know the rules before playing the game
✔️ What the different "exemptions" in the rules are and how they apply to you
✔️ How to earn investor trust (it’s not just your pitch deck)
✔️ Why your words matter more than you think
✔️ How modern tools are rewriting the playbook
✔️ How supporters and investors are different, and can be the same

Stop chasing capital. Start earning it.

Secure your spot: https://bit.ly/Earn-Capital

07/04/2025

🇺🇸 This Independence Day, we’re reminded that true freedom includes the chance to build - whether it’s a business, a community, or a more inclusive economy.

This country was founded on bold ideas. Let’s keep that spirit alive.

Happy Fourth from Folla Capital.

06/27/2025

𝗢𝗹𝗱 𝗚𝗹𝗼𝗿𝘆 𝗦𝘁𝘂𝗱𝗶𝗼𝘀 𝗶𝘀 𝗽𝗿𝗼𝘃𝗶𝗻𝗴 𝘁𝗵𝗮𝘁 𝗺𝗶𝗹𝗶𝘁𝗮𝗿𝘆 𝘀𝗲𝗿𝘃𝗶𝗰𝗲 𝗶𝗻𝘀𝘁𝗶𝗹𝗹𝘀 𝗺𝗼𝗿𝗲 𝘁𝗵𝗮𝗻 𝗱𝗶𝘀𝗰𝗶𝗽𝗹𝗶𝗻𝗲 - 𝗶𝘁 𝘀𝗵𝗮𝗿𝗽𝗲𝗻𝘀 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆, 𝗹𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽, 𝗮𝗻𝗱 𝗿𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲.

Co-founders Lewis Manolo and Matt Patak are channeling those strengths into something original: a veteran-led game studio building meaningful, high-quality experiences from the ground up.

Lewis Manolo: 𝘌𝘹𝘦𝘤𝘶𝘵𝘪𝘷𝘦 𝘗𝘳𝘰𝘥𝘶𝘤𝘦𝘳
A U.S. Army veteran of the 82nd Airborne, Lewis served in Afghanistan before launching a writing career that spans Tom Clancy’s Ghost Recon, Dying Light 2, Vampire: The Masquerade – Bloodhunt, Exoborne, and more.

Matt Patak: 𝘊𝘳𝘦𝘢𝘵𝘪𝘷𝘦 𝘋𝘪𝘳𝘦𝘤𝘵𝘰𝘳
An Iraq veteran with the 3rd Infantry Division, Matt transitioned from tactical operations to level design, contributing to Tom Clancy’s The Division 1 & 2, Ryse: Son of Rome, Exoborne, and others.

Together, Lewis and Matt are launching a mission-driven studio rooted in lived experience, creative excellence, and integrity.

With Folla Capital, they’ve opened a public investment opportunity, inviting you to champion not just the product, but the principles and people behind it.

Join Old Glory’s mission to bring realism to combat games and become a part of their journey today.

Invest in leadership & potential.
Explore the campaign: https://bit.ly/3SYyxzT

Folla Capital

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