Ann: Launch of Bentham IMF US Investment Vehicle, page-14

You had me worried there as well, Denk!

That line about the "US opportunities" I just read as they MUST direct all potential US cases to the venture until they hit the initial $150M allocated capital amount. This is expected over 3 years. I'm not sure how many cases that would be equivalent to, but I assume its manageable without scraping the bottom of the bucket of potential cases.

I like the fact that they have finally matched up a good chunk of the USD expenses with their USD revenue. And have turned $50M into $200M in funding without share dilution/CR. I suspect if this model is successful, it will be scalable in the US and other jurisdictions.