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Creating Risk Capital: A Royalty Fund Solution to the Ownership and Financing of Enterprise by Ian Whalley

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13. Creating a Royalty Fund

It is envisaged that royalty funds would be provided by a specialised intermediary organisation, termed a royalty funder, which could be set up by suitable investors in a number of conventional ways to build up and hold a portfolio of investments in royalty funds on their behalf.

The arrangements for a royalty fund would be embodied in an agreement between the user enterprise and the royalty funder, based on the building blocks already described. The agreement would enable the enterprise to identify the assets it needs, acquire them as appropriate on behalf of the fund, and use them for its business, without any borrowing or dilution of the existing ownership of the enterprise. The assets may also serve to generate ...

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