Krause House

Recipient: Lewwwk#4227

Wallet: 0xAEa967842976600f1a9256DcA207E4435A6f0112

Request

7,500 $KRAUSE / month

7,500 $USDC / month

Paid monthly, at the end of each month, for August, September, October, November 2023.

Protections

Stewardship team may cancel this agreement at any point.

Community may submit a proposal to cancel this agreement at any point.

Scope of Work

This proposal is a continuation of a previous stream that concluded July 31st, 2023.

The scope of work for this includes up to 3 days per week, or 12 days per month by Lewwwk#4227 focused on:

• Fund structuring and formation
• Transaction negotiation and closing
• Capital infrastructure development, including entities and protocols
• Engaging and managing capital partners, investors, advisors, and contributors

Purpose of this Work

Krause House formed around an ambitious mission to buy an NBA team. The purpose of this stream is to help bring our mission home by securing the terms and capital for an evergreen investment fund, and our first elite-level transaction in the NBA or beyond.

Current Status

We are currently engaged in elite-level investment opportunities across 3 different sports as well as with prospective investors that have interest and capacity to invest in the fund and/or individual elite-level transactions.

Results from Previous Work

Lewwwk, in collaboration with Commodore, Flex, and advisors:

• Led SPV raise, generating over 2x investor interest
• Represented Krause House at key sport*crypto investor events in Los Angeles
• Engaged and built relationships with multiple large scale investors
• Handled ongoing Krause House Capital administration
• Developed deck and narrative for use in Treasury Diversification
• Met with team and league owners across sports, triaging investment opportunities
• Supported elite team ownership and league conversations

What Changed Over the Last Stream

Over the past stream we’ve been fortunate to engage on multiple elite team ownership opportunities. While elite-level transactions can be slow and unpredictable, it has also given us time to form and deepen relationships with some of our larger prospective investors. Through those conversations we have further refined and validated our strategy and structuring, and built trust and credibility with all parties.

While the capital climate continues to be severely constrained, we are now well positioned to move forward with multiple paths to securing our first transaction and establishing a fund that can help Krause House scale its mission across sports.

What Does Success Look Like

• Terms agreed for our first elite-team investment.
• First close on an evergreen investment fund.

Voting Options and Determination

1. Approve
2. Against
3. Abstain

Abstain votes are discarded. This proposal passes if option 1 (Approve) receives more votes that option 2 (Against).