Krause House

Lewwwk Contributor Funding Request

Author: Lewwwk#4227

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Recipient: Lewwwk#4227

Wallet: 0xAEa967842976600f1a9256DcA207E4435A6f0112

Request:

• 7,500 $KRAUSE / month
• 7,500 USDC / month

Paid monthly, at the end of each month, for September, October, and November 2022.

Protections:

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

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### Scope of Work

This proposal is a continuation of the work initiated under the previous Capital Coordination proposal that concluded August 31st, 2022. The scope of work for this includes up to 3 days per week, or 12 days per month by Lewwwk#4227 focused on:

• Raising Fund I including necessary structures, partnerships, agreements and proposals.
• Supporting team acquisitions including capital, strategy, and structuring.

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### Results from Previous Work

Through work completed under the previous proposal, Lewwwk, in collaboration with Commodore and Flex, successfully established the capacity for Krause House to secure the capital required to take a minority ownership position in an NBA team.

WAGBAT! → Loom Video on Fund I

In addition, a scalable, compliant capital structure and roadmap has been developed that will enable Krause House to make team acquisitions, advance fan ownership and participation, invest in sports innovation, and progressively decentralize ownership. The first component of that roadmap, a $100M acquisition and investment fund has been also be validated as an attractive and differentiated offering to capital allocators who invest in sports.

(To learn more, please reach out in #dio-chat)

Divergence from Previously Intended Outcomes

• Early on in the previous work, effort shifted from higher-volume outreach to collaborating with a few key individuals with deep experience in sports investment and transformation. As a result CRM and contact metrics were deprioritized.
• While we have not secured specific capital commitments, we can confirm meaningful interest in a Krause House treasury diversification round, the inclusion of the venture strategy in Fund I as described above, and the capacity to secure the capital required to take a minority ownership position in an NBA team.

### What Does Success Look Like

Outreach to LPs around Fund I is now in process and we stand ready to raise the capital necessary to complete an acquisition in an NBA team that comes available to us.

Success for this phase of Capital Coordination could look like:

• LOI and capital secured for a minority ownership position in an NBA team.
• First close on Fund I > $20mm
• First fees from Fund I land in Krause House Treasury by end of year.

Link to KH Governance update

https://github.com/Krause-House/org/commit/0920411ddab835a0da6ac3efa63912a1c39fdc58