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These are high-risk, illiquid investments, not savings products. You could lose all the money you invest, income can stop, and an exit may take years or never occur. Read the offering documents for the specific asset as well as this general disclosure.
Property values, company values and loan recoveries can fall. Costs, debt, tax, damage, disputes or a failed counterparty can leave little or nothing for investors after higher-ranking claims are paid.
A projected return, target yield or past result is not a promise. You may receive less than you invested or nothing at all, and no deposit-insurance or capital-protection promise applies unless the offering documents expressly say so.
There is currently no open secondary market or redemption facility. Unless an offering provides another route, assume your money remains committed until the underlying asset is sold, repaid or wound up.
A future secondary market is not guaranteed to launch. If it does, a sale still requires an eligible buyer and may occur below the displayed value or not at all. Shard is not required to buy your holding.
Do not invest money you may need for living costs, emergencies or a near-term goal.
Property and private-company interests do not have a continuously observable market price. A valuation depends on assumptions and may be stale, wrong or materially different from the price achieved in a forced or ordinary sale.
Your dashboard value is an estimate. You cannot assume that another investor or buyer will pay it.
Property distributions depend on cash actually collected. Vacancy, tenant default, repairs, insurance, management costs, taxes, reserves and other expenses may reduce or eliminate a payment.
A private-credit payment depends on the borrower paying. Default, restructuring, enforcement delay, weak security or insufficient recovery can reduce or eliminate interest and principal.
The timing stated for an asset is a schedule, not a guarantee. Payments may be delayed or nil.
Many assets, costs and cash flows are denominated in naira. If your home currency differs from an asset’s base currency, exchange-rate movements can outweigh a local-currency gain.
The conversion rate and any provider charge or disclosed margin shown at the time of conversion apply. A future conversion may occur at a less favourable rate.
Each holding may depend on one property, borrower, city, manager or legal structure. Fire, flood, title defects, default, a local downturn or a service-provider failure can affect it directly.
Owning several holdings can reduce asset-specific exposure but cannot remove common Nigerian economic, political, interest-rate, inflation or currency risk.
Your rights are defined by the offering and constitutional documents. If a nominee, trustee or custodian is used, that entity may hold legal title while you hold a beneficial entitlement recorded in a separate ledger. Errors, insolvency, disputes or replacement of an administrator can delay access and increase cost.
A special-purpose company can reduce commingling with Shard, but it does not make an asset bankruptcy-proof or liability-free. Its own creditors, taxes, contracts, security interests and legal claims may rank ahead of investors.
A fractional investor usually has limited control over management, financing, a sale or enforcement. Other securities may have superior voting, distribution or liquidation rights.
A later issue of shares or instruments may dilute your economic or voting interest where the governing documents permit it. Read the capital structure and reserved matters before investing.
Management, platform, payment, legal, custody, maintenance, sale and enforcement costs may be paid before investors. Taxes may apply to the asset, its company, distributions, gains or your personal position.
Inflation can reduce the real value of fixed or delayed payments. Headline returns may be shown before your own tax and currency costs.
Shard, an affiliate, sponsor, manager, nominee, arranger, lender or adviser may earn fees or have another interest in an offer or transaction. Its interests may not always align with yours.
Material known conflicts should be disclosed and managed, but a policy cannot eliminate every conflict or its consequences.
Shard is an early-stage business. It, a property company, nominee, administrator, bank, payment provider, identity provider or technology supplier may become insolvent, cease service or make an error.
A wind-down, record reconstruction or replacement of a service provider can take time, cost money and interrupt transactions or distributions. Structural separation can reduce some risks but does not guarantee an uninterrupted recovery.
Securities, crowdfunding, digital-asset, company, land, tenancy, tax and data-protection rules may change or be interpreted differently. A regulator may restrict an offer, investor category, transaction or feature.
Company registration or publication on this website is not SEC approval. Check the current regulatory status and the approvals or regulated parties identified in the offering documents before investing.
Land and security interests can be disputed despite diligence, and enforcement through registries or courts may take years.
Accounts, providers and systems can be attacked, compromised or unavailable. Fraud, impersonation, incorrect instructions or data loss can delay or cause loss even where controls exist.
A blockchain or smart-contract feature, if introduced, would add software, key-management, network and settlement risks. Do not assume a planned technology is operating unless the product expressly says it is live.