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 Psychonauts 2  investment funds held up by SEC checks
Psychonauts 2 investment funds held up by SEC checks
February 1, 2016 | By Christian Nutt




Though Psychonauts 2's mixed crowdfunding campaign -- which allowed for both traditional "backer" crowdfunding and direct investment in the game, via the Fig crowdfunding platform -- ended successfully, that's not the end of the story for developer Double Fine Productions.

The Securities and Exchange Commission, whose new rules on equity crowdfunding paved the path toward the company being able to involve regular people in the investment side, requires stringent information collection before funds can be collected and released to the studio, Polygon reports.

Double Fine has already received its non-investment crowdfunding, which totaled $1,945,524. Investment, on the other hand, made up $1,874,500 of its ultimate $3.3 million haul. 

"The SEC filing must be qualified before we can collect the investment reservations placed by unaccredited investors," a Fig spokesperson told Polygon. Judging from the verbiage used by Fig, the checks seem part and parcel with allowing investment, and not indicative of any snags in the process. 

The changes which allowed unaccredited investors to join in funding projects like this one were approved last year; Psychonauts 2 was the first campaign the site ran which was able to take advantage of the new rules.



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